US to overhaul H1B and green cards with Gold Card for $5M investors

The United States is preparing a sweeping overhaul of its immigration system, with plans to radically reshape the H1B visa program and the green-card process. A central element is a proposed “Gold Card” residency for wealthy foreign nationals who invest $5 million in the United States, a scheme officials say could bring in substantial investment and attract top talent. Commerce Secretary Howard Lutnick signaled that changes could come in the coming days, arguing that the current system has fundamental flaws and should be redirected toward prioritizing wealth and skill.

Lutnick described a decisive shift away from the existing, lottery-based H1B allocation toward a more selective, wage-based approach. He asserted that the current H1B program is “terrible” and said the administration intends to change it, as well as to reform the green-card process. He outlined the Gold Card as the mechanism to begin selecting the best entrants to the United States, arguing that it would attract highly capable individuals and thereby bolster the economy. He emphasized a sense of urgency about changing immigration rules he described as misaligned with national priorities.