President Donald Trump’s proposed $5 million “gold card” visa for U.S. residency is gaining attention as one of the most expensive investment migration options in the world. However, what’s drawing even more scrutiny is a significant tax loophole baked into the proposal—offering elite investors a financial break not available to American citizens.
Exclusive Tax Benefits for Gold Card Holders
According to Trump, holders of this elite visa would not be required to pay taxes on their foreign income. Currently, U.S. citizens and permanent residents are taxed on worldwide earnings, making residency less appealing to global business titans. This exemption would create a unique dual-class tax system, benefiting high-net-worth individuals who use international tax shelters.
High Demand Among Global Investors
With many countries offering investor visas at a fraction of this cost, Trump’s $5 million buy-in may seem steep. Yet, experts anticipate strong demand. According to Henley & Partners, approximately 135,000 millionaires are projected to relocate globally in 2025, with the U.S. ranked among the top destinations.
Investment migration specialists have already reported a surge in inquiries regarding the gold card program. Singapore, New Zealand, and the United Arab Emirates have popular investment visa programs, but many ultra-wealthy individuals still see the U.S. as a prime target for private wealth accumulation.
Comparison to Existing EB-5 Visa Program
The gold card would replace the current EB-5 investor visa program, which grants U.S. residency in exchange for a minimum investment of $900,000 to $1.8 million in job-creating projects. The EB-5 program has long faced backlogs and fraud concerns, making the gold card an appealing alternative for affluent investors seeking a streamlined process.
China Remains Top Source of Investor Visa Demand
Historically, Chinese nationals dominate the investor visa market, and the gold card is expected to attract significant interest from China, India, and other nations with high-net-worth populations. In 2024 alone, the U.S. issued over 12,000 EB-5 visas, with Chinese applicants making up the majority.
Concerns Over Tax Policy and Fairness
While the gold card could generate substantial revenue, critics argue that it creates an unfair tax system favoring the ultra-wealthy at the expense of everyday Americans. Immigration experts caution that granting tax exemptions to investor visa holders while imposing stricter tax requirements on citizens could spark legal challenges and policy debates.
At a recent press conference, Trump emphasized the program’s ability to attract top talent and business leaders, positioning it as a win for the U.S. economy. “This is a bargain for what people are getting,” he stated.
As details continue to emerge, legal experts and tax advisors are closely watching how the administration implements this policy and whether Congress moves to revise or challenge the framework. The gold card program could shape the future of U.S. immigration—and taxation—for years to come.
