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President Trump has proposed a “gold card” program offering permanent U.S. residency to wealthy foreign individuals and companies willing to pay $5 million.
Trump claims selling a million cards could generate $5 trillion toward reducing the national debt. The plan would replace or supplement the existing EB-5 program, which currently grants green cards for investments of $800,000 to $1.1 million.
Immigration experts have expressed mixed reactions – attorney Reaz Jafri reports immediate interest from clients but doubts the program will attract enough participants to meaningfully reduce the national debt. Armand Arton of Arton Capital called it a “fantastic initiative” but challenged Trump’s projection of millions of applicants, citing potential U.S. tax implications for ultra-wealthy investors. Experts also worry about the fate of thousands currently in the EB-5 application pipeline, which has successfully funded major projects like New York’s Ritz Carlton Hotel and Barclays Center by requiring each investment to generate at least 10 jobs.
