Residency for Sale: Trump Revives "Gold Card" Visa for $5 Million

On February 25, 2025, President Trump announced plans for a "gold card" visa offering U.S. permanent residency to foreign nationals who pay $5 million, intended to replace the existing EB-5 investor visa program. Trump said the program could roll out within weeks and suggested proceeds could help reduce the federal deficit, framing it as an economic boost rather than a traditional investment vehicle.

Unlike EB-5, which requires job-creating investment, the gold card was described as effectively a payment for residency with no expectation of financial return. Critics, including Representative Ro Khanna, argued the plan favored wealth over merit or humanitarian considerations, and some analysts noted potential hidden tax advantages for wealthy applicants.

The program's structure shifted after the initial announcement: later in 2025 the administration launched a version charging $1 million for individual expedited visas or $2 million for employer-sponsored workers, rather than the original flat $5 million fee.