26th February 2025, Kathmandu
On February 25, President Donald Trump announced a new immigration proposal aimed at attracting wealthy foreign nationals to the United States.
Trump Gold Card Proposal
The plan introduces the “Gold Card,” which would allow individuals to secure U.S. residency and citizenship by investing $5 million. The program will replace the current EB-5 Immigrant Investor Visa program.
Details of the Gold Card
President Trump explained that the Gold Card would offer more than the usual green card. “It’s going to give you green card privileges plus a route to citizenship,” he said during a press conference in the Oval Office. The card would enable wealthy foreign investors to gain permanent residency in the U.S. by purchasing it. In addition to residency, it provides an opportunity for citizenship through this investment.
Mixed Reactions to the Proposal
While the Gold Card aims to attract high-net-worth individuals, the proposal has sparked mixed reactions. Critics warn that it could create an immigration system that favors the rich, leaving out ordinary immigrants and skilled workers. Many people in countries like Nepal, where immigration to the U.S. is common but expensive, may not be able to afford the required $5 million. Some fear the proposal could limit opportunities for less wealthy individuals who seek a better life in the U.S.
Replacement of EB-5 Visa Program
The new Gold Card would replace the EB-5 visa program, which requires foreign investors to invest at least $1 million in U.S. businesses, creating jobs in the process. Commerce Secretary Howard Lutnick noted that the Gold Card would address flaws and fraud that plagued the EB-5 program. The new proposal does not include specific job creation requirements, which were a central feature of the EB-5 visa.
Economic Impact and National Debt Reduction
Trump’s administration believes the Gold Card program will benefit the U.S. economy by attracting large investments from wealthy foreign nationals. The plan could potentially raise significant revenue through the sale of Gold Cards. The administration hopes that these funds will help reduce the national debt. The sale of over a million Gold Cards is expected, which could greatly impact the financial landscape of the country.
Uncertainty and Legal Questions
While Trump has indicated that the Gold Card will be available to foreign investors—including potentially Russian oligarchs—the full details of the plan remain unclear. Trump suggested that some Russian oligarchs could qualify for the card, noting, “I know some Russian oligarchs who are very nice people.” The legal framework for implementing the Gold Card is still under development, and it remains uncertain whether the plan will require Congressional approval.
Conclusion
President Trump’s Gold Card proposal has generated considerable debate. As details are finalized, the program’s potential to reshape U.S. immigration policy will remain a topic of discussion. The Gold Card is expected to be launched within the next two weeks.