As debates around immigration intensify in the U.S., former President Donald Trump has introduced a bold and controversial new path to American citizenship: the $5 million “Gold Card.” Positioned as an ultra-exclusive alternative to the traditional EB-5 visa, this proposal promises swift U.S. residency and a pathway to citizenship—without the usual job creation requirements.
Key Highlights:
Commerce Secretary Howard Lutnick recently revealed on the All-In Podcast that the initiative was born from a meeting between Trump and investor John Paulson. Elon Musk, reportedly, is developing the tech backbone of the project. “There are 37 million people in the world who are capable of buying the card,” Lutnick said. “The president thinks we can sell a million.”
Lutnick even claimed that “1,000 Gold Cards are sold daily,” though official records supporting this figure have not yet been released.
A High-Price Shortcut to U.S. Citizenship
Unlike the EB-5 visa, which requires a $1.05 million investment (or $800,000 in Targeted Employment Areas) and the creation of at least 10 full-time U.S. jobs, Trump’s Gold Card offers immediate green card benefits for a direct $5 million payment to the government. There are:
- No job creation mandates
- No regional investment targeting
- No annual cap on visas issued
Buyers would gain indefinite residency and the option for citizenship, though many may avoid full citizenship to sidestep U.S. global tax obligations.
The Malta Golden Visa Comparison
Immigration analysts quickly drew parallels with Malta’s Golden Visa program, a well-known residency-by-investment path in Europe. Malta’s model typically requires a combination of government contributions, property investments, and donations, often totaling under €1 million—far more accessible than Trump’s $5 million flat fee.
While Malta’s Golden Visa offers access to the EU, it includes rigorous due diligence, structured timelines, and capped approvals. Trump’s plan, on the other hand, is designed to be fast, uncapped, and tailored specifically for ultra-high-net-worth individuals (UHNWIs).
Global Billionaires Remain Unmoved
Despite the program’s ambitions, it has received a lukewarm reception among the global elite. According to Forbes, 13 out of 18 billionaires interviewed showed no interest. One Canadian billionaire said, “If you’re a billionaire, you don’t need it.”
Russian and Indian tycoons echoed the sentiment. Abhay Soi, chairman of India’s second-largest hospital chain, remarked, “I wouldn’t want to be a citizen of any country other than India anytime—particularly in this century.”
This sentiment casts doubt on Trump’s claim of daily sales in the thousands, raising questions about the actual target audience and their interest in such a program.
Policy Implications and Criticism
Malta Golden Visa vs Trump’s $5M “Gold Card”: Stunning New Citizenship Scheme Sparks Global Backlash
The Gold Card announcement comes at a time when Trump’s administration is increasing crackdowns on undocumented immigrants. Critics argue that selling citizenship while tightening borders sends a conflicting message.
Furthermore, immigration experts warn that removing job creation requirements undermines the economic goals of traditional investor visas. The EB-5 visa, though complex and slow, channels funds into job-generating projects that benefit the broader U.S. economy.
In contrast, Trump’s Gold Card is purely transactional—with no stipulations beyond payment.
Tech Meets Politics: Elon Musk’s Involvement
Adding another layer of intrigue, Howard Lutnick mentioned that Elon Musk is building the software to support the Gold Card infrastructure. While details are scarce, Musk’s involvement suggests a digital-first approach to processing and securing applicant data, possibly using blockchain or advanced verification systems.
However, Musk has not publicly commented on his participation.
What’s Next for Global Citizenship Programs?
The launch of Trump’s Gold Card adds fuel to an already competitive global market for investor visas. Countries like Portugal, Malta, and Greece offer cost-effective golden visa programs with tangible lifestyle benefits, making Trump’s offering seem disproportionately expensive.
Still, for UHNWIs who want quick access to the U.S., it could offer a shortcut—provided they find value in the $5 million price tag.
Trump’s Gold Card vs Malta Golden Visa—What’s the Future?
The debate around malta, Golden Visa, trump reveals deeper tensions in global migration policy. While Trump’s Gold Card aims to disrupt the traditional EB-5 system with speed and simplicity, it faces resistance from its presumed target audience. The Malta Golden Visa remains a more balanced option for many, combining reasonable investment thresholds with EU access.
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