Media: Wealthy foreigners can soon apply for Trump’s $5 million "gold card" visa

Wealthy foreigners will soon be able to apply for a new “gold card” visa, granting permanent residence and work rights in the US, Commerce Secretary Howard Lutnick announced on May 21. 

He said the registration website, tentatively named “TrumpCard.gov,” is expected to launch within a week, allowing applicants to start the process immediately, Caliber.Az reports, citing US media.

More detailed information about the visa program will be released in the coming weeks.

This new visa, proposed by President Donald Trump in February, is designed to replace the current EB-5 immigrant investor program. Unlike the EB-5, which requires investments of $1.8 million—or $900,000 in designated economically distressed areas—to qualify for a green card, the “gold card” will carry a $5 million price tag. In addition to permanent residency, the card will provide a path to citizenship.

Lutnick indicated strong early interest in the program, noting during a recent trip to the Middle East that many prospective applicants with sufficient financial means were eager to participate. “Basically, everyone I meet who is not an American is going to want to buy this card if they have the fiscal capacity,” he said.

President Trump described the program as a lucrative opportunity for the US, emphasising its potential to attract wealthy investors who will contribute significantly to the economy. “We’re going to be putting a price on that card of about $5 million, and that’s going to give you green card privileges, plus it’s going to be a route to citizenship. And wealthy people will be coming into our country by buying this card,” Trump said in February from the Oval Office.

However, immigration law experts have cautioned that establishing a new visa category requires Congressional approval, which could pose legislative hurdles.

Lutnick also highlighted the program’s potential to help address the massive US federal debt, which currently exceeds $36 trillion. “These are going to be great people who are going to come and bring businesses and opportunity to America, and they’re going to pay $5 million,” he said. “If there are 200,000 people who pay, that’s a trillion dollars. That pays for everything.”

By Tamilla Hasanova