USCIS is moving forward with the Gold Card visa, a pathway allowing immigrants to donate $1 million for permanent residency, effectively replacing the criticized EB-5 program. Critics warn this “pay-to-play” system favors the ultra-wealthy.
Pennies for citizenship: the $1 million residency debate
So, this thing is happening: the Trump administration pushed this idea, and now the process is actually moving forward at USCIS. They call it the “Gold Card” visa.
It’s basically a green card status. But here’s the kicker: you don’t invest in a business. You just donate $1 million to the U.S. Treasury.
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The official draft form for this whole program—that’s already under federal review, according to Fragomen. That happened. And then the massive controversy followed.
Replacing the ‘nonsense’ of eb-5
What draws people there? Well, the new Gold Card is meant to torch the existing EB-5 visa.
Let’s be real, the EB-5 program—where foreign investors pump cash into a U.S. business to create jobs—it’s been called “full of nonsense, make-believe and fraud” by Howard Lutnick, the Commerce Secretary. That quote is straight from him.
So, the President said, “End the ridiculous EB-5 program.” And then the Trump Gold Card was put forward as the replacement. It’s a clean break.
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Initially, the price tag was steep, like $5 million. That was the idea. And then it got slashed—down to $1 million for individuals, or $2 million for corporate-sponsored bids. That drop happened. And then this insane surge of global high-net-worth individuals started showing interest, seeking U.S. residency, the education, access to financial markets.
How the cash-for-residency process works
The Gold Card agenda is simple: a $1 million contribution to the U.S. Treasury, or $2 million for a corporation. And tack on a non-refundable $15,000 application fee.
The law firm Fragomen is outlining the process, keeping that field-notes tone:
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First Move: Send a Gold Card request to the Department of Commerce.
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The Payment: You pay the $15,000 application fee through
pay.gov. -
Final File: File the Form I-140G with USCIS. This is where you declare the source of the donated funds. They vet it, making sure the money is legit, of lawful origin.
Once you’re approved, you still have to go through consular processing overseas before you get admitted as a lawful permanent resident. They haven’t quite figured out how status adjustment works for those already here, but it’s expected to be permitted.
Lutnick says Gold Card holders will be classified under EB-1 or EB-2 visa categories. That depends on how USCIS decides to assess each case. There’s no tidy wrap-up on that front.
And here’s the kicker: they’re already pitching a “Platinum Card”—a $5 million contribution for even more access, like 270 days a year in the U.S. with favorable tax treatment on non-U.S. income
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The backlash: selling access?
But critics are not for this at all. It’s being called “turning access to the U.S. into a commodity.” The Washington Post reported that phrase.
Immigration lawyers are saying this just favors wealth over merit, or nothing. Becky Fu von Trapp, a managing attorney, says “The gold card just attempts to treat a financial gift as equivalent proof.” She worries this will actually “crowd out skilled professionals” who are already in the traditional visa queues. It’s a “pay-to-play residency,” according to Kate Hooper at the Migration Policy Institute. The controversy is definitely ongoing.
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