The $5 Million “Gold Card” to Obtain Lawful Permanent Residence (LPR) in the U.S.
By Hector A. Chichoni
President Trump announced Tuesday, February 26, 2025, the administration’s plan to offer $5 million “gold cards,” which will grant vetted individuals who pay $5 million, lawful permanent residence in the U.S.
Details on how the process is going to work are not known, but the President stated they have been thinking for a while about this “gold card.” Moreover, the President promised the gold card plan would be launched in “two weeks.”
Based only on President Trump’s and U.S. Commerce Secretary Howard Lutnick’s declarations, and other commentators:
The gold card program is designed to attract citizens from all over the world who after being vetted, can pay $5 million directly into the U.S. Treasury Department, and would obtain LPR status (“green card” status) in the U.S. The “gold card” is a green card with special privileges and benefits. However, all green card holders have a path to U.S. citizenship.
The gold card will be a “fast track” or “expedited processing” to obtain LPR status in the U.S.
Nothing has been said if this gold card will be available to citizens of Iran, North Korea, Libya, China, etc. However, it may be available to certain Russian citizens.
Applicants may be expected to establish businesses, pay taxes (LPRs pay taxes to the U.S. based on worldwide income), create jobs, etc. However, no specifics have been provided on whether active or passive investments will be allowed or required.
The new gold card would likely replace the EB-5 program, which was intended to stimulate the U.S. economy by issuing green cards in exchange for investments that created jobs. The total costs for an EB-5 investment include: a $800,000 principal investment ($1,050,000 in a Non-TEA Project) and an Administrative Fee (Typically 10% or $80,000). The EB-5 Immigrant Investor Program was established in 1990 and is administered by the U.S. Citizenship and Immigration Services (USCIS). According to USCIS’s website, the visa is open to investors who “make the necessary investment in a commercial enterprise in the U.S.,” as well as “plan to create or preserve 10 permanent full-time jobs for qualified U.S. workers.”
This administration seems to be frustrated over the heavy bureaucratic process and delays in getting a green card based on EB-5. Further, the EB-5 program has received persistent complaints of fraud and abuse about the program.
The program would allow corporations to “purchase,” also for $5 million, U.S. residence, commonly known as a “green card,” for high-skilled or highly educated employees, suggesting it might replace some kinds of work visas.
It is not yet clear whether the administration could terminate or change the existing program EB-5 (or any of the EB1-4 programs) without congressional approval.
The gold card seems to be an alternative, although the programs differ, to the “Golden Visa” programs around the world, which usually require the purchase of real estate or some other domestic investment.
The $5 million investment requirement under the U.S. plan would also make the gold card one of the most expensive of such programs in the world. Other countries offer citizenship for a lower investment.
Not all that shines is gold. Business commentators have expressed that paying $5 million for a gold card and having to pay taxes to the U.S. on a global income may not be such a good deal after all.
The gold card comes at a time when the European Union is putting pressure on member states to withdraw or tighten residency-by-investment programs, which can create housing price bubbles, marginal benefits to GDP, and increase the risks of tax evasion and corruption.
It is probable that the present administration may be able to implement the gold card plan and even provide for expeditious processing of LPR status for gold card applicants. Moreover, since all LPRs have a path to citizenship, gold card holders may also be able to have a path to U.S. citizenship, but U.S. citizenship cannot be expedited, unless Congress agrees and changes present rules and laws. To become U.S. citizens, individuals in LPR status are required for specific periods of time in the status and of continuous physical presence in the U.S. by law.
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