The Trump administration has unveiled a new immigration program for wealthy foreigners—the Trump Gold Card—which has already been dubbed the world’s most expensive “golden visa.” U.S. officials promise a faster path to U.S. residency in exchange for multi-million-dollar contributions, but lawyers and investors are taking a rather cautious view of the initiative. Learn more about how Trump’s “gold card” works, why experts are criticizing it, and whether the program has a chance of becoming popular among global millionaires

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In the U.S., there is renewed talk of selling residency rights to wealthy foreigners. In the spring of 2026, Donald Trump and his team unveiled a new immigration initiative—the Trump Gold Card, or the so-called “Trump Gold Visa.” The program is positioned as a premium alternative to the classic EB-5 investor visa, but with a much higher entry threshold and a simplified procedure for obtaining resident status.

According to the authors’ plan, the new system is intended to attract ultra-high-net-worth investors, entrepreneurs, and owners of international businesses to the U.S. U.S. Secretary of Commerce Howard Lutnick stated that the country could sell hundreds of thousands of such cards and bring billions of dollars into the American economy. At the same time, many immigration lawyers, financial advisors, and potential applicants are not yet ready to invest in the program due to legal uncertainty, political risks, and the lack of clear guarantees.

And although “golden visas” have long existed in Europe, the Caribbean, and the Middle East, the American version has sparked much more debate. Some experts directly call the project a political experiment that could face lawsuits or even be scrapped after a change in the White House administration.

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What is the Trump Gold Visa?

The idea of the Trump Gold Card emerged as part of Donald Trump’s new immigration policy aimed at attracting wealthy foreigners to the U.S. The program was presented in the spring of 2026 as a “premium” pathway to U.S. residency for people willing to invest large sums in the country’s economy.

In essence, this is a new type of investment visa that the Trump administration positions as a faster and simpler alternative to the traditional EB-5 program. In public speeches, the Trump team even referred to it as a “green card on steroids,” meaning a significantly enhanced version of the classic green card for investors.

The program’s main feature is an extremely high financial threshold. While the standard EB-5 requires investments of at least $800,000 in specific job-creating projects, the Trump Gold Card is aimed exclusively at ultra-high-net-worth individuals—multimillionaires and major international businesspeople.

The White House states that the new system is intended to:

- Attract additional capital to the U.S. economy;

- Reduce bureaucracy for wealthy applicants;

- Create a separate “elite” immigration channel;

- Help reduce the budget deficit through investor contributions.

However, the program remains quite controversial. Critics point out that there is currently no separate, fully-fledged “Trump Gold Card” category in U.S. law, and therefore some lawyers doubt whether the administration can launch it without congressional approval.

Another source of debate is the very concept of “selling” access to residency in the U.S.

Similar programs have long existed in Portugal, the UAE, Greece, and Malta, but in the U.S., the topic of immigration traditionally remains politically sensitive, especially during a presidential campaign.

In our previous article, we discussed the new rules for obtaining a Green Card in the U.S. in 2026.

What are the program’s terms and requirements?

Despite the active promotion of the Trump Gold Card, the U.S. administration has not yet published a complete official set of rules and procedures. This is precisely one of the main reasons for the cautious attitude among investors and immigration consultants. However, statements from representatives of Trump’s team already provide insight into the main requirements of the future program.

The amount of the contribution has attracted the most attention. According to preliminary data, to obtain a Trump Gold Card, an applicant will need to contribute approximately $1 million or more. This is not a traditional investment with the possibility of a return on funds, but rather a one-time contribution for the right to obtain privileged immigration status.

Unlike the EB-5 program, where an investor puts money into business projects and job creation, the Trump Gold Card mechanism appears much simpler, but also less advantageous for the applicant. Some experts are already comparing the model to a “donation to the state” in exchange for access to U.S. residency.

Preliminary details of the program also include:

- Strict verification of the source of funds;

- A full background check of the applicant;

- A review of tax history;

- An analysis of international business ties;

- Enhanced security procedures.

Another important detail is that the Trump administration promises faster processing of applications compared to traditional investment visas. It is precisely this speed and reduction in bureaucracy that are being positioned as one of the program’s main advantages for wealthy migrants who do not want to wait years for an immigration decision.

At the same time, it remains unclear exactly what rights Trump Gold Card holders will receive. Some lawyers believe the program may only grant the right to long-term residency, rather than an automatic path to U.S. citizenship. Due to the lack of a final legislative framework, potential investors currently have no clear guarantees regarding their future status.

It is also unclear whether applicants will be able to include family members—spouses and children—in their applications, as is the case with most global “golden visa” programs. For many wealthy families, family-based immigration is one of the key factors when choosing a country for relocation.

About the H-1B visa to the United States, one of the most popular ways to obtain legal employment, we talked about in our previous article.

How does Trump’s “golden visa” differ from other investment programs?

The global investment immigration market has long been highly competitive. Wealthy investors can choose from dozens of programs in Europe, the Caribbean, the UAE, or Singapore. That is why many experts immediately began comparing the Trump Gold Card with existing “golden visas” and looking for its real competitive advantages.

Most often, the new U.S. program is compared to the American EB-5. However, there is a fundamental difference between them. In the case of EB-5, the investor puts money into a specific business or development project, and the investment can potentially be recouped in a few years. The Trump Gold Card, on the other hand, is more like a fee for access to residency without a mechanism for recouping funds.

For many wealthy migrants, this seems less attractive, as the investor is effectively spending a significant sum without a guarantee of financial return. That is why some consultants are already calling the program “the most expensive golden visa in the world.”

Another issue is competition from Europe and the Middle East. For example:

- In Greece, you can obtain a residence permit by purchasing real estate;

- In the UAE, there are long-term Golden Visas for investors and entrepreneurs;

- In Malta and some Caribbean countries, there are citizenship-by-investment programs;

- In Portugal, following reforms, certain investment pathways through funds and business remain.

In most such programs, the rules are already well understood by the market, and the procedures have been in place for years. Investors know the processing times, tax conditions, family requirements, and risks of rejection. In the case of the Trump Gold Card, many aspects remain unclear.

Furthermore, other countries are actively competing not only for investors’ money but also for their lifestyle. The UAE offers low taxes, Portugal offers access to the EU, and Caribbean countries offer quick acquisition of a second passport. The U.S., on the other hand, offers a complex tax system, strict financial oversight, and the political unpredictability of immigration policy.

That is precisely why some international consultants believe that the “American Dream” itself is no longer a sufficient argument for ultra-rich investors, especially when there are cheaper and more predictable alternatives on the market.

Earlier, we reported that the United States has already suspended the issuance of immigration visas for 75 countries.

Why are investors not rushing to apply?

Despite the high-profile statements from Donald Trump’s team, there has not yet been widespread interest in the Trump Gold Card. Immigration lawyers in the U.S. note that potential clients are actively interested in the program but are not ready to transfer large sums due to the excessively high level of uncertainty.

One of the main reasons is the lack of a clear legal framework. Many experts emphasize that the presidential administration cannot unilaterally create a new immigration category without congressional involvement. That is why some lawyers doubt that the Trump Gold Card will ever function in the format currently being promoted by the Trump team.

Investors are also concerned about political risk. Even if the program is officially launched, there are no guarantees that it will continue to exist after the next change in administration in the U.S. For people planning relocation, international business, or tax residency for years to come, such instability is a serious risk factor.

Another problem is the lack of clear guarantees regarding the outcome. So far, the Trump administration has not explained:

- What specific rights a Gold Card holder will receive;

- Whether the path to citizenship will be automatic;

- How status renewal will work;

- Whether residency can be lost;

- What grounds may lead to denial.

By the way, in our previous article, we talked in detail about the new US citizenship test in 2026.

Critics of the program also point to its excessively high cost.

There are many alternative programs worldwide with lower entry thresholds and clearer rules. Some investors see no point in paying millions of dollars just for the right to apply for U.S. residency without clear legal guarantees.

The U.S. tax system is also a cause for concern. Unlike most popular “golden visas,” U.S. residency can create a significant global tax burden. For ultra-high-net-worth individuals, this often becomes one of the key factors when choosing a country to relocate to.

Some immigration attorneys also fear potential lawsuits against the program. If the courts rule that the administration exceeded its authority, investors could find themselves in a situation where their status becomes legally disputable. That is why many consultants advise clients not to rush and to wait for the final rules and the first practical cases.

What is the Visa Bond programme in the United States 2026 — read here.

How many people are actually interested in the program?

From the very beginning, the Trump administration has made very ambitious statements regarding the potential success of the Trump Gold Card. U.S. Secretary of Commerce Howard Lutnick spoke of the possibility of selling hundreds of thousands of “gold cards,” and Trump himself claimed that the program could bring tens of billions of dollars to the U.S. economy.

However, the actual figures so far look much more modest. According to U.S. media and immigration lawyers, interest in the program did indeed grow after its presentation, but mainly at the level of consultations and preliminary inquiries. Most potential clients are not ready to move on to the stage of actual payments or filing paperwork.

Lawyers who work with wealthy migrants and international investors note that clients most often ask the same questions:

1. Is the program legal?

2. Will Congress approve it?

3. What guarantees are there for obtaining status?

4. Will it be possible to get a refund?

5. What will happen if there is a change in the U.S. administration?

It is precisely the lack of answers to these questions that is holding back demand. For ultra-rich investors, even large sums of money are not the main issue—legal stability, asset protection, and the predictability of rules remain far more important.

Some experts also note that the global market for “golden visas” has changed following the pandemic and the geopolitical crises of recent years. Wealthy individuals have become significantly more cautious about relocation and tax residency, while countries with political instability or unpredictable immigration rules have lost some of their appeal.

If you are planning to apply for a work visa, temporary employment abroad, or have questions about migration procedures, contacting a professional migration lawyer will help you avoid mistakes and unnecessary delays. Visit World specialists advise on the requirements of different countries, help prepare a package of documents, assess the chances of obtaining a visa, and accompany the application process at every stage: from choosing the grounds for entry to obtaining a permit for legal stay abroad.

We remind you! The United States has introduced new, stricter border crossing rules for non-US citizens. We discuss the new conditions for foreigners entering the US in 2026 here.

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