Key Takeaways
• Gold Card program offers U.S. residency for $5 million, replacing the EB-5 investor visa.
• Up to 1 million cards could generate $5 trillion to reduce national debt.
• No investment or job creation required; applicants undergo background and security checks.
Executive Summary
The Trump Administration is preparing to launch the “Gold Card” program, a new immigration policy designed to allow wealthy foreigners to obtain U.S. permanent residency for a fee of $5 million. This initiative, set to go live through the official website trumpcard.gov, marks a significant shift in how the United States 🇺🇸 approaches high-net-worth immigration. The Gold Card is positioned as a replacement for the existing EB-5 Immigrant Investor Program, aiming to streamline the process and generate substantial revenue to reduce the national debt. This policy brief examines the background, structure, and implications of the Gold Card program, analyzes its potential impact, and offers evidence-based recommendations for policymakers and stakeholders.
Introduction
The United States 🇺🇸 has a long history of using immigration policy to attract talent, investment, and innovation. Over the past several decades, programs like the EB-5 Immigrant Investor Program have allowed foreign nationals to secure permanent residency by investing in American businesses and creating jobs. However, the Trump Administration has criticized the EB-5 program for its complexity and vulnerability to fraud, proposing the Gold Card as a more straightforward alternative.
The Gold Card program, set to launch imminently, represents a major development in U.S. immigration policy. By offering a direct path to permanent residency—and eventually citizenship—for a set fee, the administration aims to attract wealthy individuals who can contribute to the U.S. economy and help pay down the national debt. According to analysis by VisaVerge.com, this approach reflects a broader global trend toward “golden visa” programs, though such initiatives have seen mixed results in other countries.
Background
The EB-5 Immigrant Investor Program
Since 1990, the EB-5 program has allowed foreign investors to obtain U.S. green cards by investing at least $800,000 (in targeted employment areas) or $1,050,000 (in other areas) in new commercial enterprises and creating or preserving at least 10 full-time jobs for U.S. workers. While the program has brought billions in investment and supported job creation, it has also faced criticism for:
- Complex application requirements
- Lengthy processing times
– Allegations of fraud and abuse - Uncertainty about economic impact
For more information on the EB-5 program, readers can visit the USCIS EB-5 Immigrant Investor Program page.
The Gold Card Proposal
President Trump first introduced the Gold Card concept in February 2025, describing it as “somewhat like a green card, but at a higher level of sophistication.” The program is designed to:
- Replace the EB-5 program with a simpler, more transparent process
- Attract wealthy individuals willing to pay $5 million for permanent residency
- Generate significant revenue to help reduce the national debt
Commerce Secretary Howard Lutnick has played a key role in developing and promoting the program, emphasizing its potential to bring in both direct funds and broader economic benefits.
Analysis
Program Structure and Implementation
The Gold Card program will be administered through the newly registered website trumpcard.gov, which is expected to launch within days. The site will initially allow interested applicants to register their interest, with more detailed information and application procedures to follow.
Key Features:
- Cost: $5 million per applicant
- Benefits: Permanent U.S. residency (“green card privileges-plus”) and a pathway to citizenship
- No business investment or job creation requirements: Unlike the EB-5, applicants are not required to invest in specific projects or create jobs
- Vetting process: All applicants will undergo background checks and security screening
- Integration with existing systems: The program will connect with Customs and Border Protection (CBP), the State Department, and U.S. Citizenship and Immigration Services (USCIS) systems
Target Audience
The Gold Card is aimed at high-net-worth individuals who seek a secure “Plan B” in case of instability in their home countries. Lutnick described potential applicants as “outstanding individuals who will introduce businesses and opportunities to America.” The program is also being marketed as a way for these individuals to contribute to the U.S. economy through spending, taxes, and job creation, even without formal requirements.
Economic Projections
The Trump Administration has set ambitious financial targets for the program:
- Up to 1 million Gold Cards sold: Generating $5 trillion in revenue (President Trump)
- More conservative estimate of 200,000 cards: Generating $1 trillion (Secretary Lutnick)
The stated goal is to use these funds to pay down the national debt, with additional benefits expected from increased spending and investment by Gold Card holders.
Comparison to Global “Golden Visa” Programs
Many countries, including Portugal, Spain, and Malta, have implemented similar programs offering residency or citizenship in exchange for investment. However, several of these programs have been scaled back or discontinued due to concerns about:
- Limited economic benefits
- Rising property prices
- Money laundering and security risks
- Public backlash against “selling citizenship”
Experts caution that the success of the Gold Card will depend on global demand for U.S. residency at the $5 million price point, which is significantly higher than most comparable programs worldwide.
Policy Context
The Gold Card is part of a broader shift in U.S. immigration policy under the Trump Administration, which has focused on tightening controls on illegal immigration while creating new pathways for wealthy immigrants. The administration argues that this approach will:
- Attract individuals who can make significant economic contributions
- Reduce administrative complexity and fraud
- Provide a clear, transparent process for applicants
Critics, however, question whether the program will deliver on its promises and raise concerns about fairness, equity, and the message it sends about U.S. immigration priorities.
Options
Option 1: Proceed with the Gold Card Program as Proposed
- Advantages:
- Immediate revenue generation for the U.S. government
- Simplified process compared to EB-5
- Potential to attract high-net-worth individuals and their families
- Disadvantages:
- Uncertain global demand at the $5 million price point
- Risk of public backlash over “selling” residency
- No direct job creation or investment requirements
Option 2: Modify the Program to Include Investment or Job Creation Requirements
- Advantages:
- Aligns with traditional U.S. immigration goals of economic development and job creation
- Addresses concerns about passive residency for the wealthy
- May increase public support and legitimacy
- Disadvantages:
- Adds complexity and administrative burden
- May reduce attractiveness to potential applicants
Option 3: Maintain the EB-5 Program with Reforms
- Advantages:
- Builds on existing infrastructure and experience
- Focuses on job creation and economic development
- Addresses fraud and abuse through targeted reforms
- Disadvantages:
- May not generate as much immediate revenue
- Ongoing concerns about complexity and processing times
Option 4: Implement a Hybrid Approach
- Advantages:
- Offers both a direct purchase option (Gold Card) and an investment-based pathway (reformed EB-5)
- Maximizes flexibility and appeal to a broader range of applicants
- Allows for data collection and evaluation of both models
- Disadvantages:
- Increases administrative complexity
- Potential for confusion among applicants
Recommendations
Based on the available evidence and international experience, the following recommendations are offered for policymakers and stakeholders:
- Monitor Global Demand Closely
- Track application numbers and interest after the launch of trumpcard.gov
- Adjust program parameters if demand is significantly lower or higher than expected
- Consider Adding Economic Development Requirements
- Explore options to require or incentivize Gold Card holders to invest in U.S. businesses, real estate, or job creation
- This could help address concerns about passive residency and maximize economic benefits
- Ensure Rigorous Vetting and Transparency
- Maintain strict background checks and security screening for all applicants
- Publish regular reports on program outcomes, including revenue generated and economic impact
- Engage with Stakeholders and the Public
- Solicit feedback from immigration experts, business leaders, and community organizations
- Communicate clearly about the goals and benefits of the program to build public trust
- Evaluate and Adjust Based on Outcomes
- Set clear benchmarks for success, including revenue targets and economic contributions
- Be prepared to modify or discontinue the program if it does not meet its objectives or raises significant concerns
- Maintain Alternative Pathways for Other Immigrants
- Ensure that the focus on wealthy applicants does not come at the expense of other immigration pathways, such as family reunification, refugees, and skilled workers
Practical Guidance for Potential Applicants
- Monitor the official website: Interested individuals should visit trumpcard.gov for the latest information and to register their interest.
- Prepare documentation: Applicants will likely need to provide proof of funds, identification, and undergo background checks.
- Consult with immigration professionals: Given the high stakes and evolving details, potential applicants should seek advice from qualified immigration attorneys or consultants.
- Stay informed: As the program is new, details may change rapidly. Regularly check official government sources and reputable immigration news outlets for updates.
Conclusion
The Gold Card program represents a bold new direction in U.S. immigration policy, offering a direct path to permanent residency for wealthy foreigners willing to pay a premium. While the Trump Administration touts the program’s potential to generate massive revenue and attract global talent, its ultimate success will depend on demand, implementation, and public acceptance. Policymakers should proceed with caution, drawing on lessons from other countries and remaining responsive to feedback and outcomes. As more details become available with the launch of trumpcard.gov, both potential applicants and the broader public will gain a clearer picture of what this new era of wealth-based immigration means for the United States 🇺🇸.
For further information on U.S. immigration forms and processes, visit the U.S. Citizenship and Immigration Services (USCIS) official website. According to analysis by VisaVerge.com, the Gold Card program could reshape the landscape of American immigration policy, but its real-world impact will only become clear in the months and years ahead.
Learn Today
Gold Card program → A new $5 million fee immigration policy granting U.S. permanent residency without investment requirements.
EB-5 Immigrant Investor Program → A program allowing residency via business investments and job creation since 1990.
USCIS → U.S. agency managing immigration benefits and processes, including green card applications.
Vetting process → Background checks and security screenings to verify applicants’ eligibility and safety.
Customs and Border Protection (CBP) → Government agency overseeing border security and immigration enforcement.
This Article in a Nutshell
The U.S. launches the Gold Card, a $5 million permanent residency program targeting wealthy foreigners. Replacing EB-5, it simplifies immigration while aiming to generate substantial revenue to reduce national debt via a secure, vetted process announced by the Trump Administration at trumpcard.gov.
— By VisaVerge.com
