President Donald Trump has introduced a highly anticipated ‘gold card’ program that offers legal status and a path to U.S. citizenship for individuals willing to invest $1 million. The launch of the program, held at the White House with business leaders in attendance, saw the opening of a website for applications on Wednesday, December 10.
Just moments before the unveiling, Trump announced on Truth Social that the ‘Trump Gold Card’ was now available, providing a direct route to citizenship for qualified individuals. The initiative aims to replace the existing EB-5 visa program, established in 1990 to attract foreign investment by requiring a $1 million investment in a company employing at least 10 people.
Under Trump’s new program, individuals can secure the visa by meeting the full investment amount, while corporations must invest up to twice that amount per foreign employee. Trump views this updated version as a strategy to attract and retain top talent in the U.S., while also boosting federal revenue.
All funds generated through the program will be directed to the U.S. government, with Trump anticipating billions flowing into a Treasury Department account for national benefit. The initiative essentially offers a green card, granting permanent legal residency and a potential pathway to citizenship. Trump emphasized that this program provides a more robust and advantageous route compared to a traditional green card.
Notably, Trump did not outline specific job creation requirements for corporations applying to the program, nor did he mention any caps on participation, unlike the current EB-5 program. His focus was on addressing challenges faced by businesses in hiring talented graduates from foreign countries who lack permission to remain in the U.S.
In response to the need for skilled workforce retention, Trump highlighted the significance of facilitating the hiring of exceptional graduates from U.S. universities, regardless of their nationality. The program aims to streamline the process for companies seeking to retain top-tier talent in the country.