Former President Donald Trump has unveiled a new immigration proposal targeted specifically at the world’s affluent. Known as the “Gold Card,” this plan provides affluent foreigners with an expedited path to permanent residence in the United States for a hefty fee of $5 million. This initiative resembles a premium version of the standard green card and is generating considerable interest among global millionaires.
Matthew Kolken, an immigration lawyer based in Buffalo, likens the cost to “jet fuel money” for his Canadian clientele, suggesting that the program effectively allows the wealthy to sidestep bureaucratic hurdles simply by presenting their luxury credit cards. He considers the expense to be reasonable given the exclusive privileges it promises.
Interest in the proposition is already transcending borders. Immigration attorney Mona Shah reports an increasing curiosity from clients in nations such as India, Pakistan, Egypt, and Russia. The attraction? A quicker path to residency, minimal U.S. tax obligations—taxing only income generated within the U.S.—and the appeal of an elevated social status.
Although specific advantages have not been outlined, Shah mentions that clients are envisioning special benefits like expedited airport processing and more accessible financial services. Trump himself hinted at a “privileges-plus” package, potentially offering Gold Card holders a first-class entry experience into the country.
Despite the buzz, the specifics remain unclear. Since announcing the plan in February, Trump has not presented any detailed information. Nonetheless, he has expressed excitement about the concept, even suggesting it be named the “Trump Gold Card.” A government website, TrumpCard.gov, is said to include a mock-up of the card featuring his image prominently.
Trump believes the initiative could yield substantial revenue, contributing to the reduction of the national debt. He has even anticipated that sales could reach into the millions, resulting in trillions of dollars. However, legal experts express skepticism. Most predict that genuine demand will be in the low thousands rather than millions.
Immigration attorney Darren Silver notes that while initial interest is strong, many wealthy clients hesitate when they discover that the Gold Card is not an investment opportunity. Unlike the EB-5 visa—which necessitates funding a business that creates jobs—the Gold Card does not offer any financial return. It essentially represents a significant contribution to the U.S. government, which often dampens enthusiasm.
The U.S. would not be the first nation to introduce such a scheme. Countries like Portugal, the UAE, Malta, and Greece have established similar “golden visa” programs, though many of these have recently been halted. Malta’s version was terminated by the European Union due to legal issues, while the UK discontinued its program in 2022 over concerns regarding national security and money laundering.
Kate Hooper, a senior analyst at the Migration Policy Institute, points out that such programs frequently attract dubious individuals. She states that effective background checks and verification of wealth origins remain significant obstacles, contributing to the failure of various global investor visa initiatives.
Trump has assured rigorous vetting for Gold Card candidates. However, when questioned about whether Russian oligarchs could be eligible, his reply—“Yeah, possibly. I know some Russian oligarchs that are very nice people”—raised eyebrows and reignited concerns.
The initiative also poses a political dilemma. It promotes the immigration of high-net-worth individuals while the wider system continues to deport migrants with fewer resources. Critics argue that it underscores the increasing disparity in the treatment of wealthy versus impoverished immigrants.
Mona Shah refers to the program as “capitalism in its rawest form,” implying that it contradicts the foundational values of America. Nevertheless, some supporters find value in the concept. Stephen Moore, a former economic advisor to Trump, argues that this is a more effective method for generating funds than increasing taxes on American citizens. He believes that the U.S. immigration system can accommodate both the world’s wealthy and impoverished.
John Lettieri, the CEO of the Economic Innovation Group, views the Gold Card as a step towards immigration policies focused on skills and investments. He criticizes the current lottery-based visa system’s randomness and thinks this method provides something concrete in return, potentially aiding public funding efforts. However, a significant legal question arises: Is Trump able to initiate such a program without the approval of Congress? He claims it is lawful because it grants residency rather than citizenship. Many legal scholars, legislators, and immigration experts—regardless of their political affiliations—are not fully convinced.
At present, the Gold Card is an ambitious idea. While it generates interest among the affluent and prompts humorous reactions online—one user joked about a “$1 million discount” through marriage—it also poses critical questions regarding equity, national principles, and the trajectory of U.S. immigration policy.
Source: NPR News 02/06/2025