On Tuesday evening, President Donald Trump revealed plans to introduce a “gold card” initiative that would offer wealthy foreign nationals a pathway to U.S. citizenship for a fee of $5 million.
“Imagine having a green card, but this is a gold card,” Trump stated during a press briefing in the Oval Office. “We’re going to set a price of approximately $5 million for this card, which will provide you with green card benefits and open the door to citizenship. This will attract affluent individuals to our country.”
The President indicated that sales of these cards would commence in roughly two weeks. However, experts caution that such a program requires congressional approval. “A President cannot unilaterally create a visa program; that’s the role of Congress,” explained Lori Nessel, a law professor at Seton Hall University.
The Trump Administration has been exploring various strategies to reduce the U.S. deficit, including the establishment of agencies like the Department of Government Efficiency (DOGE). The introduction of the “gold card” may be one of the ways the President aims to boost revenue.
A fiscal analysis dated October 28, 2024, projected that the Trump Administration’s financial strategy could lead to an increase in the deficit by $7.75 trillion over the next ten years. In the previous year, the federal deficit reached $1.83 trillion, based on data from the U.S. Treasury Department.
This announcement comes amidst the Administration’s ongoing efforts to tighten immigration policies, which include efforts to limit asylum claims at the border and a commitment to executing what is described as the “largest deportation operation” in U.S. history. On Tuesday, the U.S. Citizenship and Immigration Services (USCIS) declared that, with “limited exceptions,” all undocumented immigrants aged 14 and older who did not undergo fingerprinting or registration when applying for a U.S. visa and who remain in the country for over 30 days must enroll in an immigration registry.
Analysts point out that the new program reflects the Administration’s immigration priorities. “It’s contradictory to announce the intent to deport everyone residing here without permission while simultaneously stating that those with substantial financial resources will have an easier route to entry. This sends a clear message about who is valued in American society,” Nessel remarked.
While many details about the proposed gold cards remain unclear, here’s what we know at this stage.
What is Trump’s “gold card” route to citizenship?
The “gold card” initiative essentially would enable affluent foreigners to secure American citizenship by paying a $5 million fee.
This new card would replace the current EB-5 immigrant investor visa program, which permits foreign investors to apply for lawful permanent residency if they invest in commercial ventures that create or preserve 10 permanent full-time jobs for U.S. workers, as outlined by USCIS.
Although the proposed “gold card” may seem similar to the EB-5 program, experts caution that the latter includes safeguards designed to prevent wealthy individuals from merely buying citizenship. “The essence of the EB-5 program is not about paying exorbitant fees for a visa; it’s about demonstrating that you possess the financial resources to contribute meaningfully to our economy,” Nessel explained. “It remains uncertain what kind of vetting or security measures would be implemented for this new initiative.” Nessel also highlighted that similar visa programs in other nations have been terminated due to concerns over money laundering and tax evasion. A comparable program in Spain is set to close this April.
How might Trump’s “gold card” work?
The operational mechanics of Trump’s “gold card” remain unclear. Commerce Secretary Howard Lutnick stated in the Oval Office that applicants would undergo a vetting process to confirm they are “wonderful world-class global citizens,” although no specific details were provided.
When questioned by reporters about whether Russian oligarchs could apply, Trump responded: “Possibly. I know some Russian oligarchs who are very nice people.”
The legality of the “gold card” visa is also in doubt. The EB-5 program, which the current administration claims it aims to replace, was established by Congress in 1990. This program allows potential immigrants who invest $1,050,000 or $800,000 in targeted employment areas—such as rural regions or areas facing high unemployment—to apply for a green card, provided they meet various other criteria, which can make the process lengthy. “The EB-5 program is part of statutory law, created by Congress. The President cannot simply override it,” noted Jorge Loweree, managing director of programs at the American Immigration Council.
The EB-5 visa program has an annual cap of around 10,000 visas, which constitutes approximately 7.1% of the 140,000 employment-based visas available each fiscal year, as reported by the State Department.
Lutnick has been a prominent critic of the EB-5 program. On Tuesday, he described it as “filled with nonsense, make-believe, and fraud,” and dismissed it as a “low-cost pathway to a green card.”
