Trump Proposes $5 Million "Gold Card"

In a press briefing earlier this week, President Donald Trump proposed a new program called the "Gold Card." This initiative would grant lawful permanent residence (“green card”) and a pathway to U.S. citizenship in exchange for a $5 million investment. 

According to media reports, President Trump said the new Gold Card would be a better option than the existing EB-5 program, which allows foreign nationals to obtain permanent residence by investing at least $1.05 million and creating a minimum of 10 full-time jobs for U.S. workers (or $800,000 if the investment is in a rural area, high unemployment area or an infrastructure project).  The higher investment requirement for the Gold Card would generate more revenue for the United States compared to the “low price” EB-5 green card, which the Trump administration indicates is “full of nonsense, make-believe and fraud.” 

We will continue to monitor the situation and provide updates as soon as more information about the Gold Card and how it will impact the EB-5 program become available. 

This alert is for informational purposes. Please contact us if you would like to discuss this development further.