This article originally appeared in The Dispatch on March 14, 2025.
Touted as a way to raise revenue, a “gold card” visa program announced by President Donald Trump last month would require a $5 million payment in exchange for permanent residency and a pathway to citizenship.
While the astronomical price tag is the most eye-catching aspect of the proposal, it diverges from similar offerings like the EB-5 investor visa in that the fee can be paid on behalf of somebody else and would also seemingly exempt recipients from having to pay taxes on income earned overseas.
The gold card’s primary purpose is to create a new revenue stream large enough to offset the estimated $4.5 trillion increase in new deficits under the administration’s proposed budget. Trump has set an ambitious goal to sell 1 million gold cards, which would generate $5 trillion for the government.
Apart from the fiscal benefits, during his March 4 address to Congress, Trump also touted the gold card as a way to ensure the U.S. attracts and retains wealthy immigrants despite the administration’s sweeping crackdown on illegal immigration.
While details are sparse ahead of a tentative launch date in March, the information that is available bodes poorly for the gold card’s chances of successful and speedy implementation.