Trump’s Long-Awaited “Gold Card” Visa Program Goes Live

Donald Trump’s administration talked about a “gold card” visa program going back to his second term. On Wednesday, it finally sprang to life.

Trump launched the immigration pathway program on Wednesday, CNN reported. The visa website went live with a portal for applications and the promise of “residency in record time.”

Foreigners can contribute $1 million — along with a hefty application fee — to speed up their visa applications. Additionally, companies can contribute $2 million to sponsor a foreign worker to move to the United States.

Commerce Secretary Howard Lutnick said on Fox News that the program would lead to “the best people coming in; they’re economically capable of driving our economy.”

The original discussion around the gold card revolved around a higher contribution: $5 million. That price point is now attached to the “Trump Platinum Card,” which would grant successful applicants “up to 270 days in the United States without being subject to U.S. taxes on non-U.S. income.”

There’s a waiting list, but that program does not yet operate.

It’s unclear how the launch of the gold card program impacts existing visa programs, particularly EB-5, a favorite tool among the real estate crowd. The administration previously promised to modify EB-5, but immigration law experts say that would require an act of Congress.

Months ago, it was unclear if the gold card program could even come to fruition due to those legal restraints. The Supreme Court has established that Congress holds “plenary power” over immigration policy. Congress has not altered visa categories in 35 years and has shown little interest in creating new residency pathways.

Trump and Lutnick have long eyed the gold card as a solution for helping wealthy foreigners obtain residency. Trump even flashed a laminated golden prototype aboard Air Force One in April, promising availability within two weeks. Eight months later, it’s here.

The existing EB-5 investor visa requires between $800,000 and $1.05 million worth of investments and job creation. They are allocated to 10,000 foreigners annually.

The program, once referred to as the “crack cocaine of real estate financing,” raised $4 billion last year but has faced fraud allegations, including misrepresentation of investment opportunities and misallocated investor funds.

— Holden Walter-Warner