In a move to revamp U.S. immigration policies, President Donald Trump has announced the launch of a “Gold Card” program aimed at attracting affluent foreign investors. This initiative is set to replace the existing EB-5 visa program, which allowed foreign nationals to secure permanent residency by investing in U.S. businesses that create jobs. Under the new program, investors must commit $5 million to obtain U.S. citizenship, aligning with Trump’s “America-first” economic agenda. The program is designed to attract “very high-level individuals” who can significantly contribute to the U.S. economy.
The Gold Card program is part of Trump’s broader strategy to align immigration policies with economic growth objectives. By targeting high-income investors, the administration aims to boost job creation and stimulate economic activity. The program also seeks to reduce the federal deficit by generating revenue from the sale of these cards. Trump highlighted that the Gold Card will offer benefits similar to those of a Green Card but with an expedited path to citizenship for those who meet the investment criteria.
Critics have voiced concerns about the program’s accessibility and its potential to prioritize wealth over merit-based immigration criteria. The EB-5 program, which the Gold Card is replacing, faced criticism for alleged misuse and fraud. To address these concerns, the new program is expected to implement stricter vetting processes to ensure that applicants are “outstanding global citizens.” Despite these efforts, the program’s focus on wealth may deter middle-tier investors, pushing them to explore alternative visa options or invest in other countries.
The introduction of the Gold Card program is likely to have significant implications for foreign investors, particularly those from countries like India, who have been major beneficiaries of the EB-5 visa. The increased investment requirement may deter some investors, but Trump’s administration believes the Gold Card will provide a more streamlined system for high-net-worth individuals. However, the program’s implementation may face legal hurdles as it requires congressional approval to fully replace existing immigration laws. As the program moves forward, it will be important to monitor its impact on both the U.S. economy and global investment trends.
Source: France 24
