US President Donald Trump has announced a new immigration initiative, introducing a redesigned “gold card” program targeting wealthy investors seeking American residency. The initiative, which overhauls the existing EB-5 investor visa program, offers a $5 million pathway for foreign nationals to gain US residency and additional benefits, including exemption from paying US tax on foreign income.
The metallic card, emblazoned with Trump’s own image, was revealed aboard Air Force One amidst global market instability following Trump’s sweeping tariff plan. Commerce Secretary Howard Lutnick confirmed the program’s success, with 1,000 cards sold in just one week, raising $5 billion in a single day. The new initiative promises to replace the long-backlogged EB-5 program, allowing foreigners to “buy in” to US residency under tighter immigration controls.
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Trump compared the US economy to a “sick patient” undergoing surgery, claiming the influx of funds from the gold card program would lead to a booming economy. Despite the announcement’s timing amid steep stock market losses, Trump remained optimistic, citing trillions of dollars in committed investments.
The $5 million fee is directed to the US government, and applicants will undergo vetting to ensure they meet the criteria as “world-class, global citizens.” The funds raised will be used to reduce the federal deficit, according to Lutnick.
