U.S. Introduces $5M "Gold Card" Visa—Will Australia Follow Suit?

In a significant shift in business migration policy, U.S. President Donald Trump has announced the "Gold Card" visa, a new initiative allowing wealthy individuals to obtain U.S. residency—and eventually citizenship—in exchange for a $5 million investment. Revealed in February 2025, this program aims to replace the EB-5 visa by removing job creation requirements and focusing purely on capital influx, with the broader goal of addressing national debt concerns.

Meanwhile, Australia has taken a starkly different approach. In July 2024, the federal government permanently closed the Business Innovation and Investment Program (BIIP), ending a long-standing pathway for investor migrants. This move reflected a broader policy shift towards prioritizing genuine entrepreneurship and innovation over passive investment, with the government arguing that the BIIP had not delivered the economic benefits initially envisioned.

With the U.S. now actively courting high-net-worth individuals through financial incentives, will Australia reconsider its restrictive stance? The contrast between these two approaches raises critical questions about Australia's ability to attract and retain global business talent and investment. While the Australian government has emphasized the need for an economy driven by innovation, some experts argue that shutting the door on investor visas entirely could limit the nation’s ability to tap into global capital.

Could Australia introduce a new high-investment visa, similar to the "Gold Card," but with safeguards to ensure meaningful economic contributions? Or will it remain steadfast in its focus on active entrepreneurship, even as other nations pivot towards capital-driven migration strategies?

Striking the right balance will be essential as Australia navigates its place in the evolving landscape of global business migration. The challenge lies in creating a framework that attracts investment while fostering long-term economic growth, ensuring that Australia remains a competitive destination for international entrepreneurs and investors.