Trump to Abolish EB-5 Visa and Launch Immigration "Gold Card" for Sale at USD 5 Mn

On February 25 local time, U.S. President Trump announced his plan to launch a brand-new immigration visa program, the "Gold Card," priced at USD 5 million (CNY 36 billion), to provide a pathway to citizenship for investors, replacing the 35-year-old EB-5 visa program. The program is said to launch in about two weeks without the need for congressional approval.

According to public information, this plan intends to allow foreign investors to directly obtain permanent residency in the U. S. (Green Card) by making a one-time payment of USD 5 million (or meeting conditions through property purchases, etc.). Its core features are "streamlined processes" and "high thresholds." This plan is seen as aiming to attract direct investments from high-net-worth individuals, but specific implementation details have not yet been announced.

U.S. Secretary of Commerce Wilbur Ross stated that applicants for the "Gold Card" program must pay directly to the U.S. government, which can then use this money to reduce the deficit.

The EB-5 visa was created by the U.S. Congress in 1990, with the current policy requiring an investment of USD 800,000 (CNY 5,814,560, in Targeted Employment Areasor, TEAs) or USD 1.05 million (CNY 7.63 million, in non-TEAs) and the creation of 10 jobs. Trump believes that replacing the EB-5 with the "Gold Card" aligns with the concept of "elite immigration," eliminating middle-class applicants.