Gold Card : The Trump administration has launched one of the world’s most expensive immigration programs, offering wealthy foreign nationals a direct path to U.S. permanent residency for $5 million through the newly unveiled “Trump Gold Card” visa program. On June 12, 2025, a government-backed website — https://trumpcard.gov — went live, inviting foreign nationals to join the waitlist.
Revolutionary Immigration Program Targets Ultra-Wealthy
The Gold Card announcement came from the Oval Office on February 25, 2025, with Commerce Secretary Howard Lutnick specifically referring to it as the “Trump Gold Card.” This unprecedented initiative represents a dramatic shift from traditional immigration pathways that focus on employment skills or family connections, instead prioritizing pure wealth as the primary qualification criterion.
“It’s going to be a route to citizenship, and wealthy people will be coming into our country by buying this card, 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,” Mr. Trump said on Feb. 25
Key Features of the Gold Card Program
The Trump Gold Card offers several advantages over traditional green cards:
Premium Residency Status: Calling the Gold Card a “green card plus,” Trump suggested it would offer more benefits than standard permanent residency. This includes immediate permanent resident status without the typical waiting periods associated with other visa categories.
Tax Benefits: Unlike American citizens, Gold Card holders are exempt from paying U.S. taxes on their overseas income. This provision makes the program particularly attractive to wealthy international investors with global income streams.
Fast-Track Processing: The program promises expedited processing compared to traditional immigration pathways, which can take years to complete.
Replacing the EB-5 Program: A Major Policy Shift
Lutnick said the gold cards would be available starting in about two weeks. The Gold Card is designed to replace the existing EB-5 investor visa program, which has operated since 1990. Lutnick described the EB-5 program as “full of nonsense, make believe and fraud.”
Comparison: Gold Card vs. EB-5 Program
| Feature | Trump Gold Card | EB-5 Program |
|---|---|---|
| Investment Amount | $5,000,000 | $800,000 – $1,050,000 |
| Job Creation Requirement | None | 10 U.S. jobs minimum |
| Processing Time | Expedited (exact timeframe TBD) | 2-5 years typical |
| Annual Visa Cap | Unlimited (projected 1 million) | 10,000 visas annually |
| Additional Fees | TBD | $100,000 – $200,000 |
| Investment Type | Direct government payment | Business investment |
The new scheme removes any direct job-creation requirement; instead, candidates simply contribute $5 million to government coffers (after security vetting) for the privilege of residency.
Economic Impact and Revenue Projections
The Trump administration has set ambitious revenue targets for the Gold Card program. Trump suggested that the the U.S. could “sell maybe a million of these cards, maybe more than that.” At $5 million each, selling 1 million gold cards could raise $5 trillion, he said.
Trump has said the proceeds of the Gold Card would go to help pay down the budget deficit, and possibly even chip away at the massive $36.2 trillion national debt. However, immigration experts view these projections as overly optimistic, expecting actual sales to number in the low thousands rather than millions.
Market Response and Interest
Lawyers’ phones are ringing with wealthy foreigners wanting to know more about how to score a “Gold Card” – a glorified green card that would allow them to live and work in the U.S. without the usual hassle or red tape. However, some attorneys report that interest diminishes once potential applicants understand the program’s structure.
“I had to explain to them, ‘you’re gifting the U.S. government $5 million. That’s all you’re doing.'” says Silver. “And once I explain that to them, they’re out.”
Legal Challenges and Congressional Approval Questions
Immigration law experts have raised questions about the legality of creating such a visa without congressional approval. Introducing a brand-new immigration pathway typically requires legislation passed by Congress. The administration maintains the program can be implemented through executive authority.
“We have it all worked out from the legal standpoint. It’s totally legal to do,” Mr. Trump said. However, even some Republican senators argue that granting green cards outside of established immigration quotas would likely require an act of Congress.
Global Context: International Golden Visa Programs
About $5m per application. This would make it “the most expensive golden visa option in the world,” according to Kristin Surak, associate professor of political sociology at the London School of Economics.
Similar programs offering residency or citizenship in exchange for investments have been tried in multiple other countries, including Malta, Greece, Portugal, New Zealand, the United Arab Emirates. Many of those countries have faced challenges and a number have recently ended their programs.
International Program Failures
Several countries have terminated their golden visa programs due to various issues:
- Malta: Program shut down for violating EU law
- Spain: Terminated due to housing price inflation concerns
- United Kingdom: Ended in 2022 over national security and money laundering issues
- Cyprus, Ireland, Bulgaria: Similar concerns led to program termination
Implementation Timeline and Portal Launch
U.S. Commerce Secretary Howard Lutnick said Wednesday that the Trump Gold Card, which makes it possible for any foreigner to buy a visa for $5 million, will be available online within weeks. The registration website at trumpcard.gov initially allows interested parties to join a waitlist, with full program details expected to be released in the coming weeks.
Lutnick told Axios’ Mike Allen that the website, trumpcard.gov, will first allow users to register their interest in purchasing a card. “All that will come over a matter of the next weeks — not month, weeks,” Lutnick said.
Frequently Asked Questions (FAQs)
Q: Who is eligible for the Trump Gold Card? A: Any foreign national who can pay the $5 million fee and passes security vetting requirements.
Q: Does the Gold Card lead to citizenship? A: Yes, it provides a path to citizenship, though specific timelines haven’t been detailed.
Q: Do I need to create jobs like the EB-5 program? A: No, the Gold Card has no job creation requirements.
A Bold Immigration Experiment
The Trump Gold Card represents an unprecedented experiment in wealth-based immigration policy. While supporters argue it could attract valuable investors and help reduce national debt, critics worry about creating a two-tiered immigration system that explicitly favors the ultra-wealthy. The program’s success will ultimately depend on actual demand from qualified applicants and its ability to navigate potential legal challenges.
As the program launches, it will be closely watched both domestically and internationally as a test case for whether direct-payment immigration programs can succeed in the modern era without the traditional requirements of job creation or business investment.
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