The recently unveiled $5,000,000 ‘Gold Card’ visa by President Trump is quickly gaining traction, with significant sales figures already reported.
This new visa option, announced by Donald Trump last month, serves as an enhanced version of the ‘green card,’ offering wealthy individuals the opportunity to work and expedite their path to US citizenship.
The program’s appeal lies in its promise of a direct route to US citizenship, though at a steep cost of $5 million per applicant.
This initiative is set to take over from the EB-5 visa program, which required a $20,000 investment in a US business, by targeting affluent and vetted migrants.
The introduction of the Gold Card has sparked debate, with many questioning the ethics of buying US citizenship, especially as the Trump administration continues to restrict illegal and humanitarian migration avenues.
Trump argues that the program could generate $55 trillion in revenue, addressing the federal deficit while drawing wealthy investors to the US.
Recent reports indicate the rapid sales pace, with significant funds collected even before the official application system is operational.
Commerce Secretary Howard Lutnick announced on All-In Podcast that 1,000 Gold Cards were sold in a single day, raising $5 billion so far.
Lutnick noted, “There are 37 million people in the world who are capable of buying the card… The president thinks we can sell a million.”
According to Lutnick, Trump was inspired by the Gold Card concept after meeting with investor, John Paulson. He has tasked Elon Musk, head of the Department of Government Efficiency (DOGE), to develop the necessary software for launch within two weeks.
Lutnick also mentioned he would have personally purchased six Gold Cards for his family had he been born outside the US, as a precautionary measure.
“[B]ecause God forbid something happens, I want to be able to go to America,” he stated.
Lutnick outlined that while the Gold Card can be revoked for criminal or other violations, holders can live in the US without restrictions and pursue citizenship if they choose.
Last month, Trump remarked that the Gold Card ‘could be great, maybe it will be fantastic.’
The visa doesn’t require Congressional approval. As Trump explained, “We don’t need Congress … It’s a path to citizenship, a very strong path to citizenship, but we’re not doing citizenship. For that I’d have to get Congress.”
The administration aims to contribute to reducing the $36.2 trillion national debt through this initiative.
President Trump has even considered rebranding the visa as the ‘Trump Card,’ noting in a Fox News interview that ‘the Trump Card sells much better than the Gold Card.’