Commerce Secretary Howard Lutnick has revealed that the official website for the Gold Card visa program, named “trumpcard.gov,” is expected to launch in the coming weeks. The site will initially allow interested individuals to register for information on purchasing the card, Lutnick said.
This proposed Gold Card program aims to provide a pathway to citizenship for wealthy individuals globally who wants to purchase the card for $5 million.
His announcement follows a recent tweet from tech billionaire Elon Musk, suggesting that the U.S. government is conducting a “quiet trial” of the new visa. Allegedly, these trials are being carried out to ensure the smooth operation and effectiveness of the program before its official launch.
What is the U.S. Gold Card?
The Gold Card was first announced by President Trump in February as an alternative to the existing EB-5 Immigrant Investor Program.
By establishing the investment threshold at $5 million, the Trump Administration aims to attract individuals capable of making significant economic contributions to the country. Since its announcement, the administration has predicted that if one million investors participated, it could generate $5 trillion for the U.S. The President has also mentioned the possibility of offering the card to ten million people, potentially raising $50 trillion for the U.S. government. The plan involves using $36 trillion to eliminate the current outstanding U.S. Treasury debt and allocating the remaining for other purposes.
Among the features of the new visa program is an expected taxation system that would only charge income generated within the U.S., a feature that the current EB-5 program lacks.
How will the Gold Card impact the EB-5 visa program?
President Trump’s proposal for a $5 million Gold Card visa has sparked debate regarding its potential impact on the existing EB-5 visa. While initial government statements suggested that the card would replace the investor visa, subsequent discussions have introduced the possibility for both programs to coexist.
EB-5 specialists argue that the two programs serve different investor groups, and industry professionals assert that the Trump Administration cannot eliminate the current EB-5 program without Congressional approval. The EB-5 program is expected to remain operational until September 2027, as established in the reauthorization through the Reform and Integrity Act of 2022 (RIA).
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