Trump rolls out $5 million “Gold Card” program

President Donald Trump has today launched the highly publicized “$5 million Gold Card” immigration program, alongside a dedicated government-backed website where wealthy investors can join a preliminary waitlist. Marketed as a premium alternative to the existing EB-5 investor visa, the Gold Card promises expedited permanent residency—and eventually citizenship—for those able to make the hefty financial commitment.

The online portal, trumpcard.gov, marks the official debut of the initiative. It allows interested applicants to enter basic personal details—name, region, and email—and indicate whether they are applying individually or as a business entity. A striking golden card bearing Trump’s image greets visitors, symbolizing what officials describe as a “higher level of sophistication” compared to traditional green cards.

Trump first unveiled the concept of a “Gold Card” in February, during which he emphasized that for a payment of $5 million, holders would gain green card privileges along with a pathway to citizenship. Complementing his announcement, U.S. Commerce Secretary Howard Lutnick highlighted how this program could funnel trillions of dollars into the economy and aid in reducing the national debt.

Supporters paint the Gold Card as a strategic overhaul to the outdated EB-5 visa program—which currently requires an investment ranging from $800,000 to $1.05 million plus the creation of at least ten jobs. In contrast, the Gold Card eliminates any mandate for job creation, allowing holders to gain permanent residency by simply opening their wallets. Furthermore, cardholders may enjoy exemptions from U.S. taxes on foreign income—a significant divergence from EB-5 regulations .

However, the initiative has sparked immediate legal and political scrutiny. Critics question whether Trump can unilaterally dismantle the EB-5 framework without Congressional approval—especially since immigration statutes are traditionally legislated, not redefined by executive fiat . Concerns have also been raised about the program’s potential vulnerability to fraud and money laundering, echoing past criticisms of EB-5’s misuse.

The choice to feature Russian oligarchs as possible eligible applicants has heightened scrutiny over national security risks. When questioned, Trump did not rule out such participants, stating that some could be “very nice people”.

Despite the concerns, Lutnick remains optimistic. He argues the program will appeal to ultra-wealthy individuals worldwide, creating opportunities for U.S.-based business investment and significantly boosting federal revenues. Trump has even mused about selling millions of Gold Cards—including a hypothetical 10 million—to drastically drive down the national debt.

As of now, the website is live and accepting registrations for the waitlist, but the U.S. Department of Commerce has yet to release full eligibility criteria, vetting procedures, and precise implementation timelines. The administration plans to provide further details in the coming weeks, though legal experts anticipate that Congressional action—or lawsuits—may delay or reshape the program.