Plan Targets Wealthy Investors, Aims to Replace EB-5 Program and Boost Economy

February 26, 2025 – Washington, D.C. President Donald Trump announced a bold new immigration initiative today, unveiling plans for a $5 million “gold card” that would offer wealthy foreigners a direct route to U.S. citizenship. The proposal, revealed during a press briefing in the Oval Office, is positioned as a replacement for the existing EB-5 immigrant investor visa program, which currently grants residency to those investing between $800,000 and $1.8 million in job-creating projects. Trump touted the initiative as a way to attract “successful, high-level individuals” while generating significant revenue for the U.S. economy.

“We’re going to sell these gold cards for $5 million each,” Trump said, flanked by Commerce Secretary Howard Lutnick. “It’s like a green card, but better—a gold card. It’ll give you permanent residency privileges and a clear path to citizenship. Wealthy people will come pouring in, and it’s going to be a huge success.” He added that the program could launch within two weeks, claiming it would not require congressional approval—a point likely to spark legal debate.

The “Trump gold card,” as it’s being called, marks a stark departure from the EB-5 program’s focus on job creation. Unlike its predecessor, the new initiative does not appear to mandate specific economic contributions beyond the $5 million fee, though Trump suggested the funds could help pay down the national debt, currently hovering at $36 trillion. “Imagine a million of these sold—that’s $5 trillion right there,” he said. “It’ll sell like crazy.”

Lutnick echoed the president’s enthusiasm, arguing that the gold card would eliminate “fraud and nonsense” he associates with the EB-5 program while raising the bar for entry. “This is about bringing in the best, the richest, the most successful,” he said. “It’s a premium product for a premium country.”

The announcement comes amid Trump’s broader immigration agenda, which includes a promised crackdown on undocumented migrants and efforts to end birthright citizenship. Critics were quick to highlight the contrast, with some accusing the administration of favoring the ultra-wealthy while targeting less affluent immigrants for deportation. “This is citizenship for sale, plain and simple,” said immigration advocate Maria Stein. “It’s a golden ticket for oligarchs while millions face exile.”

Supporters, however, see the plan as an economic boom. Economist John Esposito told reporters that if successful, the program could inject trillions into the U.S. treasury, potentially offsetting fiscal challenges. “It’s a creative way to leverage global wealth,” he said. “The question is execution.”

Details remain sparse, with Trump promising more information in the coming weeks. Legal experts, meanwhile, question whether the administration can bypass Congress, which traditionally sets citizenship qualifications. For now, the “gold card” stands as a provocative symbol of Trump’s unconventional approach to immigration—one that’s already igniting fierce debate across the nation.