NRI PULSE STAFF REPORT
Washington DC, February 26, 2025: Speaking at the Oval office yesterday, President Donald Trump announced a new immigration initiative, the “Gold Card,” which aims to replace the existing EB-5 Immigrant Investor Program. The new program offers a direct pathway to U.S. permanent residency and citizenship for wealthy foreign investors willing to pay $5 million to the U.S. government.
The current EB-5 program requires foreign investors to invest at least $1.05 million (or $800,000 in targeted employment areas) and create at least ten full-time jobs for U.S. workers. Commerce Secretary Howard Lutnick described the EB-5 system as “full of nonsense, make-believe, and fraud,” emphasizing the need for a simpler, more transparent alternative.
“It’s going to give you green card privileges plus it’s going to be a route to (American) citizenship, and wealthy people would be coming into our country by buying this card,” Trump said.
Under the Gold Card initiative, investors would no longer be required to fulfill job creation requirements but would instead provide a direct financial contribution to the U.S. economy. Trump has framed the initiative as a way to attract “big taxpayers and big job creators,” with an estimated one million Gold Cards potentially generating $5 trillion in revenue, which could help reduce the national debt.
The eligibility criteria and vetting processes for Gold Card applicants have yet to be fully detailed.
