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President Trump Launches $1 Million “Gold Card” Program for Wealthy Immigrants
President Donald Trump unveiled his long-promised “gold card” immigration program on Wednesday, offering wealthy individuals and corporations a pathway to legal U.S. residency through significant financial investment. The program began accepting applications immediately following Trump’s announcement in the White House Roosevelt Room.
Under the new initiative, individuals can pay $1 million for legal status and an eventual path to citizenship, while corporations must invest $2 million per foreign-born employee they wish to sponsor. The program is designed to replace the existing EB-5 visa program, which Congress established in 1990 to stimulate foreign investment by offering visas to individuals who invested approximately $1 million in companies that created at least 10 jobs.
“All funds taken in as part of the program will go to the U.S. government,” Trump declared during the announcement. He predicted billions would flow into a Treasury Department account “where we can do things positive for the country.”
Despite the “gold card” name, the new program essentially functions as an enhanced green card, granting permanent legal residency with a pathway to citizenship. “Basically, it’s a green card but much better,” Trump explained. “Much more powerful, a much stronger path.”
Notably, Trump did not specify any job creation requirements for applying corporations or mention overall caps on participation, both of which exist under the current EB-5 program. Instead, he focused on addressing concerns from business leaders about their inability to retain talented international graduates from U.S. universities.
“You can’t hire people from the best colleges because you don’t know whether or not you can keep the person,” Trump said, identifying a challenge for companies wanting to recruit foreign talent.
The announcement represents an interesting pivot for a president who built his political brand on restrictive immigration policies. Trump’s administration has spent the past ten months implementing mass deportation initiatives and immigration crackdowns targeting cities including Los Angeles and Charlotte. This apparent contradiction has drawn criticism from some of his most ardent “Make America Great Again” supporters, who object to his suggestions that skilled immigrants should be welcomed into the country.
Commerce Secretary Howard Lutnick provided additional details about the program, noting it would include a $15,000 fee for applicant vetting. He emphasized that thorough background checks would “make sure these people absolutely qualify to be in America.” While companies can purchase multiple cards, each card can only sponsor one individual.
Lutnick also highlighted an economic motivation behind the program’s design, stating that current green card holders earn less money than the average American, something Trump intends to change with this new approach. “So, same visas, but now just full of the best people,” Lutnick explained.
The concept of investor visas is not unique to the United States. Dozens of countries worldwide offer versions of “golden visas” to wealthy individuals, including the United Kingdom, Spain, Greece, Malta, Australia, Canada, and Italy. These programs typically provide residency rights in exchange for substantial investment in the host country.
Trump expressed confidence that the program would attract “tremendous people” to the United States, specifically mentioning top college graduates from China, India, and France as potential recipients. “The companies are going to be very happy,” he concluded.
The introduction of this program marks a significant policy shift in the administration’s approach to certain categories of immigration, prioritizing wealth and potential economic contribution over other factors that have traditionally guided U.S. immigration policy.
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16 Comments
I’m curious to learn more about the specific details and implementation of this ‘gold card’ program. What safeguards will be in place to ensure transparency and prevent abuse?
Good question. Clear oversight and accountability measures will be crucial to upholding the integrity of the program and addressing potential concerns.
Interesting program, though it raises concerns about wealth-based immigration favoring the elite. I wonder how this will impact the existing EB-5 visa program and broader immigration policies.
You raise a good point. The $1 million price tag could make this program inaccessible to many and further skew the immigration system towards the wealthy.
This seems like another attempt to attract foreign investment, but I question whether it’s the right approach. Shouldn’t immigration policies focus more on skills and diversity rather than just wealth?
I agree, the emphasis on wealth over other qualifications is concerning. This could exacerbate existing inequalities in the immigration system.
While I understand the goal of attracting foreign investment, this ‘gold card’ program seems to prioritize wealth over other important factors like skills and diversity. We should be cautious about creating a system that favors the elite.
Well said. Maintaining a fair and inclusive immigration system that serves the broader national interest should be the top priority, not just generating revenue.
From an economic perspective, the potential influx of foreign capital is intriguing, but the ethical and social implications of this program are murky. We’ll have to see how it plays out.
Exactly, the economic benefits need to be weighed against the broader societal impacts. Immigration is a complex issue without easy solutions.
From a business perspective, the opportunity to expedite visas for high-net-worth individuals is intriguing. However, the broader social implications need to be carefully considered.
Agreed, the economic incentives must be balanced against the potential for unintended consequences on social cohesion and integration.
This is an interesting development, but I worry it could exacerbate existing inequalities in the immigration system. We need to ensure that the program doesn’t become a way for the wealthy to simply ‘buy’ their way into the country.
Absolutely, the risk of creating a two-tiered immigration system where only the wealthy can access opportunities is a serious concern that needs to be addressed.
This seems like an attempt to attract foreign investment, but I worry it could further marginalize lower-income immigrants. We should be careful not to create a two-tiered immigration system.
I share your concern. Maintaining equitable access to immigration opportunities is important for a fair and inclusive society.