Washington, DC – United States President Donald Trump has announced a new immigration proposal that would allow wealthy foreigners to gain US residency and eventually citizenship through a special program called the “Gold Card.” Under this plan, individuals would be able to buy a Gold Card for $5 million, granting them green-card privileges and a pathway to US citizenship. Trump believes this initiative could bring in significant revenue and help reduce the national debt.
Currently, wealthy immigrants can apply for the EB-5 immigrant investor visa program, which provides permanent residency to those who invest large sums of money into American businesses that create jobs. However, Trump stated that he wants to replace the EB-5 program with the new Gold Card system, which he claims will be more efficient and bring more financial benefits to the country.
The Gold Card Program – What It Means
During a recent press conference, President Trump explained that the Gold Card program would be a fast-track option for wealthy individuals who want to live in the United States. He said,
“We are going to be selling a Gold Card… We are putting a price on that card of about $5 million.”
He further added,
“It’s going to give you green card privileges, plus it’s going to be a route to American citizenship. Wealthy people would be coming into our country by buying this card.”
According to Trump, this plan will attract foreign investors, boost the US economy, and generate significant revenue for the government. He estimated that one million Gold Cards could be sold, which would bring in a total of $5 trillion. This money, he suggested, could help pay off the national debt and fund important projects within the country.
Comparison to the EB-5 Program
The current EB-5 immigrant investor visa program requires foreign investors to invest at least $800,000 to $1.05 million in US businesses. These investments must lead to the creation or preservation of at least 10 full-time jobs for American workers. In exchange, investors and their families are granted permanent residency (green card status) and, later, the opportunity to apply for US citizenship.
However, the EB-5 program has faced criticism over the years. Some have argued that it is too complex and time-consuming, with long wait times and strict job creation requirements. Others believe it has loopholes that have been misused by investors. Trump’s Gold Card proposal is meant to be a simpler and more direct alternative, allowing wealthy individuals to pay a fixed amount and receive residency benefits without the same level of bureaucracy.
Concerns and Controversies
While Trump’s proposal aims to attract wealthy immigrants, it has already sparked debate and concerns among experts, lawmakers, and the public.
Favoring the Wealthy Over Skilled Immigrants
Some critics argue that this system favors the rich rather than talented professionals, scientists, and entrepreneurs who could contribute to innovation and job creation.
Opponents believe immigration should be based on skills and merit, rather than just financial status.
Impact on National Security and Ethics
When asked whether Russian oligarchs would be eligible for the Gold Card, Trump responded,
“Yeah, possibly. Hey. I know some Russian oligarchs that are very nice people.”
This response raised concerns about whether the program could be used by wealthy individuals from politically sensitive countries to gain easy access to the US.
Experts worry that without strict vetting processes, the program could allow individuals with criminal backgrounds or questionable motives to enter the country.
Effects on the US Real Estate Market and Economy
Supporters of the plan argue that an influx of wealthy foreign investors could boost the real estate market, particularly in cities like New York, Miami, and Los Angeles.
However, some fear it could lead to inflated housing prices, making it harder for middle-class Americans to afford homes.
Potential for Corruption and Fraud
The existing EB-5 program has faced allegations of fraud, with some cases involving fake job creation claims and misused investment funds.
Critics warn that if the Gold Card program is not carefully managed, it could face similar problems, leading to exploitation of the system.
Political and Public Reactions
Reactions to Trump’s announcement have been divided, with some praising the idea and others strongly opposing it.
Supporters of Trump’s Plan
Those in favor believe it is a smart financial move that will generate massive revenue for the government.
Some also argue that wealthy immigrants are already contributing to the economy by buying property, investing in businesses, and creating jobs.
They see this as a fair way to attract foreign investment without increasing taxes on American citizens.
Critics of Trump’s Plan
Many immigration experts and political leaders, including members of Congress, believe that this proposal sends the wrong message about American values.
Some argue that citizenship should not be available for purchase and that the US should prioritize hardworking immigrants who contribute through skills, education, and community service.
Others see this as a “pay-to-play” system that excludes talented but less wealthy individuals who could benefit the country in other ways.
What Happens Next?
Trump mentioned that more details about the Gold Card program will be released in two weeks. His administration is expected to provide guidelines on:
Who will be eligible to apply for a Gold Card
What the requirements and conditions will be
How the application process will work
Whether any restrictions will be placed on applicants from certain countries
While Trump is confident that this plan will boost the economy, it remains to be seen whether Congress will support it. Any major immigration policy change typically requires legislative approval, and this proposal is likely to face significant debate before it can be implemented.
