Donald Trump’s Gold Card visa needs an individual to pay straight $5 million to get US citizenship while the administration is concentrating on sweeping the ‘illegal’ ones out. While the program triggered discussions on whether it is too expensive for US citizenship, commerce secretary Howard Lutnick said he sold 1,000 Gold Cards a day. “There are 37 million people in the world who are capable of buying the card… The president thinks we can sell a million,” Lutnick said speaking on All-In Podcast.
Lutnick said Trump got the idea of the Gold Card during a meeting he had with investor John Paulson. Lutnick was then taken in the loop to figure out how to do it. Elon Musk is building the software, Lutnick said.
On why anyone should buy the Gold Card, Lutnick said had he not been an American, he would have bought six Gold Cards, one for him, one for his wife and other family members — so that if something happens like war or any other crisis, he could have come to the US and start afresh — starting a new business.
Lutnick elaborated that the Gold Card would replace the traditional green card, granting holders permanent US residency. While cardholders could pursue citizenship, he suggested most would opt against it to avoid US global taxation. Priced at $5 million each, the cards would offer the right to live in the US indefinitely.
What is US Gold Card?
Prices at $5 million, the Gold Card program would replace the EB-5 immigrant investor visa program. EB-5s were created in 1990 as a method for immigrants to obtain green cards in which a person must invest at least $1 million in a company āor $800k in a low-income area ā that employs at least 10 people. In 2024, more than 4,500 EB-5 visas were issued.
Trump said there would be no cap on the number of gold cards issued.
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