On Tuesday night, President Donald Trump announced an ambitious new initiative called the “gold card,” which would provide wealthy foreign nationals with a route to U.S. citizenship for a hefty fee of $5 million.
“Think of it as a green card, but elevated to gold status,” Trump remarked during a press briefing at the Oval Office. “We plan to set the price at around $5 million for this card, which will grant you the benefits of a green card and pave the way to citizenship. This initiative aims to draw affluent individuals to our shores.”
The President mentioned that the sale of these gold cards would begin in about two weeks. However, legal experts warn that implementing such a program would require approval from Congress. “A President cannot single-handedly establish a visa program; that responsibility lies with Congress,” noted Lori Nessel, a law professor at Seton Hall University.
The Trump Administration has been evaluating various methods to address the U.S. deficit, including initiatives like the Department of Government Efficiency (DOGE). The introduction of the “gold card” may be a strategic move to increase revenue.
A fiscal report from October 28, 2024, projected that the Trump Administration’s financial approach could potentially raise the deficit by $7.75 trillion over the next decade. The previous year saw the federal deficit hit $1.83 trillion, according to the U.S. Treasury Department’s data.
This announcement comes as the Administration intensifies its efforts to tighten immigration regulations, which include initiatives to restrict asylum claims at the border and a commitment to undertake what has been described as the “largest deportation operation” in U.S. history. On Tuesday, the U.S. Citizenship and Immigration Services (USCIS) declared that, except for a few limited exceptions, all undocumented immigrants aged 14 and older who have not been fingerprinted or registered when applying for a U.S. visa and who remain in the country for more than 30 days must register in an immigration database.
Analysts have pointed out that this new initiative embodies the Administration’s immigration priorities. “It’s contradictory to announce a plan to deport everyone living here without permission while simultaneously offering an easier entry route for those with significant financial means. This clearly illustrates who is prioritized in American society,” remarked Nessel.
While many aspects of the proposed gold card remain ambiguous, here’s what we currently know.
What is Trump’s “gold card” pathway to citizenship?
The “gold card” initiative essentially aims to allow wealthy foreigners to obtain U.S. citizenship by paying a fee of $5 million.
This proposed card would replace the existing EB-5 immigrant investor visa program, which allows foreign investors to seek lawful permanent residency if they invest in commercial ventures that create or maintain at least 10 full-time jobs for U.S. workers, as per USCIS guidelines.
While the proposed “gold card” may appear similar to the EB-5 program, experts warn that the latter includes critical safeguards designed to prevent the commodification of citizenship. “The core of the EB-5 program is not about simply paying exorbitant fees for a visa; it’s about showing that you can positively impact our economy,” Nessel explained. “It remains unclear what vetting or security measures would be implemented for this new initiative.” Nessel also pointed out that similar visa programs in other countries have been shut down due to concerns over money laundering and tax evasion, with Spain set to terminate a comparable program this April.
How might Trump’s “gold card” function?
The specific operational details of the “gold card” remain somewhat murky. Commerce Secretary Howard Lutnick mentioned in the Oval Office that applicants would go through a vetting process to ensure they are “wonderful world-class global citizens,” although no specifics were disclosed.
When asked by reporters if Russian oligarchs could be eligible, Trump replied: “Perhaps. I know some Russian oligarchs who are genuinely good people.”
The legality of the “gold card” visa is also in question. The EB-5 program, which the current administration asserts it seeks to replace, was established by Congress in 1990. This program allows potential immigrants who invest $1,050,000 or $800,000 in designated employment zones—such as rural areas or regions with high unemployment—to apply for a green card, provided they meet various other criteria, which can prolong the process. “The EB-5 program is part of statutory law, created by Congress. The President cannot simply override it,” pointed out 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, representing roughly 7.1% of the 140,000 employment-based visas available each fiscal year, as reported by the State Department.
Lutnick has been a vocal critic of the EB-5 program. On Tuesday, he described it as “filled with nonsense, make-believe, and fraud,” dismissing it as merely a “low-cost pathway to a green card.”
