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Gold Card proposed for foreign investors
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These changes signal a new direction in U.S. immigration policy, emphasizing merit and investment, with the dual aim of attracting top talent and substantial foreign capital
The United States is set to implement significant reforms to its immigration system, focusing on the green card and H-1B visa programs, according to Commerce Secretary Howard Lutnick.
In recent remarks, Lutnick described the current H-1B regime as “terrible” and confirmed his active participation in reshaping the program. “We’re going to change that program,” he stated, indicating a major policy shift under the Trump administration.
The existing H-1B visa process, which annually allocates 85,000 visas through a lottery system, is now under review. In a move to encourage higher wages and skilled professionals, regulations adopted by the White House suggest prioritizing H-1B applications based on salary levels, thereby phasing out the randomness of the current selection process.
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The proposed reforms could significantly impact professionals and investors worldwide, particularly those from countries with high demand for U.S. residency and work opportunities.
Secretary Lutnick also highlighted concerns regarding the green card program. He noted that the average green card recipient earns less than the average American, prompting considerations to raise the standard for residency qualifications. To address these issues, the administration is proposing a new ‘gold card’ scheme.
Understanding the Proposed Gold Card:
Under the proposed initiative, foreign nationals investing $5 million in the United States would be eligible for permanent residency—a ‘gold card’. Lutnick asserted that the program has already attracted strong interest, reporting that 250,000 individuals are in line to apply. The administration forecasts that the program could generate $1.25 trillion in revenue for the country.
Additionally, the White House’s Office of Information and Regulatory Affairs recently approved a draft regulation to overhaul the H-1B system. Going forward, visa allocation will prioritize positions offering higher wages, split into four categories, aligning with recommendations made by the Department of Homeland Security in 2021.
