The United States is introducing a new immigration initiative known as the Golden Visa program, which aims to attract affluent global investors by offering them permanent residency. The program, set to replace the existing EB-5 visa program, will require a $5 million investment from applicants seeking to live and work permanently in the United States. This strategic move, announced by President Trump, targets "high-level people" and promises to boost job creation while addressing oversight issues present in the current system.
The outgoing EB-5 visa program grants permanent residency to foreign investors who contribute approximately $1 million and create at least ten full-time jobs in the U.S. However, concerns over its execution have led to the implementation of the Golden Visa program, which President Trump describes as an improvement. Commerce Secretary Howard Lutnick echoed these sentiments, criticizing the EB-5 program for being "poorly overseen and poorly executed."
"We're going to make sure they're wonderful world-class global citizens." – Howard Lutnick
Similar to green cards, the Golden Visa will allow its holders to live and work indefinitely in the U.S. After five years of residency, these individuals may apply for citizenship. This program not only provides opportunities for wealthy individuals but also benefits American companies by enabling them to hire skilled non-citizens.
President Trump highlighted the potential economic advantages of the program, suggesting that the substantial revenue generated from these high-priced visas could help reduce national debt. In 2024 alone, the State Department issued over 12,000 EB-5 visas, indicating a strong demand for such pathways to residency.
The Golden Visa program aligns with global trends, as numerous countries offer similar citizenship-by-investment options. For instance, Portugal's golden visas grant permanent residency to foreigners investing €500,000 ($524,000) into qualifying funds. By implementing this program, the U.S. seeks to attract "wonderful world-class global citizens" and maintain its competitive edge in the global market.