Trump floats $5 million 'gold card' as a route to US citizenship

President Donald Trump said Tuesday that he plans to introduce a new investor visa program that would grant permanent legal residency and a path to citizenship for a $5 million investment in the U.S. economy.

What is the Trump Gold Card visa?

What they're saying:

Trump pitched the idea from the Oval Office, calling the new visa a replacement for the 35-year-old EB-5 investor visa program. He framed it as a way to attract wealthy and successful individuals who will contribute to the U.S. economy.
"They’ll be wealthy and they’ll be successful, and they’ll be spending a lot of money and paying a lot of taxes and employing a lot of people, and we think it’s going to be extremely successful," Trump said.

Commerce Secretary Howard Lutnick confirmed that the administration plans to roll out the program within two weeks, saying the revised process would reduce fraud and inefficiencies in the EB-5 system.

How would it differ from the EB-5 visa?
Dig deeper:

The EB-5 visa program, established in 1990, has granted investor visas to about 8,000 people per year, according to Homeland Security data.

Under the EB-5 program, foreign investors must invest at least $1 million (or $800,000 in targeted areas) in a U.S. business that creates at least 10 jobs. The Congressional Research Service has previously raised concerns about fraud and verification of funds under EB-5 rules.

The Trump Gold Card, however, would eliminate the job creation requirement and significantly raise the cost—setting the price at $5 million per applicant.

Trump also suggested there would be no cap on how many visas could be sold, even floating the idea of issuing 10 million gold cards to help reduce the federal deficit.

How does this compare to other countries?
The other side:

Investor visas—often called "golden visas"—are common worldwide. More than 100 countries, including the United Kingdom, Spain, Greece, Canada, and Australia, offer similar pathways to residency or citizenship through investment, according to Henley & Partners, an immigration advisory firm.

Some programs require real estate investments, while others, like the U.S. EB-5, focus on business investment and job creation. The Trump administration has not yet clarified whether the $5 million must be allocated to specific sectors or industries.

Could this policy be implemented without Congress?
What we know:

Congress typically sets the qualifications for U.S. citizenship, but Trump suggested that his gold card program would not require congressional approval.

"It’s somewhat like a green card, but at a higher level of sophistication... It’s a road to citizenship for people, and essentially people of wealth or people of great talent," Trump said.

What we don't know:

It remains unclear how the administration plans to implement the program or whether it will face legal challenges.

What's next:

The Trump administration plans to roll out the new investor visa program in two weeks, according to Lutnick. However, further details on specific investment requirements, eligibility, and implementation have not yet been released.

Congress could weigh in on the proposal, particularly given the ongoing debate over immigration reform and concerns over security and fraud in investor visa programs.

For now, potential applicants—and lawmakers—are waiting to see how the administration moves forward with the proposed "Trump Gold Card" visa.