US Gold Card: How Donald Trump’s new residency permit differs from the Green Card

US President Donald Trump has unveiled a new residency pathway that will enable wealthy people to bypass the lengthy application process.

The Gold Card, he explained, will allow affluent foreigners — those who can afford it — to live and work in the United States.

While the Gold Card will ultimately serve the same function as the highly sought-after Green Card, which grants US residency to foreign nationals, it will require a significantly larger investment of $5 million.

How the US Gold Card differs from the Green Card

A Green Card usually grants permanent residency through employment, investment (via the EB-5 programme), or family sponsorship. But obtaining one can be a time-consuming and complex process.

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Announcing the Gold Card, President Trump said it could replace the existing investor visa programme, the EB-5. Currently, the EB-5 programme requires applicants to invest at least $1.5 million, or a reduced amount if the investment is made in a Targeted Employment Area (TEA) that supports job creation for American workers.

Gold Card: Fast-track residency for the wealthy

While introducing the new residency permit, Trump was quoted as saying by Reuters that the Gold Card grant people Green Card privileges, and it’s also going to be a route to (American) citizenship, and wealthy people will be able to buy this card.

Trump added that Gold Card applicants would still need to pass a vetting process. However, he also hinted that the scheme could attract Russian oligarchs — who are among those most affected by Western sanctions.

More details expected soon

Trump stated that further details on the Gold Card scheme are expected to be released within the next two weeks. Explaining why his administration is keen to replace the EB-5 investor visa programme, US Commerce Secretary Howard Lutnick described it as make-believe and fraud, according to Reuters.

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FAQs

1. What is the Gold Card introduced by Donald Trump?
The Gold Card is a proposed US residency permit that will allow holders to live and work in the country if they invest at least $5 million. It was announced by President Donald Trump on Tuesday.


2. How is the US Gold Card different from the Green Card?
Unlike the Green Card, which is granted through employment, investment or family sponsorship, the Gold Card will be available for purchase through a $5 million investment. The programme is expected to replace the EB-5 investor visa, which is currently part of the Green Card scheme, as per Trump's statement.