Trump’s gold card is designed to replace the EB-5 investor visa, which provides billions in investments to American businesses. But there are some big differences.

Trump said he will replace the "EB-5" immigrant investor visa program, which allows foreign investors of large sums of money that create or preserve U.S. jobs to become permanent residents, with a so-called "gold card.

President Trump said the cards would have “a higher level of sophistication” than green cards and cost applicants about $5 million.