Trump’s $5M Gold Card Visa Program Flops With China

Key Takeaways

• Trump’s $5M Gold Card visa launched February 2025 targets wealthy investors with no country caps.
• Chinese investors show low interest due to legal risks, economic uncertainty, and remittance tax proposals.
• Unlike EB-5, Gold Card requires $5 million, no job creation, and lacks clear regulatory oversight.

The Trump administration’s $5 million “Gold Card” visa program, often referred to as Trump’s $5M Gold Card visa program, has drawn global attention since its announcement in February 2025. Marketed as a streamlined path to U.S. residency and eventual citizenship for wealthy foreign investors, the program’s rollout has been closely watched by immigration lawyers, policymakers, and potential applicants—especially from China, a country with a long history of high-net-worth individuals seeking U.S. immigration options. However, despite the administration’s ambitious projections, early data and expert commentary reveal a strikingly low level of interest, particularly among Chinese investors. This analysis examines the program’s purpose, data sources, key findings, and the factors contributing to its slow uptake, with a focus on statistical trends, policy comparisons, and practical implications for stakeholders.

Purpose and Scope of the Analysis

This report aims to provide a comprehensive, data-driven examination of Trump’s $5M Gold Card visa program, focusing on:

• The program’s stated goals and design features
• Uptake trends and interest levels, especially among wealthy foreign investors from China
• Comparative analysis with the long-standing EB-5 Immigrant Investor Program
• Economic, legal, and political factors shaping investor behavior
• Limitations of available data and areas requiring further monitoring

The analysis draws on official statements, government projections, expert commentary, and recent economic forecasts. The period under review spans from the program’s announcement in February 2025 through late May 2025, coinciding with the launch of the initial registration website.

Data Sources and Periods

Key data sources for this analysis include:

• Official statements from Commerce Secretary Howard Lutnick and President Trump (February–May 2025)
• Program implementation updates, including the May 22, 2025 announcement of the registration website
• Economic forecasts from the National Institute of Economic and Social Research (NIESR)
• Immigration law expert commentary and analysis
• Media reports and policy summaries, including coverage by VisaVerge.com
  – Historical data on the EB-5 Immigrant Investor Program for trend comparison

The primary period of interest is February–May 2025, capturing the initial response to the program’s launch and the first steps toward implementation.

Key Findings: Uptake and Investor Response

Low Initial Interest Despite High-Profile Launch

Despite the Trump administration’s projections of up to 200,000 Gold Card recipients (potentially raising $1 trillion in federal funds), actual expressions of interest have been minimal. According to analysis by VisaVerge.com, the program has not generated the anticipated surge in applications, with particularly low engagement from wealthy Chinese investors—a group that has historically dominated U.S. investor visa categories.

Key statistics and projections:

• $5 million investment requirement: This is more than double the minimum investment for most EB-5 applicants, which ranges from $800,000 to $1.05 million depending on the location and type of investment.
• No country-specific caps or quotas: In theory, this should appeal to Chinese investors, who have faced long EB-5 backlogs due to per-country limits.
• Unlimited right of residence and a pathway to citizenship: Marketed as “privileges plus,” but details on the expedited timeline remain unclear.

Chinese Investors: Hesitation and Uncertainty

Chinese nationals have historically accounted for over 80% of EB-5 visa applicants in some years (U.S. Department of State, 2018–2022). However, early indicators suggest that wealthy individuals from China are not rushing to participate in the Gold Card program. Several factors contribute to this trend:

• Legal uncertainty: The program is based on executive action, not congressional legislation, raising concerns about its durability and legal standing.
• Economic headwinds: Recent U.S. tariffs and the threat of a global economic slowdown have made large, non-refundable investments less attractive.
• Additional financial burdens: Proposed taxes on remittances could further erode the program’s appeal for non-citizen investors.

Descriptive Headings and Trend Comparisons

Program Design: How the Gold Card Differs from EB-5

A side-by-side comparison highlights the Gold Card’s unique features and potential drawbacks:

Visual Description: Imagine a bar chart showing EB-5 applications by country from 2018–2022, with China 🇨🇳 towering over other countries. In contrast, a projected Gold Card application chart would show a flat line, reflecting the current lack of uptake.

Legal and Regulatory Uncertainty

The Gold Card program’s reliance on executive action creates a legal gray area. Unlike the EB-5 program, which is grounded in decades of congressional legislation and detailed regulations, the Gold Card lacks a published rulebook. Immigration lawyers warn that:

• Future administrations could suspend or revoke the program
• Applicants may face legal limbo if court challenges arise
• No clear regulatory safeguards exist for investor protection

This uncertainty is especially concerning for Chinese investors, who have experienced abrupt changes in U.S. immigration policy before, such as retroactive visa cutoffs and increased scrutiny of source-of-funds documentation.

Economic and Political Headwinds

Recent U.S. economic policies add another layer of risk for potential investors. President Trump’s tariffs—minimum 10% on all imports, with higher rates for certain countries—have led to:

• Global economic growth projections being revised downward (NIESR estimates a 2% smaller global economy by 2027)
• Increased probability of a U.S. recession (market analysts now estimate a 50% or higher chance)
• Uncertainty about the long-term value of U.S. residency for business and investment purposes

For wealthy Chinese families, the prospect of tying up $5 million in a program with uncertain legal standing and unclear benefits is a significant deterrent.

Additional Financial Burdens: The Remittance Tax

A proposed 5% tax on remittances could further reduce the Gold Card’s appeal. Under the new Republican tax plan:

• All non-citizens, including Gold Card holders, would pay a 5% tax on money sent abroad
• Only U.S. citizens are exempt
• This tax would apply until Gold Card holders complete the naturalization process

For Chinese investors who often maintain family and business ties abroad, this represents a substantial additional cost.

Visual Descriptions and Scenario Examples

Scenario 1: A Chinese Entrepreneur Considers the Gold Card

Ms. Li, a successful entrepreneur from Shanghai, is exploring U.S. immigration options for her family. Under the EB-5 program, she would invest $800,000 in a targeted employment area project, create 10 jobs, and wait several years for a green card due to country caps. The Gold Card offers a faster path—no job creation, no country cap, and the promise of expedited citizenship. However, Ms. Li hesitates:

• The $5 million fee is non-refundable and not tied to any business venture
• She worries the program could be canceled by a future administration, leaving her family in limbo
• The new remittance tax would reduce her ability to support relatives in China
• Economic uncertainty makes her question whether now is the right time to move such a large sum

Scenario 2: A U.S. Real Estate Developer’s Perspective

Mr. Smith, a real estate developer in California, previously relied on EB-5 investors to fund large projects. He hoped the Gold Card would attract a new wave of wealthy foreign investors. Instead, he finds little interest from his Chinese contacts, who cite legal and economic concerns. Without clear regulations or a job creation requirement, Mr. Smith is unsure how to structure deals or market the program.

Limitations of the Data and Analysis

Several limitations affect the current analysis:

• No official application data: As of late May 2025, the registration website has just launched, and no formal application statistics are available.
• Unclear regulatory details: The lack of published rules makes it difficult to assess the program’s practical operation.
• Changing economic conditions: Ongoing trade disputes and market volatility may alter investor sentiment rapidly.
• Potential legal challenges: Court decisions could reshape or halt the program at any time.

Readers should monitor official government updates for the latest information. The U.S. Citizenship and Immigration Services (USCIS) provides authoritative resources on investor visa programs: USCIS EB-5 Immigrant Investor Program.

Actionable Takeaways and Next Steps

For wealthy foreign investors, especially those from China, the current environment for Trump’s $5M Gold Card visa program is marked by uncertainty and risk. Key practical guidance includes:

• Wait for detailed regulations: Prospective applicants should hold off on committing funds until the government publishes clear rules and eligibility criteria.
• Consult qualified immigration attorneys: Legal advice is essential given the program’s untested legal foundation and potential for rapid policy changes.
• Monitor economic and tax policy developments: The impact of tariffs and remittance taxes could significantly affect the long-term value of U.S. residency.
• Consider alternative pathways: The EB-5 program, despite its backlogs and job creation requirements, remains a more established option with clearer legal protections.

Employers and developers hoping to attract foreign investment should temper expectations and focus on transparent communication with potential investors about the program’s risks and unknowns.

Conclusion

Trump’s $5M Gold Card visa program was launched with the promise of attracting the world’s wealthiest individuals to the United States 🇺🇸, raising trillions in federal revenue, and offering a fast track to citizenship. However, early data and expert analysis point to significant barriers to uptake, especially among Chinese investors who have historically driven demand for U.S. investor visas. Legal uncertainty, economic headwinds, and additional financial burdens have combined to create a cautious environment. As the program moves from announcement to implementation, its ultimate success will depend on the administration’s ability to provide legal clarity, address investor concerns, and adapt to shifting global economic conditions.

For ongoing updates and in-depth coverage of U.S. immigration policy changes, VisaVerge.com reports that monitoring both official government sources and independent expert analysis is essential for anyone considering major investment-based immigration decisions.

Official government resource:
USCIS EB-5 Immigrant Investor Program

Next steps:
– Watch for the release of detailed Gold Card regulations at the anticipated TrumpCard.gov website
– Seek professional legal guidance before making any investment decisions
– Stay informed about changes to U.S. tax and immigration policy that could affect long-term residency and financial planning

By carefully weighing the risks and monitoring new developments, wealthy foreign investors can make informed choices about whether Trump’s $5M Gold Card visa program aligns with their goals and risk tolerance.

Learn Today

Gold Card Visa Program → Trump administration’s $5 million investment visa offering expedited U.S. residency and unclear citizenship timeline.
EB-5 Program → Existing immigrant investor visa requiring $800,000–$1.05 million investment and 10 job creations.
Executive Action → A policy enacted by the president without congressional legislation, subject to legal challenges.
Remittance Tax → Proposed 5% tax on funds sent abroad by non-U.S. citizen residents, including Gold Card holders.
USCIS → United States Citizenship and Immigration Services, overseeing immigrant visa programs including EB-5.

This Article in a Nutshell

Trump’s $5M Gold Card visa promises fast U.S. residency for wealthy investors but suffers low interest, especially from China, due to legal uncertainties and economic risks, contrasting sharply with the established EB-5 program’s protections and requirements.
— By VisaVerge.com

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