Gold Card vs Green Card: How Are They Different- wna24

US President Donald Trump announced a new “Gold Card” residency permit priced at $5 million, proposing it as an alternative to the existing Green Card system. The initiative, expected to launch in two weeks, aims to replace the EB-5 immigrant investor visa programme.

The EB-5 Immigrant Investor Programme grants Green Cards to foreigners who invest in US businesses and create or preserve jobs. Trump proposed replacing it with a new Gold Card system, allowing wealthy individuals to obtain residency through a direct purchase option.

“It’s going to give you green card privileges plus a route to American citizenship,” Trump stated.

• Green Card: Grants permanent residency in the US, typically through employment, family sponsorship, or investment (via EB-5 programme).
• Gold Card: Offers the same residency benefits but for a $5 million purchase price, making the process faster and more accessible to wealthy applicants.

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Trump claimed that the new programme could generate significant revenue and help pay down the national debt. He suggested selling one million Gold Cards, predicting strong interest from global investors.

“They’ll be wealthy and they’ll be successful, and they’ll be spending a lot of money and paying a lot of taxes and employing a lot of people, and we think it’s going to be extremely successful,” Trump said in the Oval Office.

The EB-5 programme, created by Congress in 1992, allows foreigners to invest at least $1.05 million (or $800,000 in economically distressed areas) in US projects to gain a Green Card.

While the programme has financed major developments—including some linked to Trump’s family—it has also faced criticism for potential fraud and misuse.

During his first term, Trump attempted to increase the minimum investment requirement to $1.8 million, but a judge overturned the move in 2021. The Biden administration later set the current investment threshold at $1.05 million/$800,000 when it renewed the programme in 2022.

When asked whether Russian nationals could qualify, Trump responded:

“Yeah, possibly. Hey, I know some Russian oligarchs that are very nice people.”

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Commerce Secretary Howard Lutnick confirmed that the Trump Gold Card would officially replace EB-5 visas in two weeks.

Lutnick stated that the Gold Card, which functions similarly to a Green Card, would help eliminate fraud and streamline the investment process. He added:

“It’s somewhat like a green card, but at a higher level of sophistication. It’s a road to citizenship for people of wealth or people of great talent. Companies will pay for talented individuals to get in and have long-term status in the country.”

Investor visas are common worldwide. According to Henley & Partners, over 100 countries offer “Golden Visas” to wealthy individuals, including the United States, United Kingdom, Spain, Greece, Malta, Australia, Canada, and Italy.

Trump suggested that the federal government could sell up to 10 million Gold Cards, stating:

“It could be great, maybe it will be fantastic.”

While Congress determines citizenship qualifications, Trump asserted that Gold Cards would not require congressional approval. Further details of the programme are expected to be released in two weeks.