Trump Introduces $5 Million ‘Gold Card’ Visa Program
In a change of U.S. immigration policy, President Donald Trump has officially ended the EB-5 investor visa program, replacing it with a new initiative called the ‘Gold Card’ visa. The move is aimed at reshaping the way wealthy foreign investors gain residency in the United States.
End of the EB-5 Visa Program
The EB-5 visa program, which allowed foreign investors to obtain a U.S. Green Card by investing at least $800,000 in job-creating businesses, has faced years of controversy. Analysts claimed that wealthy individuals were misused to bypass traditional immigration pathways, while supporters believed it boosted economic growth and job creation.
Introduction of the $5 Million ‘Gold Card’ Visa
Under the new Gold Card program, investors must contribute a minimum of $5 million to the U.S. economy. The major differences between the old EB-5 visa and the new system include:
- Higher Investment Threshold:
- The minimum required investment is now $5 million, significantly higher than the previous $800,000 limit.
- Faster Processing:
- The Gold Card promises an expedited path to U.S. residency, with applications being processed in as little as six months.
- More Selective Approval:
- The program will focus on individuals who not only have the financial means but also bring significant business expertise and innovation to the U.S. economy.
The program is set to begin within the next two weeks.
Impact on Investors and the U.S. Economy
The termination of the EB-5 visa is expected to reduce the number of foreign investors seeking U.S. residency, as the higher investment requirement may be out of reach for many. However, Trump’s administration argues that the Gold Card visa will attract high-net-worth individuals who can make a substantial economic impact.
Real estate developers, who previously relied heavily on EB-5 investments, may have to look for alternative funding sources, as the new policy limits access for middle-tier investors.
