President Donald Trump has announced the introduction of a new “gold card” visa program, offering wealthy foreign nationals the opportunity to obtain U.S. residency and a path to citizenship through a $5 million investment. This initiative aims to replace the existing EB-5 Immigrant Investor Program, which required a $1 million investment and job creation.

The “gold card” visa is designed to attract affluent individuals who can contribute economically by investing, spending, and creating jobs in the United States. Commerce Secretary Howard Lutnick emphasized that applicants will undergo a thorough vetting process to ensure they are high-quality global citizens.

Critics have raised concerns about potential security risks, corruption, and tax evasion associated with investment-based residency programs. Additionally, the program’s focus on attracting wealthy individuals has sparked debates about fairness and the implications for the broader immigration system.

The “gold card” visa program is set to begin in approximately two weeks, with the administration anticipating the sale of over a million cards. While the initiative aims to generate substantial revenue and reduce the national deficit, it also faces scrutiny over its potential impact on national security and the integrity of the immigration process.