The US introduces a $5 million "Gold Card" visa — a new path to citizenship

US authorities have announced a major change in immigration policy. President Donald Trump has unveiled a new programme — the "Gold Card" visa, which for $5 million will let wealthy foreign nationals obtain permanent resident status, with a subsequent path to naturalisation. As the president noted during an Oval Office briefing, the initiative is aimed at attracting major investors capable of making a significant contribution to the country's economy.

Replacing the EB-5 visa programme

The new programme is intended to replace the existing EB-5 scheme, which required an investment of at least $1.05 million (or $800,000 in areas with special economic conditions) and the creation of at least ten jobs for Americans. If you're interested in other ways to obtain a visa, see the full list of US visa types.

US Commerce Secretary Howard Lutnick sharply criticised the EB-5 programme, calling it "ineffective and prone to abuse." According to him, the mechanism had in the past been used as an easy way to obtain a green card.

Unlike the EB-5, the "Gold Card" does not require applicants to create jobs. The main requirement is confirming financial standing and passing thorough vetting to meet the standards expected of trustworthy investors.

An opportunity for millionaires, or a loophole for the elite?

The administration expects the programme to attract wealthy individuals who, through tax contributions and investment, will help drive US economic growth. President Trump expressed confidence in its success, stressing that the initiative could bring in billions of dollars for the budget. "We could sell a million of these cards, maybe more," he said, commenting on the programme's prospects.

However, critics have raised concerns that the new scheme effectively ties citizenship to income level, and could be used by foreign elites to bypass traditional immigration procedures.

There are also questions about the transparency of the vetting system and possible national security risks.

Programme set to launch within weeks

The "Gold Card" programme is expected to launch within two weeks. Official guidance and application terms will be published shortly.

This reform is part of broader changes to US immigration policy aimed at attracting private capital to help address the country's economic challenges. Only time will tell how successfully the new scheme fits into the existing system.