5 million metallic “Trump Gold Card” that grants residency privileges to affluent foreign investors. The move comes amid market turmoil triggered by his simultaneous tariff announcements.
Key Features of the Plan
- Elite Benefits: Cardholders gain residency rights with tax exemptions on foreign income—a perk unmatched by standard green cards
- Rapid Sales: Commerce Secretary Howard Lutnick claims 1,000 cards sold in one week, generating $5 billion in a single day
- EB-5 Replacement: Supersedes the backlogged EB-5 investor visa program, which currently requires 800K–1.05M investments
Controversial Details
- Trump Branding: The card prominently features Trump’s image, blurring lines between policy and personal branding
- Fast-Tracked: Requires no congressional approval, raising legal and ethical questions about executive overreach
- Vetting Claims: Lutnick insists applicants will be “world-class citizens,” though financial capacity appears the primary criterion
Economic Context
The reveal coincided with stock market plunges following Trump’s sweeping tariffs. Deflecting criticism, Trump likened the U.S. economy to “a sick patient” in recovery, asserting: “We have trillions committed to come in.”
Critics Warn Of…
- “Pay-to-Play” Residency: Critics decry the scheme as privileging wealth over merit or humanitarian needs
- Tax Loopholes: Exempting foreign income may attract tax-avoidant elites
- Precedent Risk: Could incentivize future monetization of citizenship rights
The administration plans to redirect proceeds toward deficit reduction—a claim skeptics question given Trump’s record of ballooning national debt.
Reality Check: While marketed as innovative, the plan echoes existing “golden visa” programs in Europe, albeit at 5x the price. Legal challenges may loom over its unilateral implementation.
