On Tuesday night, President Donald Trump announced a new initiative dubbed the “gold card,” which aims to create a pathway to U.S. citizenship for wealthy foreign nationals willing to pay a fee of $5 million.
“Think of it as a green card, but elevated to gold status,” Trump said during a press briefing in the Oval Office. “We’re looking at a price point of around $5 million for this card, which will grant you green card benefits and pave the way to citizenship. This initiative is designed to lure affluent individuals to our nation.”
The President stated that the sale of these cards is expected to begin in about two weeks. However, legal experts warn that such a program will require approval from Congress. “A President cannot create a visa program on their own; that authority lies with Congress,” noted Lori Nessel, a law professor at Seton Hall University.
The Trump Administration has been actively seeking ways to curtail the U.S. deficit, including the establishment of new agencies like the Department of Government Efficiency (DOGE). The introduction of the “gold card” may be part of the administration’s strategy to generate additional revenue.
A fiscal analysis from October 28, 2024, projected that the financial policies of the Trump Administration could result in a staggering increase of $7.75 trillion in the deficit over the next decade. Last year, the federal deficit was reported at $1.83 trillion, according to the U.S. Treasury Department.
This announcement comes as the administration tightens its immigration policies, which include measures to restrict asylum claims at the border and a commitment to what is being described as the “largest deportation operation” in U.S. history. On Tuesday, the U.S. Citizenship and Immigration Services (USCIS) stated that, with “limited exceptions,” all undocumented immigrants aged 14 and older who did not complete fingerprinting or registration when applying for a U.S. visa and who have been in the country for more than 30 days must enroll in an immigration registry.
Analysts argue that the new program underscores the administration’s immigration priorities. “It’s contradictory to announce plans for mass deportation while simultaneously offering an easier pathway for those with significant financial means. This clearly illustrates who is prioritized in American society,” Nessel commented.
While many aspects of the proposed gold card initiative remain uncertain, here’s what we know so far.
What is Trump’s “gold card” route to citizenship?
The “gold card” initiative is designed to allow wealthy foreigners to gain U.S. citizenship by paying a fee of $5 million.
This new card would effectively replace the existing EB-5 immigrant investor visa program, which allows foreign investors to seek lawful permanent residency by investing in commercial enterprises that create or maintain at least ten full-time jobs for U.S. workers, according to USCIS guidelines.
Although the proposed “gold card” may appear similar to the EB-5 program, experts warn that the latter includes protective measures to prevent the mere purchase of citizenship. “The core purpose of the EB-5 program is not simply about high fees for a visa; it’s about proving that you can make a substantial economic contribution to our country,” Nessel stated. “It’s unclear what vetting or security measures would be in place for this new initiative.” Nessel also pointed out that similar programs in other countries have been discontinued due to concerns related to money laundering and tax evasion, with a comparable initiative in Spain expected to end this April.
How might Trump’s “gold card” work?
The specific operational details of Trump’s “gold card” remain ambiguous. Commerce Secretary Howard Lutnick mentioned in the Oval Office that applicants would need to be vetted to confirm they are “wonderful world-class global citizens,” though further details were not provided.
When asked by reporters whether Russian oligarchs would be eligible to apply, Trump replied: “Possibly. I know some Russian oligarchs who are really nice people.”
The legality of the “gold card” visa initiative is also questionable. The EB-5 program, which the current administration claims it seeks to replace, was created by Congress in 1990. This program permits potential immigrants to apply for a green card by investing $1,050,000 or $800,000 in targeted employment areas—like rural locations or regions with high unemployment—if they meet various criteria, which can result in a lengthy process. “The EB-5 program is enshrined in statutory law, established by Congress. The President cannot unilaterally change it,” remarked Jorge Loweree, managing director of programs at the American Immigration Council.
The EB-5 visa program has an annual cap of roughly 10,000 visas, making up about 7.1% of the total 140,000 employment-based visas available each fiscal year, according to the State Department.
Lutnick has been a vocal critic of the EB-5 program. On Tuesday, he characterized it as “filled with nonsense, make-believe, and fraud,” and dismissed it as a “low-cost pathway to a green card.”
