Trump’s Gold Card Program Opens Doors for the Rich

Key Takeaways

• Gold Card offers U.S. permanent residency and citizenship for a $5 million investment starting late May 2025.
• Program aims to replace EB-5 with no job creation required, managed by Department of Commerce.
• Legal experts state congressional approval required; program likely faces litigation and regulatory challenges.

Summary and Effective Date

On May 22, 2025, Commerce Secretary Howard Lutnick announced that the Trump administration’s new “Gold Card” program will officially launch within a week. This program, first introduced by President Trump in February 2025, is designed to offer wealthy foreign nationals a direct path to U.S. permanent residency and eventual citizenship in exchange for a $5 million investment. According to Lutnick, the website for the Gold Card program will go live imminently, allowing eligible applicants to register and begin the process.

The Gold Card program represents a major shift in U.S. immigration policy, especially for high-net-worth individuals seeking residency in the United States 🇺🇸. The administration claims that the program will be implemented by executive action, with the intention of replacing the existing EB-5 Immigrant Investor Program. However, significant legal and procedural questions remain about whether such a change can be made without congressional approval.

Background and Reasons for the Gold Card Program

The Trump administration has positioned the Gold Card program as a way to attract substantial foreign investment to the United States 🇺🇸. The program’s main selling points include:

– A $5 million investment threshold, which is significantly higher than the current EB-5 program requirements
– No job creation requirement, making it easier and faster for wealthy individuals to qualify
– A streamlined path to permanent residency and citizenship
– Potential tax exemptions on overseas income for Gold Card holders

According to Commerce Secretary Lutnick, the program is intended to appeal to high-net-worth individuals from around the world, including Russian oligarchs and other wealthy foreigners. Lutnick has also stated that companies will be able to purchase Gold Cards for key employees, further expanding the program’s reach.

The administration argues that the Gold Card program will generate significant revenue for the U.S. government and help position the United States 🇺🇸 as a top destination for global wealth. By removing the job creation requirement and raising the investment bar, the Trump administration claims the program will be less susceptible to fraud and abuse than the EB-5 program, which has faced criticism for lax oversight and questionable projects.

Affected Aspects of U.S. Immigration Law

The Gold Card program, as described by Secretary Lutnick and President Trump, would have a direct impact on several key areas of U.S. immigration law:

• Investor Visa Pathways: The program is intended to replace the EB-5 Immigrant Investor Program, which has been a mainstay of U.S. immigration policy since 1990.
• Permanent Residency and Citizenship: Gold Card holders would be granted lawful permanent resident status (a “green card”) and a clear path to U.S. citizenship.
• Taxation: The program may offer exemptions from U.S. taxes on overseas income, a feature not available under current law.
• Program Administration: Unlike the EB-5 program, which is managed by U.S. Citizenship and Immigration Services (USCIS), the Gold Card program would be administered by the Department of Commerce.

Legal Authority and Implementation Challenges

One of the most controversial aspects of the Gold Card program is the administration’s claim that it can be implemented by executive action, without the need for congressional approval. The EB-5 program was created by Congress in 1990 and is codified in the Immigration and Nationality Act. It was recently updated and extended by the EB-5 Reform and Integrity Act of 2022, which authorizes the Regional Center program through September 30, 2027.

Legal experts, including the American Immigration Lawyers Association (AILA), have pointed out that the president does not have the authority to unilaterally end or replace the EB-5 program. Any changes to the program’s core requirements or its existence would require new legislation passed by both chambers of Congress. As a result, there is significant uncertainty about how the Trump administration plans to move forward with the Gold Card program without violating existing law.

Key Legal Concerns:
– Congressional Authority: Only Congress can create or eliminate visa categories established by statute.
– Program Overlap: The EB-5 program remains authorized and operational until at least September 2027.
– Potential Litigation: Any attempt to bypass Congress could result in lawsuits and legal challenges from stakeholders.

Comparison with the EB-5 Program

The Gold Card program is being promoted as a replacement for the EB-5 Immigrant Investor Program, but there are several important differences between the two:

Key Differences Explained:
– Investment Amount: The Gold Card’s $5 million requirement is much higher, targeting only the ultra-wealthy.
– Job Creation: EB-5 applicants must prove their investment creates at least 10 full-time jobs for U.S. workers. The Gold Card has no such requirement, making it more attractive for passive investors.
– Oversight and Administration: The EB-5 program is managed by USCIS, with established procedures and oversight. The Gold Card would be run by the Department of Commerce, but details about application processing, background checks, and fraud prevention have not been released.
– Legal Foundation: EB-5 is firmly established in U.S. law, while the Gold Card’s legal standing is uncertain and may face court challenges.

Implications for Different Groups

The Gold Card program, if implemented, would have wide-ranging effects on various groups:

1. Wealthy Foreign Nationals
– Pros: Easier and faster access to U.S. residency and citizenship without the need to create jobs or manage a business.
– Cons: High cost ($5 million), uncertainty about legal status, and possible future changes if Congress intervenes.

2. U.S. Employers and Companies
– Pros: Ability to sponsor key foreign employees for permanent residency through company-purchased Gold Cards.
– Cons: Lack of clarity on how this would work in practice and whether it would face legal or regulatory hurdles.

3. U.S. Economy and Labor Market
– Pros: Potential for increased foreign investment and government revenue.
– Cons: No direct benefit to job creation or filling labor shortages, which remain a pressing issue with over 8 million open jobs in the U.S. economy, according to the Bush Institute.

4. Immigration Attorneys and Service Providers
– Pros: New business opportunities if the program is implemented.
– Cons: Legal uncertainty and risk of advising clients on a program that may be challenged or overturned.

5. Existing EB-5 Investors
– Pros: None apparent; may face increased competition or program changes.
– Cons: Uncertainty about the future of their investments and immigration status if the EB-5 program is replaced or altered.

6. U.S. Government and Regulatory Agencies
– Pros: Potential for increased revenue from high-value applicants.
– Cons: Need for new oversight mechanisms, risk of fraud or abuse, and possible legal challenges.

Examples and Scenarios

Example 1: A Russian Business Owner
A Russian entrepreneur with $10 million in liquid assets is seeking to relocate to the United States 🇺🇸. Under the EB-5 program, they would need to invest at least $800,000 in a targeted employment area and create 10 jobs. With the Gold Card, they could simply pay $5 million and obtain permanent residency, with no job creation or business management required.

Example 2: A Multinational Corporation
A global tech company wants to bring a top executive from its Singapore office to the United States 🇺🇸. Under current law, the company would need to sponsor the executive for an employment-based green card, a process that can take years. With the Gold Card, the company could purchase a card for the executive, granting immediate permanent residency.

Example 3: An Existing EB-5 Investor
A Chinese investor has already invested $900,000 in an EB-5 Regional Center project and is waiting for their green card. The introduction of the Gold Card program creates uncertainty about whether their application will be processed or if the program will be replaced, leaving their investment and immigration status in limbo.

Implementation Timeline

• February 2025: President Trump announces the Gold Card program, stating it will replace EB-5 within two weeks.
• March 2025: Secretary Lutnick claims 1,000 Gold Cards have already been “sold,” though the program is not yet operational.
• May 22, 2025: Lutnick announces the Gold Card website will launch within a week.
• Late May/Early June 2025: Expected official launch of the Gold Card application portal.
• September 30, 2027: Current EB-5 Regional Center program authorization expires, unless extended by Congress.

Legal and Policy Outlook

The future of the Gold Card program is uncertain. While the Trump administration is moving forward with the launch, most legal experts agree that only Congress can create or eliminate visa categories like EB-5. Any attempt to implement the Gold Card program by executive action is likely to face legal challenges from immigration attorneys, advocacy groups, and possibly affected investors.

Key Issues to Watch:
– Will Congress intervene to block or modify the program?
– How will courts respond to lawsuits challenging the administration’s authority?
– Will the Department of Commerce establish robust vetting and anti-fraud measures?
– How will the program affect the existing EB-5 backlog and pending applications?

Comparison with International Residency-by-Investment Programs

Residency-by-investment programs are not unique to the United States 🇺🇸. Many countries, including Portugal, Malta, and Canada 🇨🇦, offer similar pathways for wealthy individuals. However, international experience suggests that such programs often generate limited economic benefits for large economies and can be vulnerable to abuse.

According to analysis by VisaVerge.com, countries with high investment thresholds and minimal residency requirements tend to attract applicants seeking a “plan B” rather than those who intend to contribute to the local economy. This has led to criticism that these programs allow the wealthy to “buy” citizenship or residency without meaningful integration or economic impact.

Official Government Resources

For the most current information on U.S. immigrant investor programs, including the EB-5 visa, readers should consult the official USCIS EB-5 Immigrant Investor Program page.

Actionable Takeaways and Next Steps

• Potential applicants should closely monitor official announcements from the Department of Commerce and the White House for updates on the Gold Card program’s launch and eligibility requirements.
• Immigration attorneys should advise clients about the legal uncertainties and potential risks associated with applying for a program that may face court challenges or congressional intervention.
• Current EB-5 investors should stay informed about any changes to the program and consult with legal counsel about the possible impact on their pending applications.
• Employers considering the Gold Card for key employees should seek detailed guidance once the program’s rules and procedures are published.
• All stakeholders should rely on official government sources and reputable immigration news outlets for accurate, up-to-date information.

The coming weeks will be critical in determining whether the Trump administration’s Gold Card program will become a permanent fixture in U.S. immigration policy or face significant legal and political obstacles. As always, those interested in U.S. residency and citizenship through investment should proceed with caution and seek professional advice before making any commitments.

Learn Today

Gold Card Program → US immigration initiative offering residency for $5 million investment without job creation requirements.
EB-5 Program → Existing U.S. investor visa requiring job creation and lower investment threshold of $800k-$1.05 million.
Executive Action → Government directive by president to implement policies without congressional legislation.
Permanent Residency → Lawful status allowing non-citizens to live and work indefinitely in the U.S.
Congressional Authority → Legal power of the U.S. Congress to create or repeal immigration visa programs.

This Article in a Nutshell

The Gold Card program, launching soon, promises wealthy investors permanent U.S. residency for $5 million, bypassing traditional EB-5 job requirements. Legal authority remains contested, with Congress likely needed for approval, raising questions about the program’s future impact on immigration investment policies and economic benefits for the United States.
— By VisaVerge.com

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