By Springs News NG – February 27, 2025

Former President Donald Trump announced Tuesday his plan to introduce a “Golden Card” visa, a new pathway to U.S. permanent residency for wealthy foreign investors. The initiative, which requires a “modest fee” of $5 million, is set to replace the EB-5 visa program that has been in effect for 35 years.

“They will be rich and successful, they will spend a lot of money, they will pay a lot of taxes, and they will employ a lot of people. We believe it will be a great success,” Trump stated during a press conference in the Oval Office.

A Replacement for the EB-5 Visa

Commerce Secretary Howard Lutnick confirmed that the Golden Card will officially replace the EB-5 visa in two weeks. The EB-5 program, created by Congress in 1990, required foreign investors to invest around $1 million in a business that creates at least 10 jobs in the U.S. However, concerns over fraud and misuse led to calls for reform.

The Golden Card, described as a more “exclusive and sophisticated” version of the Green Card, aims to attract high-net-worth individuals while eliminating loopholes that have plagued the EB-5 program. Unlike traditional pathways to citizenship, the new visa is positioned as a revenue-generating initiative.

Key Features of the Golden Card Program

• Requires a $5 million investment in the U.S. economy.
• Grants permanent residency and a potential path to citizenship.
• Limited issuance—Trump suggested capping it at 10 million Golden Cards.
• Designed to reduce the federal deficit by bringing in substantial foreign capital.

Investor visa programs are not unique to the U.S.; countries such as the UK, Spain, Greece, Malta, Australia, Canada, and Italy already offer similar “golden visas” to wealthy individuals willing to invest in their economies.

Bypassing Congress?

While Congress typically sets immigration laws, Trump suggested the Golden Card program could be implemented without legislative approval. However, legal experts have questioned whether such a major policy shift could bypass congressional oversight.

Trump emphasized that this initiative would not only attract wealthy investors but also support skilled workers. “It’s kind of like a Green Card, but at a higher level of sophistication. It’s a pathway to citizenship for rich people and for people with great talent—where rich people pay for talented people to come in,” he explained.

As the official launch date nears, further details about the eligibility criteria and application process are expected to be released.