Breaking: EB-5 Visa, US Green Card and Trump’s Gold Card: Key routes for foreigners seeking American citizenship….See More

The EB-5 visa program, a popular route for foreigners to live, study, work, and settle in America with a US green card, is set to be discontinued soon.

The EB-5 visa program, one of the most popular routes for foreigners to live, study, work, and settle in America with a US green card before obtaining US citizenship will soon be discontinued.

President Donald Trump in a press conference in the Oval Office of the White House announced that the US government will soon launch a Gold Card. The EB-5 immigrant investor visa program will be replaced with the ‘Gold Card’ for foreigners who are willing to make an investment of $5 million into the American economy.

Similar to the EB-5 visa, the gold card is an employment-based investment-linked visa program, although the minimum qualifying limit is nearly five times that of the EB-5 visa.

Commerce Secretary Howard Lutnick, during the announcement, referred to it as the ‘Trump Gold Card’. While further details on the Trump’s Gold Card are awaited, it is expected to be launched in two weeks.

Trump’s Gold Card is intended for ultra-wealthy international investors who wish to invest in the United States to obtain American citizenship and contribute to economic growth.

When questioned if the Trump administration needed to go to Congress to launch the gold card, he responded that it is not required. According to Trump, the gold card complies with the law and does not require congressional approval because it is a green card rather than full citizenship.

Trump’s Gold Card offers green card privileges and citizenship to wealthy individuals worldwide. Trump aims to bring in ‘high-level individuals’ who can create jobs and contribute to the economy through taxes and expects companies like Apple to pay for gold cards for their top-performing employees.

Trump’s Gold Card if successful can help wipe out the $35 trillion US deficit. For example, a million cards would generate $5 trillion for the US government. And, if 10 million gold cards are issued, the total will be $50 trillion, covering the United States’ $35 trillion debt.

According to IIUSA, the EB-5 Program has provided lawful permanent status in the United States to 1,35,518 qualified investors and their families since 2020.

A Green Card officially known as a Permanent Resident Card allows foreigners to live and work permanently in the United States. The eligibility for a US green card can arise depending on family ties, employment ( holding an H-1B visa, etc,) or investments made into the US economy. Thereafter, to qualify for citizenship, green card holders in most cases must have resided continuously in the United States for five years to be eligible for U.S. citizenship.

Lawful Permanent Residents, also known as green card holders, are immigrants who have been granted lawful permanent residence in the United States but have not yet become U.S. citizens.

The EB-5 visa program is one such way to obtain a US Green Card. The EB-5 visa is a clear path for foreigners to obtain U.S. citizenship, granting them a green card, which can lead to permanent residency and citizenship. To obtain the EB-5 visa, foreigners must invest $800,000 in a Targeted Employment Area or $1,050,000 in other areas and create or maintain at least ten full-time jobs for American workers.

EB-5 visa holders can work with any employer, do business and travel abroad within six to eight months, unlike H-1B visa holders who are limited to specific employers. The EB-5 visa is a top choice for permanent residency in the United States and is particularly beneficial for those who have to wait for other types of visas.

Trump’s gold card is expected to carry similar privileges as the Green Card wrapped up with American citizenship.