Former U.S. President Donald Trump has unveiled a new “Gold Card” residency permit, priced at $5 million, aimed at attracting wealthy foreign investors to the United States. This high-value residency initiative is set to replace the existing EB-5 Immigrant Investor Program, which has long been a gateway for foreign entrepreneurs seeking a U.S. Green Card.
Key Differences Between the Gold Card and Green Card
- Investment Requirement:
The Gold Card mandates a $5 million direct payment, while the EB-5 program requires an investment between $900,000 and $1.8 million in U.S. businesses, depending on location. - Path to Citizenship:
Both the Gold Card and Green Card offer pathways to U.S. citizenship, but the Gold Card is designed to expedite residency for ultra-high-net-worth individuals. - Program Objectives:
Unlike the EB-5 program, which focuses on job creation in targeted areas, the Gold Card aims to boost the U.S. economy by attracting affluent individuals who can contribute through substantial investments and spending. - Processing and Oversight:
The EB-5 program has faced issues such as application backlogs and fraud concerns. The Gold Card proposal includes enhanced vetting procedures to ensure a smoother and more secure residency process.
While the introduction of the Gold Card is expected to bring significant economic benefits, the initiative’s implementation and potential legal challenges remain under discussion. The move signals a shift toward prioritizing wealth-based immigration, sparking debates on accessibility and fairness in the U.S. residency system.
