Trump introduces the "Gold Card" visa, allowing foreign nationals to buy U.S. green cards for $5M. The EB-5 program is abolished—what does this mean?
In a move that is reshaping U.S. immigration policy, President Donald Trump has announced the introduction of a new visa program known as the "Gold Card." This initiative, which allows foreign nationals to purchase U.S. permanent residency for $5 million, marks a stark departure from traditional investment-based visa programs. At the same time, the administration has abolished the EB-5 Immigrant Investor Program, a system that had granted green cards in exchange for job-creating investments in American businesses.
The Gold Card program represents a dramatic shift from the previous approach. While the EB-5 visa required applicants to invest in U.S. enterprises and create jobs, the new system functions as a straightforward sale of U.S. residency, requiring no direct economic contribution beyond the lump-sum payment. The administration has justified the move as a streamlining of the immigration process for high-net-worth individuals, though critics argue it commodifies American residency, prioritizing wealth over merit or economic benefit.
During the official announcement, President Trump described the Gold Card visa as the most exclusive immigration program in the world, stating, “We are giving the best people—rich people—the opportunity to become Americans. It’s going to be great for our economy.” However, the decision has already sparked controversy, with immigration experts and lawmakers questioning the ethical and economic implications of the policy.
The EB-5 Immigrant Investor Program, established in 1990, was originally designed to attract foreign capital while creating jobs for American workers. Under this system, foreign nationals could obtain a green card by investing $500,000 to $1 million in U.S. business ventures, provided that their investment led to the creation of at least ten full-time jobs.
However, the program faced mounting criticism in recent years. Allegations of fraudulent investments, misuse of funds, and loopholes that allowed applicants to bypass job creation requirements undermined its credibility. Additionally, the backlog of EB-5 applications, particularly from Chinese investors, had led to years-long delays, making the system increasingly inefficient.
Trump’s administration viewed the program as bureaucratically cumbersome and vulnerable to exploitation. By eliminating it, the government has argued that it is removing a flawed system in favor of a more transparent and profitable alternative—one that guarantees immediate residency to those who can afford it.
Critics, however, argue that while EB-5 had its flaws, it at least ensured that foreign money flowed into U.S. businesses and contributed to economic growth. By replacing it with a program that requires no direct investment, the U.S. may be prioritizing short-term revenue collection over long-term economic benefits.
The newly introduced Gold Card visa aims to attract the world’s wealthiest individuals by offering a direct pathway to U.S. residency. Unlike previous visa programs that required job creation or business investments, the Gold Card is purely transactional—those who pay $5 million upfront receive a U.S. green card with no additional requirements.
According to official statements, the key benefits of the Gold Card visa include:
- Instant permanent residency for applicants and their immediate families.
- No restrictions on employment or business activity—recipients can live and work in the U.S. freely.
- A streamlined pathway to citizenship, with expedited processing for those who wish to naturalize.
While the administration argues that the program will generate billions in government revenue, critics warn that it does not guarantee job creation, business expansion, or economic contributions beyond the initial payment.
Security and Ethical Concerns
Beyond economic considerations, the Gold Card program has raised concerns about national security and ethical implications. Unlike the EB-5 visa, which required background checks on investment activities, the new system only verifies the financial standing of applicants, potentially allowing individuals with opaque financial histories to obtain U.S. residency without proper oversight.
Critics fear that the program could be exploited by foreign oligarchs, politically exposed persons, and individuals seeking to evade legal scrutiny in their home countries. With no requirement for job creation, investment in American businesses, or economic contributions, some lawmakers are questioning whether the program is simply a way for the ultra-wealthy to buy a passport with no obligations.
There is already growing political resistance to the initiative, with members of Congress calling for increased transparency in applicant vetting. Some Democratic lawmakers have expressed concerns that selling green cards undermines the integrity of U.S. immigration policy, effectively turning American residency into a privilege for the rich, rather than an opportunity for skilled workers and entrepreneurs.
Citizenship for Sale
The Gold Card is part of a broader global trend toward wealth-based immigration policies. Countries such as Portugal, Malta, and the Caribbean nations have long offered “golden visas” and citizenship-by-investmentprograms, allowing foreigners to purchase residency or passports in exchange for real estate investments or financial contributions.
However, the key difference is that most of these nations require some form of economic investment, business development, or job creation. The U.S. version of the program, in contrast, has no such requirements, making it a pure cash-for-residency transaction.
This shift raises questions about whether the U.S. is abandoning its traditional immigration principles in favor of a pay-to-stay model. Some critics argue that this move could set a dangerous precedent, encouraging other developed nations to prioritize wealth over skills, innovation, or economic contributions when granting residency.
What Comes Next?
With the Gold Card program set to launch in the coming weeks, its long-term impact remains uncertain. The administration anticipates that the initiative will generate billions of dollars in revenue, but the lack of economic and job creation incentives has raised skepticism.
Lawmakers, business leaders, and immigration experts will be closely watching how the program is implemented, who applies, and whether national security concerns emerge. As scrutiny grows, there is also the possibility of legal challenges—particularly if the program is seen as a backdoor means for controversial figures to obtain U.S. residency.
The fundamental question now is whether the U.S. is prioritizing short-term financial gains over long-term economic growth and ethical immigration policies. With mounting debate over the fairness and integrity of the system, Trump’s immigration experiment could reshape the future of U.S. residency—either as a model for efficiency or a cautionary tale of commodified citizenship.
