U.S. President Donald Trump's proposed "Gold Card" visa—a $5 million investment-for-residency program—is drawing increasing attention from wealthy foreign nationals, particularly in India and the Middle East. Promoted as a streamlined alternative to the existing EB-5 visa, the program now has an official website and a live waitlist, according to Trump's recent announcement on his social media platform Truth Social.
What is the Gold Card?
The Gold Card visa would grant immediate U.S. permanent residency to applicants who invest $5 million, without requiring them to create American jobs—a major departure from the EB-5 program, which mandates a minimum $800,000 investment and the creation of at least 10 full-time jobs.
According to U.S. Commerce Secretary Howard Lutnick, the new visa would offer affluent global entrepreneurs "a fast-track into the American economy" and includes benefits such as:
Instant green-card equivalent status
- No job creation requirement
- Optional U.S. tax planning
- No inheritance tax on U.S. assets
- A potential path to U.S. citizenship
US-India Strategic Partnership Forum (USISPF) Leadership Summit 2025, Lutnick said the program could generate billions in revenue, estimating that 200,000 investors could raise $1 trillion. Trump, meanwhile, suggested the program could sell 10 million cards, raising up to $50 trillion.
India and Middle East Interest
Speaking at the US-India Strategic Partnership Forum 2025, Lutnick applauded Indian entrepreneurs as "smart, thoughtful, and highly educated," emphasizing the potential for the Gold Card to be particularly successful in India. Reports also suggest that several cards have already been purchased across the Middle East, signaling strong regional interest.
Website Launch and Waitlist
On June 11, Trump officially launched the Gold Card website, trumpcard.gov, where interested applicants can now register and join a waiting list. The announcement came amid domestic tensions over immigration enforcement, suggesting a strategic pivot to attract wealthy immigrants as economic contributors.
Legal Hurdles Ahead
Despite its appeal, legal experts caution that the President cannot unilaterally replace or bypass Congress on immigration policy. The EB-5 program, reauthorized through 2027 under the EB-5 Reform and Integrity Act of 2022, remains in effect unless formally amended by Congress.
"From its inception, the EB-5 program has been legislated by Congress," said Piyush Gupta, VP at CanAm Enterprises.
"Any changes would require congressional approval."
The American International Lawyers Association echoed this sentiment, warning in a recent blog post that the President lacks the authority to terminate or replace the EB-5 program without new legislation.
Balancing Policy and Revenue
Trump has framed the Gold Card as a fiscally strategic initiative—a way to tackle the U.S. federal deficit while boosting the economy through high-net-worth immigration. However, the program's legality remains in question, and critics argue that bypassing standard immigration channels may set problematic precedents.
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