WASHINGTON — The Trump administration has finally released its hotly-anticipated “gold card” allowing deep-pocketed foreigners to purchase US visas.
Trump told reporters at the White House that it would function “somewhat like a green card” letting foreigners become instantly eligible for permanent residency status to work in America.
Individuals have to pay $1 million to US Treasury coffers, while companies will have to fork over $2 million to keep employees.
Trump told reporters at the White House that it would function “somewhat like a green card.” Truth Social/@realDonaldTrumpThe Department of Homeland Security will conduct a background check on all applicants to make sure they are qualified.
After five years, any gold card-carrying permanent resident can apply for full citizenship.
“THE UNITED STATES GOVERNMENT’S TRUMP GOLD CARD IS HERE TODAY! A direct path to Citizenship for all qualified and vetted people,” the president later posted on his Truth Social, sharing a link to the website for applicants.
“SO EXCITING! Our Great American Companies can finally keep their invaluable Talent. Live Site opens in 30 minutes!”
The card purchases are revamping the backlogged and cumbersome EB-5 visa program that had awarded permanent legal status to foreigners who invest up to $1 million in US businesses.
As many as 250,000 foreigners were still waiting for their approvals as part of that program as of February this year.
Congress authorized the visa program in 1990 to place investments of differing levels based on the region of the US. Some rural areas only required around $800,000 as opposed to $1 million.
The foreign investors also had to show they could create at least 10 American jobs with the funds.
Just 135,518 EB-5 visas have been issued in its 25-year history, according to data from the Invest In the USA (IIUSA) trade association.
President Donald Trump displays a signed executive order on gold card visa in the Oval Office at the White House in Washington, DC, September 19, 2025. REUTERSTrump expects that “hundreds of billions of dollars” in revenue could result — and that top business leaders like Apple’s Tim Cook have celebrated the gold card solution.
Originally set at a a $5 million price tag, the card has also been touted by Trump and his officials as a way of balancing the federal budget with more revenue.
“There’s a line for EB-5 of 250,000 right now. 200,000 of these gold green cards [at $5 million] is $1 trillion to pay down our debt,” Commerce Secretary Howard Lutnick said in February.
The nation’s debt currently stands at more than $38 trillion.
