President Donald Trump has introduced a new immigration initiative known as the “Gold Card” visa program. This proposal will allow wealthy foreign nationals to live and work in the US and eventually offer a pathway to U.S. citizenship if they are willing to invest $5 million directly into the U.S. government. The administration aims to launch this program by the end of March 2025.
Key Features of the Gold Card Visa
- Investment Requirement: Applicants must contribute $5 million directly to the U.S. government.
- Taxation Details: Gold Card holders will be exempt from taxes on income generated outside the U.S. but will be fully taxed on domestic earnings.
- Program Replacement: This initiative is set to replace the existing EB-5 Immigrant Investor Program, which currently requires a lower investment and mandates job creation.
Commerce Secretary Howard Lutnick highlighted that the Gold Card aims to attract wealthy foreign nationals. According to him, this initiative is expected to boost economic growth and government revenue. He also noted that approximately 250,000 individuals are already expressing interest in this opportunity.
But not everyone agrees with this idea. Critics argue that ending the EB-5 program without approval from Congress might not be legal. Others have raised concerns that offering U.S. citizenship in exchange for money could be unfair and might give too much power to wealthy foreign investors.
As the government gets ready to introduce the Gold Card visa, more details about how to apply and who qualifies are expected. The program’s success will depend on how well it can boost the economy while also protecting national interests and security.
