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"gold card" visa program was announced by President Donald Trump on February 25, 2025, as a new immigration initiative. This program offers wealthy foreign nationals a pathway to permanent U.S. residency and eventual citizenship in exchange for a $5 million investment. Designed to replace the existing EB-5 investor visa program, the gold card aims to attract affluent individuals who can significantly contribute to the U.S. economy.
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Requirements and Price The primary qualification for the gold card visa is a $5 million payment to the U.S. government. The gold card program simplifies the process by focusing solely on the financial contribution, in contrast to the EB-5 program, which required investors to commit funds to specific projects and create a minimum of ten full-time jobs. Commerce Secretary Howard Lutnick emphasized that applicants would undergo vetting to ensure they are "wonderful world-class global citizens"
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This substantial financial requirement positions the gold card visa as one of the most expensive investor visa programs globally. For comparison, the previous EB-5 program required investments ranging from $800,000 to $1.8 million, depending on the targeted employment area
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Implementation and Objectives
Within two weeks, the Trump administration intends to launch the gold card program, effectively ending the EB-5 program. apnews.com
. President Trump highlighted the program's potential to reduce the national deficit by attracting wealthy individuals who would spend money, pay taxes, and create jobs in the U.S. He estimated that the U.S. could sell one million or more gold cards, generating significant revenue
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Additionally, corporations can purchase gold cards on their behalf through the program to secure residency for highly skilled workers. This provision aims to benefit companies seeking to bring top talent into the U.S. However, specific details regarding the application process and any additional requirements have not been fully disclosed.
Controversies and Criticisms
The introduction of the gold card visa has sparked debate and controversy. The program's critics contend that it commodifies U.S. citizenship, favors the wealthy, and may compromise the integrity of the immigration system. Additionally, concerns have been expressed regarding the possibility of fraud and abuse, two problems that afflicted the EB-5 program. apnews.com
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Legal experts question the administration's authority to unilaterally replace the EB-5 program without congressional approval, as the original program was established by Congress in 1990
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. National security concerns have also been raised by the inclusion of Russian oligarchs and others from nations with strained ties to the United States. When asked about this, President Trump acknowledged the possibility, stating, "I know some Russian oligarchs that are very nice people"
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Supporters of the program argue that it will inject substantial capital into the U.S. economy, create jobs, and reduce the national deficit. They contend that attracting wealthy investors can have a positive ripple effect, stimulating various sectors and contributing to economic growth.
Global Context
Investor visa programs are not unique to the United States. Countries like the United Kingdom, Canada, Australia, and several European nations have similar programs, often referred to as "golden visas," which offer residency or citizenship in exchange for significant investments. The U.S. gold card visa, on the other hand, is one of the most expensive options because it costs $5 million. apnews.com
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Global debate has centered on such programs' efficacy and morality. Proponents highlight the economic benefits and job creation potential, while detractors point to issues of inequality, potential for money laundering, and the moral implications of selling citizenship.
The "gold card" visa program was announced by President Donald Trump on February 25, 2025,
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