New U.S. visa program aims to attract high-net-worth investors while eliminating fraud.

President Donald Trump has unveiled a new “Trump Gold Card” visa, a high-cost alternative to the existing EB-5 investor visa program, requiring a $5 million investment for a path to U.S. citizenship.

Announced from the Oval Office on Tuesday, the program aims to attract wealthy individuals who can contribute significantly to the American economy.

“They’ll be wealthy and they’ll be successful, and they’ll be spending a lot of money and paying a lot of taxes and employing a lot of people, and we think it’s going to be extremely successful,” Trump said.

Commerce Secretary Howard Lutnick confirmed that the Gold Card program will replace the EB-5 visa system, which has been in place since 1990 and currently allows foreign investors to gain residency by investing around $1 million and creating at least 10 jobs.

Lutnick argued that the new program will eliminate fraud and streamline the process by raising the financial threshold and ensuring only high-value investors are approved.

While the administration touts the program as a boost to economic growth, critics argue it favors the ultra-wealthy and raises concerns about accessibility and fairness in immigration policy.

The Gold Card visa is expected to launch within two weeks, with details still emerging on how it will impact current EB-5 applicants and future foreign investors.

Silicon Valley entrepreneur and U.S.-Vietnam relations advocate Allison Huynh joins Veronica Dudo to discuss.