On May 22, 2025, U.S. President Donald Trump unveiled the Gold Card Visa Programme during the Building the Future event in Washington, D.C. This initiative, aimed at attracting wealthy foreign nationals, offers permanent residency and a pathway to citizenship for a $5 million investment. Designed to replace the existing EB-5 investor visa scheme, the programme has sparked discussions about its economic and legal implications, making it a key topic for competitive exam aspirants studying U.S. immigration policies and economic strategies.
What is the Gold Card Visa Programme?
Overview and Objectives
The Gold Card Visa Programme is a new immigration initiative targeting high-net-worth individuals who can invest $5 million to secure permanent residency in the United States, akin to a green card. Unlike the EB-5 programme, which emphasizes job creation, the Gold Card focuses on attracting substantial foreign capital to stimulate the U.S. economy. The Trump administration claims this programme will streamline the process for affluent individuals seeking U.S. citizenship, potentially generating significant revenue to address the $36 trillion national debt.
Application Process and Interest
How to Apply
Prospective applicants can register their interest on the official website, trumpcard.gov. This platform provides detailed information about the application process, including vetting procedures to ensure applicants are world-class global citizens. U.S. Commerce Secretary Howard Lutnick reported strong early interest, particularly from Middle Eastern investors, with over 1,000 cards sold within a week, generating $5 billion for the U.S. Treasury.
| Programme | Investment Required | Key Features |
|---|---|---|
| Gold Card Visa | $5 million | Permanent residency, pathway to citizenship, no explicit job creation requirement |
| EB-5 Visa | $1.05 million or $800,000 (in targeted areas) | Permanent residency, requires creation of 10 full-time U.S. jobs |
Legal and Political Context
Debate Over Legality
The Gold Card Visa Programme has raised concerns about its legal feasibility. Critics argue that replacing the EB-5 programme, established by Congress in 1990, requires Congressional approval. The U.S. Constitution grants Congress plenary power over immigration laws, meaning the Trump administration cannot unilaterally terminate the EB-5 programme. Any attempt to do so may face judicial challenges. The administration, however, asserts that the programme falls under executive authority and does not require legislative changes.
The EB-5 Investor Visa Programme
Understanding EB-5
The EB-5 Immigrant Investor Programme, launched in 1990, allows foreign investors to obtain a green card by investing $1.05 million (or $800,000 in targeted employment areas) in U.S. businesses that create at least 10 full-time jobs. Reauthorized in 2022 through the EB-5 Reform and Integrity Act, the programme is valid until September 30, 2027, with protections for investors who file before 2026. The programme has faced criticism for fraud and inefficiencies, prompting calls for reform.
Impact on EB-5 and Indian Investors
Future of EB-5 and Implications
While the Gold Card Visa aims to replace the EB-5 programme, the latter remains operational until at least 2027. The higher $5 million threshold may deter investors who rely on the EB-5’s lower investment requirements, particularly Indian investors, who have been significant participants in the EB-5 programme. In FY2024, 512 EB-5 visas were issued to Indian applicants, but the new programme’s cost could shift interest to other countries’ golden visa schemes with lower thresholds, such as Greece or Portugal.
Key Highlights
- Event Date: Announced on May 22, 2025, at the Building the Future event in Washington, D.C.
- Gold Card Visa: Requires a $5 million investment for permanent residency and a pathway to citizenship.
- EB-5 Programme: Established in 1990, requires $1.05 million or $800,000 and 10 job creations, valid until 2027.
- Legal Concerns: Replacing EB-5 may require Congressional approval, potentially leading to judicial challenges.
- Impact on India: Higher investment threshold may deter Indian investors, pushing them toward other global golden visa programmes.