Trump’s New $5M “Gold Card” Visa to Replace EB-5 Program

The Trump administration has introduced a new $5 million investment visa, the "Gold Card," aimed at replacing or restructuring the EB-5 Immigrant Investor Program.

President Donald Trump and Commerce Secretary Howard Lutnick announced the initiative from the Oval Office, emphasizing a fast-tracked route to U.S. residency and eventual citizenship for high-net-worth individuals.

$5M for a U.S. Visa: How the Gold Card Works

• Direct Payment to the U.S. Government: Investors must pay $5 million upfront—unlike the EB-5 program, which requires job-creating investments.

• Green Card-Like Benefits: Holders would gain permanent residency with a “strong route” to citizenship.

• Taxation Rules: No U.S. taxes on foreign income, but full taxation on earnings within the U.S.

• Massive Revenue Potential: The administration aims to attract one million investors, potentially generating $5 trillion.

• Fast Implementation: The program is set to launch within weeks.

“We’re going to be selling a Gold Card,” Trump stated. “Wealthy people will come in, spend money, pay taxes, and create jobs.”

Will the EB-5 Visa Be Eliminated or Integrated?

Commerce Secretary Howard Lutnick strongly criticized the EB-5 program, calling it “full of nonsense, make-believe, and fraud.” While the administration initially framed the Gold Card as a replacement, Lutnick later indicated that EB-5 might be modified rather than scrapped to fit within the new system.

For current EB-5 investors, the 2022 RIA regulations provide grandfathering protections. Those who apply before February 2026 will remain covered under the existing EB-5 rules, even if the program undergoes major changes.

Does the Gold Card Need Congressional Approval?

The Trump administration is presenting the Gold Card as a visa rather than direct citizenship, a distinction that could allow it to bypass Congress. Trump clarified that while the program provides a "strong path to citizenship," full naturalization would still require legislative approval.

The funds collected from the Gold Card program would reportedly be directed toward reducing the U.S. national debt, currently estimated at $35 trillion.

With a launch expected within weeks, the Gold Card marks a major shift in U.S. investment immigration policy. It will offer a high-priced, fast-track residency option for the ultra-wealthy while leaving the future of EB-5 uncertain.