Trump’s $5 Million “Gold Card” Visa: What Investors Need to Know

On February 25, 2025, former President Donald Trump proposed the Trump Gold Card Visa during a press conference.

What is the Trump Gold Card Visa?

The Trump Gold Card Visa is a proposed immigration program designed to offer wealthy investors a pathway to U.S. permanent residency and potentially citizenship by making a $5 million investment in the U.S. economy. While the proposal has generated some buzz, it is still in the proposal phase, and its future remains uncertain. If the program moves forward, it could provide a more direct route to U.S. residency for those who can afford the high investment threshold.

How It Differs from the Current EB-5 Program

The EB-5 program, a long-established immigration route, requires a $1 million investment in U.S. businesses or projects to secure U.S. residency. The Gold Card Visa increases the investment requirement to $5 million, which raises questions about its viability. While the higher investment is intended to attract larger-scale investors, it’s unclear whether the Gold Card will resonate with prospective investors, especially when compared to more affordable and attractive alternatives.

The $5 Million Investment Requirement

The $5 million investment tied to the Gold Card Visa is substantial. While it may appeal to a select group of wealthy investors, it remains to be seen whether this will be enough to attract a significant pool of applicants. With many other countries offering lower investment thresholds for residency or citizenship in regions with global access (such as the EU), the Gold Card Visa may struggle to compete for investor attention.

Path to Permanent Residency and Citizenship

If the $5 million investment is approved, the Gold Card Visa would grant investors permanent residency in the U.S. and the potential for U.S. citizenship after fulfilling residency requirements. However, as the program is still under consideration, its implementation is far from certain, and investors should proceed cautiously, keeping in mind the political and legal hurdles that could delay or alter the proposal.

Current EB-5 Program vs. Gold Card: Key Differences

Investment Amounts ($1 Million vs. $5 Million)

The most significant difference between the EB-5 program and the Trump Gold Card Visa is the investment amount. While the EB-5 program requires an investment of $1 million, the Gold Card Visa proposal raises that threshold to $5 million. This difference could be a major deterrent for many investors, especially when alternative residency and citizenship programs offer access to global markets at a fraction of the price.

Job Creation Requirements

The EB-5 program mandates that investors create 10 full-time U.S. jobs through their investments. The Gold Card Visa may have similar requirements, but it’s still unclear whether the program will impose the same level of job creation or whether it will offer more flexibility in terms of how the investments contribute to the U.S. economy.

Processing Timelines

One of the pain points of the EB-5 program is the lengthy processing times, which can stretch into years. The Gold Card Visa proposal aims to address this by offering faster processing times, but since the program is still in the proposal stage, there’s no guarantee that these faster timelines will be achievable.

Benefits Comparison

Both the Gold Card Visa and the EB-5 program provide U.S. residency and a path to citizenship. However, with the Gold Card Visa requiring a $5 million investment, it could be considered less attractive when compared to other residency programs that offer EU residency at a much lower cost, with the added benefit of access to multiple countries.

Legal Questions Surrounding the Gold Card Proposal

Presidential Authority to Replace the EB-5 Program

One of the major questions surrounding the Gold Card Visa is whether President Trump has the legal authority to replace the EB-5 program with this new initiative. The program would likely require Congressional approval before it can become a permanent immigration option, so even if the President pushes for its approval, significant legal and political hurdles remain.

Congressional Involvement Requirements

Even if the Gold Card Visa is supported by the executive branch, it would still need Congressional approval to become law. Until this happens, the Gold Card Visa remains just a proposal, and investors should be aware of the uncertainty surrounding its approval process.

Timeline for Implementation

The timeline for the Gold Card Visa implementation is still unclear. While the proposal has gained attention, it is still in the early stages and may take several years for Congress to pass the necessary legislation. Investors interested in the program should remain patient and stay informed about any developments.

Potential Legal Challenges

Like any major immigration overhaul, the Gold Card Visa is likely to face legal challenges. These could come from supporters of the EB-5 program, immigrant rights groups, or other stakeholders who may argue that the program disproportionately benefits wealthy individuals. These challenges could delay the program’s implementation or result in modifications to its structure.

Opinion from CEO Jeremy Savory on Trump's Gold Card Visa Proposal

Is $5 Million for U.S. Residency Really Worth It?

At Savory & Partners, we’ve been at the forefront of Residency and Citizenship by Investment for over 15 years, processing over 11,000 applications for clients. From our experience, the Trump Gold Card Visa raises significant concerns.

When you compare the Gold Card Visa to alternatives like Malta’s Golden Visa, which costs just €775,000 for EU residency and can lead to citizenship in just 12 months, the Gold Card seems excessive, especially considering it only grants U.S. residency.

Here’s a quick comparison of global options:

• El Salvador offers residency for just $1 million.

• Malta’s Golden Visa offers EU access for €775,000, with no taxes if you don’t reside in Malta, and citizenship eligibility in 12 months.

• Portugal offers a Golden Visa starting at €200,000, providing EU residency with the possibility of Portuguese citizenship in five years.

So, the question remains - why would investors pay $5 million for U.S. residency when they can get access to the EU at a fraction of the cost?

Additionally, there’s another important consideration: taxes. Unlike countries like Malta and Portugal, which offer non-tax residency options (where you’re not taxed on your global income if you don’t reside in the country), the U.S. has a unique taxation system. As a U.S. citizen, you would be required to file taxes on your global income, even if you don’t live in the U.S.

This is a major drawback for many investors who are not looking to be taxed on their worldwide earnings. The U.S. tax system is one of the few that taxes its citizens on foreign income. For those investors looking for a residency program with minimal tax obligations, the Gold Card Visa may not be the best choice.

Will Investors See the Gold Card Visa as a Better Option?

In our experience, investors are typically comfortable donating 10-20% of their net worth for second citizenship or residency. But how many individuals with a $25 million net worth are comfortable committing $5 million to a program that only grants access to the U.S.?

Moreover, many of these investors may not even need U.S. residency or may prefer to live in non-taxing jurisdictions. The Gold Card Visa could seem appealing to some, but with programs like Malta, Portugal, and El Salvador offering better value, it’s uncertain how many will choose to go with the Gold Card instead.

What stands out most is that this proposal reflects the growing global market for citizenship and residency by investment. Countries are increasingly competing for capital, as EU regulations are tightening on Golden Visas.

While we remain cautious about the Gold Card Visa, it’s clear that it signals a shift in the global immigration landscape. It may face hurdles, but it's a strong reminder that countries like the U.S. are exploring ways to attract foreign investment.

Economic Impact and Government Revenue

Potential Deficit Reduction Claims

Supporters of the Gold Card Visa argue that it could help reduce the U.S. budget deficit by bringing in $5 million investments into the country. While this is a reasonable claim, it’s important to weigh this against the costs involved, including the higher investment requirement and the limited market it might attract.

Job Creation Considerations

While the Gold Card Visa might not have the same strict job creation requirements as the EB-5 program, the goal would still be to drive economic growth. If implemented, the program would likely focus on investments that create long-term job opportunities.

Economic Benefits for the United States

There’s potential for the Gold Card Visa to bring significant capital to the U.S. economy, but the high investment requirement might make it less appealing compared to other, more accessible residency options.

Market Demand Projections

There is a growing demand for investment-based immigration programs globally, but whether the Gold Card Visa will attract enough interest to be sustainable remains uncertain. Investors will have to weigh the costs and benefits before committing their capital.

What We Don’t Know Yet

Specific Implementation Details

As the Trump Gold Card Visa remains a proposal, many details are still unclear. These include the types of projects the investment will focus on, how the application process will work, and the specifics of the job creation requirements

Job Creation Requirements (If Any)

Whether the Gold Card Visa will have specific job creation requirements like the EB-5 program is still uncertain. Until more details are provided, investors should be cautious.

Application Process Specifics

Once the Gold Card Visa is confirmed, we expect the application process to be similar to the EB-5 program, but with potentially faster approval times. Investors will need to gather the required documentation, including proof of funds and investment plans.

Transition Plan for Current EB-5 Applicants

For those already in the EB-5 pipeline, it’s unclear whether they will be able to transition into the Gold Card Visa or if they will need to reapply. This will depend on the final structure of the program.

Investment Immigration Alternatives

Current EB-5 Program (Until Changes Occur)

The EB-5 program remains a strong option for investors looking to secure U.S. residency. However, with the potential introduction of the Gold Card Visa, investors may need to reassess whether it’s the best path for them.

Other Countries Investment Visa Programs

Countries like Portugal, Malta, and Spain offer investment visa programs that give you access to the EU and other desirable regions. These options are more accessible and provide flexibility that the Gold Card Visa cannot match.

Comparative Analysis of Global Options

When comparing the Gold Card Visa to other programs, it's important to consider factors like investment amounts, processing timelines, tax benefits, and global access. The EU Golden Visas often offer better value for money.

Risk Assessment for Different Pathways

Every investment immigration program carries risks. Be sure to carefully assess your options, whether it’s the Gold Card Visa, EB-5, or another country’s program - to determine which one is the best fit for your needs.

References

People. (2025, February 25). Donald Trump says U.S. will start selling $5M ‘gold cards’ to admit ‘wealthy’ immigrants. People. https://people.com/donald-trump-gold-cards-wealthy-immigrants-1168693

The Guardian. (2025, February 26). Trump gold card: How the wealthy can gain U.S. residency for $5 million. The Guardian. https://www.theguardian.com/us-news/2025/feb/26/trump-gold-card-visa-rich-foreigners

New York Post. (2025, February 25). Trump says US will sell $5M ‘gold cards’ to foreigners: ‘Green card privileges-plus’. New York Post. https://nypost.com/2025/02/25/us-news/trump-says-us-will-sell-5m-gold-cards-to-foreigners-green-card-privileges-plus/