Trump’s $5M ‘Gold Card’ Visa Faces Mixed Reactions from Wealthy Investors

Synopsis: President Donald Trump introduces the "Gold Card" visa, granting U.S. residency in exchange for a $5 million payment. Replacing the EB-5 program, the initiative removes job creation requirements and offers indefinite stay. While officials claim high sales, wealthy individuals remain skeptical.

President Donald Trump has introduced the "Gold Card" visa program, a new initiative allowing individuals to obtain U.S. permanent residency, and potentially citizenship, in exchange for a direct payment of $5 million to the U.S. government. This program is set to replace the existing EB-5 investor visa, which traditionally requires a minimum investment of $1.05 million (or $800,000 in designated employment areas) and the creation of at least 10 full-time U.S. jobs. The new initiative eliminates the job creation requirement and aims to offer a faster and more straightforward path to residency.

Commerce Secretary Howard Lutnick, speaking on the All-In Podcast, claimed that the demand for the Gold Card is substantial, with 1,000 cards reportedly sold daily. According to Lutnick, the idea for this initiative emerged from discussions between Trump and investor John Paulson, with Elon Musk involved in developing software for the program. He emphasized that there are approximately 37 million individuals worldwide capable of affording the Gold Card, and Trump believes they could potentially sell a million.

The program offers green card rights without the usual waiting period, allowing buyers to stay indefinitely in the U.S. Although they can apply for citizenship, many may avoid doing so to bypass America’s stringent global taxation laws. Lutnick himself expressed strong support for the program, stating that if he were not already American, he would purchase multiple Gold Cards for himself and his family. Trump has announced that there will be no cap on the number of Gold Cards issued, unlike the EB-5 visa, which is currently limited to 18,786 visas annually.

Despite the program's ambitious goals, it has faced skepticism from the ultra-rich. In a survey conducted by Forbes, out of 18 billionaires interviewed, 13 dismissed the offer, questioning its necessity. A Canadian billionaire remarked that those with significant wealth do not require such a visa. Similarly, a Russian billionaire questioned why someone would pay $5 million for a Gold Card, while Indian business leader Abhay Soi expressed no interest in changing his nationality, emphasizing his loyalty to India.

The Gold Card initiative signals a significant shift in U.S. immigration policy, focusing on high-net-worth individuals to generate substantial revenue for the country. While initial reports suggest strong sales, the long-term success of the program will depend on continued demand from global elites and its overall impact on U.S. immigration dynamics.

Disclaimer: This article is for informational purposes only and does not constitute legal or financial advice. Potential applicants should seek professional consultation before making any decisions.