President Donald Trump announced on Wednesday that his long-promised “gold card” visa program is now officially open for applications.
The initiative offers foreign investors and corporations a pathway to permanent residency and eventual U.S. citizenship for individuals willing to pay $1 million, or $2 million per foreign-born employee for companies.
A dedicated website for applications went live as Trump unveiled the program in the White House’s Roosevelt Room, surrounded by business leaders.
The gold card is designed to replace the EB-5 visa, which Congress created in 1990 to attract foreign investment. Under the old system, investors had to spend about $1 million on a business that employed at least ten U.S. workers.
A New Route for Skilled Immigrants
Trump said the program is aimed at attracting top talent while generating revenue for the federal government. “Basically, it’s a green card but much better,” Trump said. “Much more powerful, a much stronger path.”
Unlike the current EB-5 program, Trump did not specify job creation requirements for corporations or mention caps on the number of visas.
Instead, he highlighted complaints from business leaders struggling to hire foreign 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,” he said.
Oversight and Application Process
Commerce Secretary Howard Lutnick said the program will include a $15,000 fee for vetting applicants, and the process will ensure that only qualified individuals are allowed to enter the U.S. Companies can sponsor multiple gold cards, but each individual will be limited to one card.
Lutnick also noted that current green card holders earn less than the average American, and Trump wants the program to bring in higher-earning, skilled immigrants. “Same visas, but now just full of the best people,” he said.
Global Context and Target Applicants
Investor visas, also known as “golden visas,” are offered by many countries, including the United Kingdom, Spain, Greece, Malta, Australia, Canada, and Italy.
Trump indicated that the program will focus on highly skilled graduates from countries such as China, India, and France. “The companies are going to be very happy,” he said.
Trump emphasised that all funds collected through the program will go to the U.S. Treasury to support national priorities, predicting billions would flow into government accounts for positive uses.