President Donald Trump revealed a groundbreaking immigration initiative that would offer citizenship opportunities to affluent foreign investors.
According to Fox News, the proposed "gold card" visa program would require wealthy immigrants to pay $5 million for a path to U.S. citizenship, a move experts believe could significantly benefit the American economy.
The plan, announced by Trump from the Oval Office on Tuesday, aims to replace the existing EB-5 Immigrant Investor visa program within two weeks. Commerce Secretary Howard Lutnick confirmed the transition timeline for the new initiative, which would supersede the current program that offers residency to individuals who invest approximately $1 million in businesses while creating at least 10 jobs.
Trump emphasized the program's potential to attract successful entrepreneurs and generate substantial tax revenue. The initiative would also allow companies to utilize gold cards for recruitment purposes, creating additional economic opportunities.
The proposed program distinguishes itself from similar initiatives worldwide. While nearly 40 countries operate "citizenship by investment" programs, as reported by law firm Henley & Partners, the U.S. version would command the highest investment requirement.
Anthony Esposito, founder and CEO of Island Capital Investments, projects that recruiting one million gold card recipients could generate $5 trillion for the U.S. Treasury. He shared Trump's view on the program's potential impact:
What you're doing is you're bringing in wealthier individuals, clearly job creators, consumers. A million individuals coming in would be $5 trillion in payment to the government, off the bat, that doesn't include the derivative growth of those individuals being here.
The administration emphasizes strict vetting procedures to address potential security concerns. This approach contrasts sharply with current immigration policies, according to experts familiar with the proposal.
Esposito highlighted the difference between the proposed program and existing immigration practices. He stressed that the gold card system would implement thorough personal and economic background checks for all applicants.
The initiative has garnered attention for its potential to stimulate job creation and consumer spending. Economic analysts suggest the program could generate significant derivative benefits beyond the initial investment requirements.
The White House plans to launch the program within the next two weeks, marking a significant shift in U.S. immigration policy. The transition will phase out the existing EB-5 program, which has been in place since 1990.
Trump highlighted the program's dual benefits of attracting successful entrepreneurs while addressing national debt concerns. The administration views the initiative as a strategic approach to immigration that aligns with economic objectives.
Esposito emphasized the mutual advantages of the program, stating:
It is the greatest nation in the world. It is the greatest economy in the world. This is just simply a way of vetting people and having people come in that will create a mutually beneficial relationship between the United States, and the United States economy, and those gold card holders.
The Trump administration has unveiled an ambitious visa program targeting wealthy immigrants willing to invest $5 million for U.S. citizenship opportunities. The initiative, set to replace the existing EB-5 program within two weeks, aims to generate substantial revenue for the U.S. Treasury while attracting job creators and entrepreneurs. The program's strict vetting procedures and high investment requirements position it as the most expensive citizenship by investment option globally, with experts projecting potential economic benefits, including job growth, increased tax revenue, and consumer spending.
