After much chaos of deporting illegal immigrants and announcing the end of US citizenship by birth, Trump brought relief to the people with the launch of the Gold Card. It is announced to boost the American economy and increase the number of jobs. Gold Card will ensure a direct route to US citizenship after one pays $5M. Read the article to get more details and insights into this program.
Trump Launches The Gold Card: What Is It?
Trump administration started selling a ‘Gold Card’ for $5M, which provides non-citizens a route to get US citizenship. This card is going to replace the EB-5 program, which has certain conditions, including setting up a business in the US and providing permanent jobs to a minimum of 10 people. Trump administration is looking forward to selling around a million Gold Cards and earning trillions, which will help reduce state debt and boost the economy.
Top 5 Features Of The Trump Gold Card
$5 Million Investment For A Path To US Citizenship
The most significant feature of the Trump Gold Card is its high investment amount of $5 million. This investment is expected to contribute to the US economy by generating business opportunities, employment, and tax revenue. While the card itself does not immediately grant citizenship, it offers permanent residency, a key step toward eventual naturalization under existing immigration laws.
Replaces The EB-5 Visa Program
Gold Card will completely replace the EB-5 visa program, which has been in place since 1990. The EB-5 program allowed foreign investors to obtain a green card by investing a minimum of $1.05 million (or $800,000 in targeted employment areas) while creating at least 10 full-time jobs for American workers. The Trump administration criticized EB-5 as ineffective and susceptible to fraud.
Permanent US Residency With Green Card Privileges
Although it does not provide automatic citizenship, the Gold Card grants permanent residency with the same privileges as a traditional green card. This means cardholders can live, work, and travel freely within the US, as well as apply for citizenship after five years of lawful residence.
Mandatory Job Creation Requirement
Another important aspect is its economic impact requirement. Like the EB-5 visa, investors must create permanent jobs in the US. This aligns with the administration’s goal of ensuring that foreign investments contribute to the country’s workforce and economy.
No Restrictions On Who Can Apply
The program is open to any wealthy individual who meets the financial and job creation criteria. Trump even suggested that Russian oligarchs could qualify, sparking debate about the ethical and security implications. However, applicants will undergo a vetting process to ensure compliance with immigration laws.
Legal Aspects & Immigration Rules
The Trump administration claims that it does not require congressional approval to implement the Gold Card program, as it falls under executive immigration policy. However, legal challenges could arise regarding its replacement of EB-5 and its alignment with existing immigration laws. Additionally, concerns about security vetting, eligibility criteria, and potential for fraud could lead to regulatory scrutiny.
How Does The Gold Card Differ From EB-5 & Green Card?
| Feature | Gold Card | EB-5 Visa | Green Card |
| Investment Amount | $5 million | $1.05M ($800K in targeted areas) | N/A |
| Residency Granted | Permanent | Permanent | Permanent |
| Citizenship Eligibility | After 5 years | After 5 years | After 5 years |
| Job Creation Requirement | Yes | Yes | No |
| Restrictions on Applicants | No | Yes (economic areas prioritized) | Varies |
Wrap Up
The Trump Gold Card is an ambitious initiative aimed at attracting wealthy investors to the US. While it offers a direct path to permanent residency, it raises questions about accessibility, fairness, and its potential economic impact. The program’s success will depend on legal approvals, investor interest, and its implementation process.
