Trump Gold Card Visa Program: $1 Million Investment for US Residency to Replace EB-5 Visa

The Trump administration is advancing toward the implementation of its "Gold Card" visa program. This initiative would provide United States residency to wealthy foreign nationals who are prepared to make significant financial contributions.

The US Citizenship and Immigration Services (USCIS) has submitted a draft of Form I-140G to the Office of Management and Budget (OMB), a necessary step before launching the application system. The administration is working to achieve a December 18 rollout, subject to regulatory approval.

The Gold Card visa is designed for individuals capable of bringing a "substantial benefit" to the United States. Applicants must pay a non-refundable application fee, submit required documentation within specified timeframes, and ultimately make a $1 million contribution if their application receives approval.

According to the administration, this financial contribution demonstrates the applicant's ability to benefit the nation. Successful applicants will receive lawful permanent resident status under either the EB-1 or EB-2 categories. The visa may be revoked based on national security concerns or other significant risks.

The financial requirements include a $1 million contribution for individual applicants, $2 million for corporate-sponsored applicants, and a $15,000 non-refundable processing fee. A higher-tier Platinum Card option is also available, requiring a $5 million contribution and offering the privilege to spend up to 270 days annually in the US without paying US taxes on foreign income, though specific details about this tier remain limited.

The application process involves submitting a Gold Card request to the Department of Commerce, paying the $15,000 fee through pay.gov, and filing Form I-140G with USCIS to demonstrate the legal source of funds. Applicants must verify the legitimacy of their financial resources and complete comprehensive background checks covering criminal history, money laundering, national security risks, tax records, bank statements, and cryptocurrency holdings.

Upon approval, applicants must visit a US consulate abroad to receive their permanent-resident status. Those already in the United States may potentially adjust their status, though these regulations are still being finalized.

The Gold Card program is expected to replace the current EB-5 investor visa, which requires investment in a US business and the creation of 10 jobs. Critics have noted that the EB-5 program suffers from slow processing times and fraud concerns.

US Commerce Secretary Howard Lutnick criticized the EB-5 program, stating it is "full of nonsense, make-believe and fraud." He added, "So the President said, rather than having this sort of ridiculous EB-5 program, we're going to end the EB-5 program. We're going to replace it with the Trump Gold Card, which is really a Green Card Gold," according to Reuters.

The Gold Card program is not yet operational. Both USCIS and the Commerce Department will issue additional instructions in the coming weeks. Form I-140G remains under OMB review and may undergo revisions.