Trump Gold Card: U.S. to Launch $5 Million Gold Visa – What We Know So Far

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United States President Donald Trump on Tuesday unveiled plans for an immigration program — dubbed the “gold card” — designed to offer residency and a “path to citizenship” to investors willing to pay a steep price. The price tag? $5 million.

Set to launch in two weeks’ time, the program will be replacing the current EB-5 investor visa program, which Commerce Secretary Howard Lutnick called, “full of nonsense, make-believe and fraud.”

Trump has not yet discussed the details of the gold card program. The president said he would not be needing Congressional approval for it as it’s “a very strong path to citizenship, but we’re not doing the citizenship.”

“We’re going to be selling a gold card,” was what Trump said on Tuesday. “We’re going to be putting a price on that card of about $5 million, and that’s going to give you green card privileges, plus it will be a route to citizenship.”

The program, which aims to attract “wealthy, successful people,” signals a significant pivot in U.S. immigration policy — a move intended to secure economic benefits even as the administration doubles down on a strict stance against undocumented migrants.

What This Card Entails

Under the new proposal, affluent foreign investors could secure permanent residency by making a direct payment to the U.S. government. Lutnick emphasized that the “Trump Gold Card” would effectively replace the “ridiculous” EB-5 program, which currently allows investors to obtain green cards through business investments in the U.S.

He further noted that while the process would still involve careful vetting, the direct financial contribution would serve as a streamlined route to citizenship, potentially reducing bureaucratic delays and contributing to deficit reduction.

Trump said he looks to sell around a million of these cards generating around $5 trillion. "We'll be able to sell maybe a million of these cards, maybe more than that and if you add up the numbers they're pretty good. A million cards would be worth $5 trillion and if we sell 10 million of these cards that's a total of $50 trillion, we have $35 trillion debt," the U.S. President said at a press conference on Tuesday. 

He said that while people would be vetted very carefully, he didn’t rule out the possibility of Russian oligarchs being eligible for the gold card. “A lot of people would be able to work, provide jobs, build companies and pay taxes.”

What's the EB-5 Investor Program?

The existing EB-5 Immigrant Investor Program is a U.S. visa initiative that offers a pathway to permanent residency for eligible foreign investors.

• Applicants must typically invest $1.05 million in a new commercial enterprise — or $800,000 if the investment is made in a targeted employment area such as rural or high-unemployment zones.
• The investment must create or preserve at least 10 full-time jobs for U.S. workers, ensuring that the program contributes directly to job growth.
• The investor program aims to attract foreign capital, and support local employment.

Despite its economic benefits, the EB-5 program has faced significant criticism. Critics have raised concerns over instances of fraud and inefficiencies, with some lawmakers likening it to a “Ponzi scheme,” leading to calls for increased oversight and reform.

An AP report in 2017 had mentioned that Chinese have taken 75% of the investor visas issued by the U.S. The U.S. has taken in at least $7.7 billion and issued more than 40,000 visas to Chinese investors and their families.

Global Trends on Golden Visa

While the U.S. experiments with its “gold card,” other nations are reshaping their visa programs to attract talent and investment. The United Arab Emirates, for instance, has rolled out a suite of innovative visas — including a 10-year residency for content creators and a “blue visa” for environmental innovators. These initiatives are part of a broader strategy to build a dynamic, globally competitive economy by welcoming high-caliber professionals and investors.

This competitive global market for investment migration is also evident in regions such as Portugal, Canada, and Australia, all of which have refined their visa programs to lure millions in investments.

Global wealth advisory firm Henley & Partners reported a surge in demand for residence-by-investment programs. Between 2019 and 2024, the firm observed a 1,000% surge in its American client base, while the number of British applicants rose by 57% in the past year.

According to Henley & Partners’ 2025 Global Residence Program Index, Greece’s increasingly popular golden visa scheme now tops the list. Switzerland claimed second place, while Portugal — long a leader — was tied for third with Italy and the UK. Australia, Canada, and Spain shared fourth place, with the UAE ranking fifth.

Trump’s proposal, with its steeper entry price and promise of rapid processing, appears to be an attempt to capture a similar stream of high-net-worth investment into the U.S.