In a major shift in U.S. immigration coverage, President Donald Trump has introduced the approaching launch of the ‘gold card’ visa program. It affords overseas nationals a pathway to everlasting residency and eventual citizenship in change for a $5 million funding. The announcement was made on May 21 at Axios’s ‘Building the Future’ occasion in Washington DC.
Also Read: Trump plans to supply ‘gold cards’ for $5 million path to citizenship, changing investor visas
Commerce Secretary Howard Lutnick revealed {that a} web site known as ‘trumpcard.gov’ will go up in about every week with additional particulars and people within the program can begin registering.
What is the ‘gold card’ visa programme?
The gold card visa is a brand new initiative to entice prosperous people to spend money on the U.S. economic system. In return for a $5 million funding, candidates will obtain everlasting residency rights akin to these granted by a inexperienced card and a streamlined route to U.S. citizenship. This programme is set to substitute the EB-5 investor visa scheme, which requires a decrease funding threshold and mandates job creation.
When and the way can one apply?
Prospective candidates can register their curiosity and entry detailed data about the appliance course of on ‘trumpcard.gov’. The initiative has garnered consideration, with stories indicating that some playing cards have been bought within the Middle East, signalling robust early curiosity.
Is the ‘gold card’ visa programme authorized?
The Trump administration tasks that the ‘gold card’ programme may generate substantial income, probably aiding in decreasing the nationwide debt, which at present exceeds $36 trillion. However, the program’s legality has been a subject of debate. Some lawmakers argue that such a major change in immigration coverage requires Congressional approval.
What about the EB-5 program?
The EB-5 program was created by the U.S. Congress in 1990 to stimulate the U.S. economic system by way of job creation and capital funding by overseas buyers. Under this programme, a overseas investor can apply for a Green Card if she or he invests in a U.S. industrial enterprise and creates 10 everlasting full-time jobs for U.S. staff.
Rand Paul, a Republican Senator from Kentucky, expressed his concern in dismantling the earlier visa framework by saying, “I don’t think it should replace the EB-5 because I think there are a lot of people who come to this country with the EB-5 level that might not come at the $5 million level.”
However, it is unlikely that the EB-5 programme may be abolished, even by a presidential order.
President Joe Biden signed the EB-5 Reform and Integrity Act in 2022, which reauthorised the programme till 2027. The invoice additionally included a provision to defend EB-5 buyers who’ve invested, or plan to make investments, earlier than September 2026 within the occasion of a future lapse within the EB-5 RC programme. Since the immigration and nationality legal guidelines are protected underneath the U.S. structure, a brand new laws should be handed by way of Congress to terminate the EB-5 programme.
Published – May 23, 2025 03:20 pm IST
