Trump Introduces Gold Visa Card for Foreign Investors at $5 Million Entry Fee

President Donald Trump has introduced a redesigned EB-5 Immigrant Investor Program, offering a "Trump Card" visa to foreign nationals who invest $5 million in the US economy. 

The announcement was made aboard Air Force One on Thursday, where Trump showcased a gold-plated card featuring his image, the Statue of Liberty, a bald eagle, nine stars, and his signature, with "5M" marked on the corners to signify the investment amount. The EB-5 program, managed by the Department of Commerce, grants Green Cards to investors who make substantial financial contributions to US commercial enterprises and create or maintain at least 10 jobs for American workers. 

“Five-million. For $5 million, this could be yours,” Trump said, holding the card up. “That was the first of the cards. You see that?”

Commerce Secretary Howard Lutnick says that approximately 250,000 individuals are awaiting the opportunity to apply for the program. Lutnick emphasizes that successful applicants will undergo thorough vetting and are expected to bring significant entrepreneurial expertise to the country. Trump says the card will be available in two weeks.

The initiative has already sparked debate, with critics questioning its exclusivity. Representative Ro Khanna (D-CA) notes that many successful American entrepreneurs, such as Sergey Brin and Satya Nadella, did not possess such substantial capital at the start of their careers. Khanna argues that financial wealth should not be the primary criterion for contributing to American innovation.

The revamped EB-5 program aims to infuse capital and entrepreneurial talent into the US economy, according to its proponents. However, concerns remain about whether it could exacerbate wealth inequality and prioritize financial resources over individual merit.