Trump's gold card: Wealthy immigrants with $5m can become a US resident
Wealthy immigrants can now purchase US residency for $5 million through a newly launched initiative known as the "Gold Card" or "Trump Card," unveiled by President Donald Trump.
The programme, which Trump introduced earlier this year, allows affluent individuals to live and work in the US, effectively replacing the existing EB-5 immigrant investor visa programme.
Trump promoted the card to reporters aboard Air Force One on Thursday, amid a sharp market downturn triggered by his global tariff announcement. Holding up the shiny, gold-embossed card featuring his face, he said: “For $5 million, this could be yours. You know what that card is? It’s the Gold Card, the Trump Card.”
When asked who the first buyer would be, Trump joked: “Me.” “The second?” a reporter asked. “I don’t know, but I’m the first buyer. It’ll be out in ... less than two weeks. Pretty exciting, right?”
Commerce Secretary Howard Lutnick confirmed last month that the government raised $5 billion in a single day through the sale of 1,000 Gold Cards. Cardholders will not be required to pay US taxes on income earned abroad, a feature that further distinguishes the programme from traditional residency paths. “Anybody want to buy one?” Trump asked reporters on board.
The announcement coincided with economic turbulence caused by Trump’s declaration of sweeping new tariffs on foreign goods, which he dubbed "Liberation Day." The S&P 500 dropped 4.8%, marking its worst day since 2020. Technology giants like Apple and Amazon saw even sharper declines, and global markets in Asia and Europe also reacted negatively.
Defending the move, Trump compared the economy to a critically ill patient undergoing treatment: “Well, I mean, it’s to be expected where this is a patient that was very sick. We really inherited a terrible economy … with a lot of problems. It’s gonna be a booming country ... It’s going to be amazing, actually. We see it because we have trillions of dollars committed to come in.”
Economists warn that the added costs of tariffs, paid by American importers, are likely to be passed on to consumers, potentially leading to inflation and reduced hiring.