President Donald Trump has announced a new immigration initiative aimed at affluent foreign investors: the $5 million “gold card” visa. This program, which provides permanent residency and a pathway to U.S. citizenship, is set to replace the existing EB-5 immigrant investor visa program. Trump revealed the plan aboard Air Force One during a press event, showcasing the shiny gold card adorned with his image, the Statue of Liberty, and a bald eagle.
“For $5 million, this could be yours,” Trump remarked while holding up the card. He described it as a “better and more sophisticated” alternative to the green card, emphasizing its appeal to wealthy individuals.
The constitutionality of Donald Trump’s proposed “gold card” visa program is questionable, primarily because Congress governs immigration policy and visa categories under Article I, Section 8 of the U.S. Constitution.
The Immigration and Nationality Act (INA) establishes visa categories, including the EB-5 investor visa program that Trump seeks to replace. Only Congress can amend or create new visa categories, meaning the president cannot unilaterally implement the “gold card” program without legislative approval.
The current process to become a United States citizen includes:
- Lawful Permanent Residency: Applicants must hold a green card for at least five years (or three years if married to a U.S. citizen) and meet residency requirements.
- Continuous Residence: The applicant must have lived in the U.S. for at least 30 months out of the last five years (or 18 months out of three years for spouses of U.S. citizens).
- Physical Presence: Extended absences from the U.S. may affect eligibility.
- Good Moral Character: USCIS reviews criminal history, tax compliance, and adherence to immigration laws.
- English and Civics Test: Most applicants must demonstrate basic English proficiency and pass a test on U.S. history and government unless exempted.
Currently, the Republican party is revoking visas, particularly targeting international students. Over the past month, hundreds of student visas have been revoked, with reports indicating at least 300 cancellations as part of a broader crackdown. Many students were informed abruptly via text or email and were required to leave the U.S. immediately. In some cases, individuals were detained or deported without prior notice.
The gold card visa offers benefits similar to those of green cards, including permanent residency and work authorization in the U.S., but with added privileges and a streamlined path to citizenship.
Applicants must pay $5 million and undergo a vetting process to ensure they are “world-class global citizens,” according to Commerce Secretary Howard Lutnick.
The program is expected to launch in two weeks, with Trump projecting high demand from wealthy individuals worldwide. Lutnick noted that over 250,000 people have already expressed interest in applying for the gold card.
The gold card will replace the EB-5 visa program, which required foreign investors to contribute around $1 million to U.S. businesses and create at least ten full-time jobs for American workers. This program was established by Congress.
Unlike EB-5 visa holders, gold card recipients will not be required to pay U.S. taxes on income earned abroad—a detail that could attract international investors.
Investment-based visas are not unique to the U.S.; over 100 countries offer similar programs. Nations like Portugal, Spain, and Malta provide residency or citizenship in exchange for investments ranging from hundreds of thousands of dollars.
