Donald Trump is back with another new rule. In his latest decision, he announced the Trump Gold Card to revolutionize the concepts of immigration. It has replaced the EB-5 Immigrant Investor Visa Program with a new scheme known as the Trump Gold Card. The scheme would enable wealthy foreigners to purchase a fast ticket to U.S. citizenship for a steep fee of $5 million. The move has sparked debate about immigration policy, its economic impact, and the morality of selling American residency and citizenship.
The Trump Gold Card: An Expensive Bargain to Citizenship
Donald Trump unveiled his dream of the Trump Gold Card as a revolution for the rich looking to migrate to the United States. This scheme, in his view, was capable of selling one million cards and raking in a colossal amount of funds for the United States government.
Unlike the current EB-5 Immigrant Investor Program, in which investors have to invest in companies that create or preserve jobs, the Trump Gold Card would be a straightforward U.S. residency purchase free of the classic requirements of economic contribution.
“We’re going to be selling a gold card. We’re going to be putting a price on that card of about $5 million,” Trump announced during a press conference.
The former president also said that the program would be useful in reducing the U.S. national debt. While details on what the funds would be used for are still yet to be decided, Trump said that the influx of rich immigrants could bring huge economic benefits.
Comparing the Trump Gold Card and the EB-5 Visa Program
The EB-5 Program: What It Provided
The 1990 EB-5 Immigrant Investor Program was created to kick-start the American economy by compelling foreign investors to invest in American businesses. The incentive was a green card—a legal permanent resident status that would, ultimately, translate into citizenship.
There were certain conditions that the EB-5 program had:
An investment of $800,000 to $1.8 million in American companies.
The investment has to lead to the creation or preservation of 10 jobs for U.S. workers.
Stringent screening procedures to guarantee that money was raised legally.
In the years since its inception, the EB-5 program has been attacked for fraud, mismanagement, and loopholes permitting investors to take advantage of legal gray areas. Projects have failed, and investors have lost their visas or money.
How the Trump Gold Card is Different
The Trump Gold Card would eliminate the requirement for job and investment creation and become a quick pay-to-stay option. Foreigners could shell out $5 million and obtain a green card and a pathway to citizenship without the need to invest in businesses or create employment opportunities.
Its detractors view it as making American citizenship available for purchase for the wealthy, but its supporters view it as a practical economic strategy to admit high-net-worth individuals to the country.
Global Reactions: A Mixed Response
United States
The American action has created a furor. Immigration groups and politicians across the nation oppose the action, terming it an immoral attempt to sell American citizenship. They condemn the policy as benefiting the super-rich at the expense of making it more difficult for deserving professionals and refugees to settle legally.
On the contrary, other financial analysts and CEOs think that the program would be able to welcome billionaires across the globe to make investments and put capital into the US economy, stimulating real estate, luxury department stores, and high-end industry.
United Kingdom and Europe
Throughout Europe and the UK, the responses have been measured. Several European countries, such as Greece and Portugal, already have golden visa schemes through which they grant residency upon significant investment. These are property purchases or financial investments and not the direct purchase of citizenship.
The UK shut down its own “Golden Visa” scheme in 2022 due to concerns that it was being exploited by Russian oligarchs and other super-rich individuals to clean dirty cash. Whitehall officials are closely following Trump’s proposal to ascertain its significance for global immigration policies.
Middle East and Asia
For Middle Eastern and Asian high-net-worth individuals, the Trump Gold Card might be a tempting prospect. The bulk of high-net-worth individuals from the Gulf states, China, and India pursue U.S. residency in pursuit of business development, tax advantages, and improved lifestyles.
Australia and Canada
Australia and Canada both have structured but strict immigration plans that are biased toward skilled workers and investors who create jobs. Specialists for these nations state that the sale of direct citizenship tarnishes the dignity of the immigration systems through the establishment of a dangerous precedent.
Security and Ethics Issues
One of the most scandalous aspects of the Trump Gold Card is how it can be potentially abused by financially dubious individuals.
In response to whether Russian oligarchs would be included, Trump had the following to say, “Yeah, maybe. Hey, I know some nice Russian oligarchs.”
The remark has raised fears that the program would be exploited as a money-laundering loophole or foreign interference in U.S. politics. The experts point out that if not subjected to rigorous screening, the policy would be pursued by crooks who would get refuge in the United States.
Ethical issues have also been raised. Is citizenship—a right that confers entitlements, privileges, and responsibilities—something to be commodified like a luxury item? Most critics answer that American values cannot be put up for sale to the highest bidder.
What’s Next? Waiting for More Details
While Trump has made his public declaration, few of the important details are yet known. The former president has indicated that he will provide further details in the weeks ahead, answering questions about:
How the program money will be spent.
Security to ensure it is not misused.
Background checks and eligibility requirements.
So far, the Trump Gold Card is a proposal that is groundbreaking but also contentious, attracting attention and criticism worldwide.
Conclusion: Is It a New Era of Immigration or a Gambler’s Gamble?
Trump Gold Card represents a revolutionary move in U.S. immigration policy, where being a resident and citizen is a commodity that can be bought and not an economic factor or merit acquisition.
Its supporters contend that it can be a viable means of raising funds while luring billionaires who stimulate the economy. Will the Trump Gold Card be a game-changer or a warning shot? Only time will tell.
