President Donald Trump announced plans for a new “gold card” visa, aimed at wealthy investors, which will cost $5 million and offer a path to citizenship.
This initiative will replace the 35-year-old EB-5 visa program, designed to attract foreign investment by requiring a $1 million investment in a business that employs at least 10 people.
Commerce Secretary Howard Lutnick emphasized that the “Trump Gold Card” would increase investment thresholds and address issues of fraud associated with the EB-5 program.
Approximately 8,000 EB-5 visas were issued in the year ending September 2022, but concerns over fraud have been noted in past reports.
WDKX Holiday Stream