The US government is launching a new visa program, known as the “Gold Card” visa, which will allow wealthy foreign nationals to apply for permanent residency in exchange for a $5 million investment. This initiative is announced by President Donald Trump and aims to attract foreign investments, encourage economic growth and reduce national debt.
Features of Gold Card Visa
- Investment Requirement: Applicants must invest $5 million in the US economy.
- Residency and Citizenship: The program offers a way to permanent US residency and eventual citizenship.
- Replacement for EB-5 Program: The Gold Card visa will replace the existing EB-5 immigrant investor scheme, which currently requires a lower investment threshold of $800,000 to $1 million and creates at least 10 jobs for American workers.
Benefits
- Revenue Generation: The program is expected to generate revenue for the US economy, with the potential to sell up to 1 million Gold Cards, generating $5 trillion.
- Economic Growth: The initiative aims to attract high-net-worth individuals who will bring businesses & opportunities to America, encouraging economic growth and jobs.
- National Debt Reduction: The program is seen as a means to reduce the national debt, with Commerce Secretary Howard Lutnick stating that the revenue generated could “pay for everything”.
Next Steps
- Registration Portal: A dedicated website, TrumpCard.gov, is expected to go live within a week, allowing interested individuals to register their interest in buying a Gold Card.
- Details and Implementation: Further details about the program will be released in the coming weeks, with the US government expecting to start the program soon.
