The Trump administration has launched one of the world’s most expensive immigration programs, offering permanent U.S. residency to wealthy foreigners in exchange for a \$5 million payment. Known as the “Trump Gold Card”, the program was officially announced earlier this year and is now live at trumpcard.gov, where interested applicants can join the waitlist.
Unlike traditional visa pathways that focus on employment, skills, or family ties, the Trump Gold Card is designed exclusively for the ultra-wealthy, making financial contribution the primary requirement for a green card-equivalent status.
White House Announcement and Policy Rationale
The initiative was unveiled on February 25, 2025, with Commerce Secretary Howard Lutnick describing it as a replacement for the EB-5 investor visa. President Trump framed the Gold Card as a strategic move to attract high-net-worth individuals who can contribute significantly to the U.S. economy.
“They’ll be wealthy, 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,” said Mr. Trump during the Oval Office announcement.
What Makes the Trump Gold Card Different?
The Gold Card aims to simplify immigration for the global elite by removing red tape and traditional requirements. Key highlights of the program include:
- Immediate Permanent Residency: Applicants receive instant green card status with no waitlists or quotas.
- No Job Creation Mandate: Unlike the EB-5 visa, there is no requirement to create jobs or operate a business in the U.S.
- Tax Exemptions: Gold Card holders are exempt from paying U.S. taxes on foreign income, making it an attractive offer for global investors.
- Unlimited Annual Visas: There is no cap on the number of Gold Cards available, potentially allowing over 1 million annual issuances.
Comparison: Trump Gold Card vs. EB-5 Visa
| Feature | Trump Gold Card | EB-5 Visa |
|---|---|---|
| Investment Requirement | \$5,000,000 (direct to U.S. govt) | \$800,000–\$1,050,000 (business) |
| Job Creation | Not required | Minimum 10 U.S. jobs |
| Processing Time | Expedited | 2–5 years |
| Visa Cap | Unlimited | 10,000 per year |
| Tax Benefits | Foreign income tax-exempt | Full tax liability |
The lack of a job creation clause and the direct payment to the U.S. government distinguish the Gold Card from all existing visa options.
Bold Revenue Targets and Economic Projections
Trump has publicly estimated that the U.S. could sell up to 1 million Gold Cards, raising \$5 trillion in revenue. The funds, he said, would be used to reduce the budget deficit and help pay off the \$36.2 trillion national debt.
While the administration touts these bold figures, immigration analysts are skeptical, predicting a few thousand applications at most, given the high cost and lack of return on investment.
Global Reaction and Investor Interest
Law firms and immigration consultants report a surge in inquiries from clients seeking information about the Gold Card. However, interest tends to wane after understanding the terms.
“You’re gifting the U.S. government \$5 million. That’s all you’re doing,” said attorney Michael Silver. “And once I explain that to them, they’re out.”
Despite initial buzz, many ultra-wealthy clients prefer visas that offer returns via real estate or business investment, unlike the Gold Card, which offers no direct ROI.
Legal and Legislative Uncertainty
Critics argue that creating a brand-new immigration class without Congress may be legally questionable. Immigration laws are typically shaped by Congressional legislation, not unilateral executive orders.
President Trump insists the program is fully legal, citing executive authority. However, several Republican senators have raised concerns, suggesting court challenges are likely.
International Context: The Golden Visa Landscape
At \$5 million, the Trump Gold Card is officially the world’s most expensive investor visa, surpassing similar programs in:
- Malta (terminated)
- Portugal (restricted)
- Spain (ended due to housing inflation)
- United Kingdom (ended due to security concerns)
- New Zealand, Cyprus, and Ireland (discontinued)
Many of these countries ended their programs amid EU regulatory pressure, money laundering risks, and economic inequality concerns.
Program Launch and Online Registration
Commerce Secretary Howard Lutnick confirmed that the Trump Gold Card registration site went live on June 12, 2025. The website — trumpcard.gov — currently allows interested parties to join a waitlist.
“The portal is live, and full program details will be rolled out in the coming weeks,” Lutnick told Axios.
Applicants will eventually be guided through security screening, fund transfers, and residency activation.
Expert Opinions and Market Skepticism
Though the Trump administration pitches the Gold Card as a revolutionary revenue stream, most immigration experts predict modest uptake.
Critics warn that the program:
- May invite legal challenges
- Lacks parliamentary backing
- Could strain public perception of immigration fairness
- May attract scrutiny from watchdog organizations
Nonetheless, if implemented successfully, the Gold Card could become a blueprint for future immigration reform driven by revenue generation.
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Looking Ahead: High Stakes, High Risk
The Trump Gold Card represents a bold and controversial experiment in immigration and economic policy. With a \$5 million price tag, no business obligations, and fast-track residency, it’s a visa option that may appeal only to a niche elite.
Whether this approach becomes a game-changer or a short-lived gimmick remains to be seen. For now, all eyes are on trumpcard.gov and the administration’s next move.
