US President Donald Trump launched the Gold Card visa program on June 12, 2025, opening a waitlist on trumpcard.gov for foreigners investing $5 million to gain permanent residency and a path to citizenship. Announced in February, the program replaces the EB-5 visa, which requires $1.05 million or $800,000 investments in job creating businesses. Trump touted the card, featuring his image, as a “sophisticated green card” to attract wealthy investors, with proceeds aimed at reducing the $36.2 trillion national debt. Commerce Secretary Howard Lutnick hailed it as a transformative opportunity. Applicants submit basic details online, with vetting promised but unspecified.

However, the program faces legal hurdles. Immigration experts and lawmakers argue it requires Congressional approval, which Trump claims is unnecessary. The US State Department warns of potential rejection by the White House budget office or courts, citing the $5 million fee’s conflict with legal precedents. Critics highlight risks of fraud and unverified funds, fueling debate.