United States President Donald Trump has unveiled plans to introduce a “gold card” resident visa program for foreigners, offering a pathway to citizenship along with privileges similar to a green card. This new scheme would replace the current “EB-5” visa program, which has been criticized by Trump’s Commerce Secretary for its fraudulent practices and setup.

Trump explained the initiative during a press briefing, stating that “It’s going to give you green card privileges, plus a route to citizenship,” emphasizing that holders of the “gold card” would be considered “wonderful, world-class global citizens.”

The EB-5 visa program, implemented in 1990, allows foreigners to acquire a green card by investing roughly $1 million in businesses that employ at least ten people, providing an expedited path to citizenship. However, the program is under scrutiny for potential fraud and low prices. The Commerce Secretary, Howard Lutnick, remarked that the EB-5 program was ridden with “nonsense, make-believe and fraud” and was exploited as a cheap way to obtain a green card.

According to the US Citizenship and Immigration Services, the EB-5 program aims to stimulate the US economy through job creation by foreign investors. Critics argue the EB-5 program has been affected by fraud and difficulties in tracking the origins of funds. Furthermore, there is a cap of 10,000 visas per year for the program.

The applicants for the proposed “gold card” must be individuals with substantial financial means and would undergo rigorous vetting processes. While not specifying any job-creation requirement from importation, Trump mentioned the possibility of selling up to 10 million visas to help reduce the national deficit. The exact cost of the visa application is set at approximately $5 million, with further details to be announced within two weeks.

The implementation of this “gold card” visa program comes alongside Trump’s ongoing strict immigration policies, which include plans for mass deportations of undocumented immigrants. Critics and legal experts speculate that Trump’s attempt to establish this program without congressional approval could lead to further controversy, as Congress traditionally determines the criteria for citizenship under the EB-5 program.

Source: https://www.aljazeera.com/news/2025/2/26/trumps-gold-visa-who-qualifies-what-it-costs-and-why-its-divisive?traffic_source=rss