President Donald Trump’s plan to introduce a $5 million “gold card” for U.S. residency could become one of the nation’s most exclusive immigration pathways. This high-price visa would offer affluent foreign investors a permanent residency option and a clear route to citizenship, but it also includes a key incentive—a tax exemption on overseas income—setting it apart from standard U.S. taxpayer obligations.
A High-Demand Investment Visa
Trump’s announcement this week outlined the new visa as an alternative for wealthy individuals seeking U.S. residency through investment. Immigration advisors report strong early interest, with legal firms already receiving inquiries from potential applicants. According to Dominic Volek, head of private clients at Henley & Partners, the U.S. remains an attractive destination for global wealth accumulation.
Industry insiders suggest that this program could significantly alter migration patterns among high-net-worth individuals. Analysts estimate that approximately 135,000 millionaires will relocate internationally in 2025, with the UAE and the U.S. being top destinations.
Exclusive Tax Benefits for Gold Card Holders
A standout feature of the program is its tax exemption for foreign income. Unlike current U.S. residents and green-card holders, who are taxed on both domestic and global earnings, gold-card holders would be shielded from U.S. taxation on wealth generated abroad. Legal experts note that this provision could create a new class of taxpayers with distinct financial advantages.
“This would be a major shift in U.S. tax policy,” said immigration attorney Laura Foote Reiff. “It could encourage more high-net-worth individuals to consider U.S. residency, avoiding tax liabilities tied to worldwide income.”
Critics argue that this measure may create inequitable tax treatment between U.S. citizens and wealthy immigrants, while supporters claim it will attract capital and spur economic growth.
How It Compares to Other Global Residency Programs
Many countries offer investment visa programs, but most require far lower financial commitments. For example, Singapore’s Global Investor Program mandates an investment of approximately $7.5 million, while New Zealand’s highest-tier residency visa requires $5.7 million. Most other residency-by-investment programs globally fall below the $1 million mark.
At $5 million, Trump’s gold card positions itself as one of the priciest investment visas available, yet the tax incentive could make it particularly appealing to ultra-high-net-worth individuals.
Replacing the EB-5 Program
This initiative would replace the EB-5 program, which currently grants green cards in exchange for investments of at least $900,000 or $1.8 million. The EB-5 program has faced delays and regulatory challenges, prompting calls for reform. Trump and Commerce Secretary Howard Lutnick argue that the new gold card structure will streamline access for wealthy investors while maintaining high financial thresholds.
The EB-5 visa has been particularly popular among Chinese investors, who accounted for two-thirds of the 12,000 visas issued last year. Despite Trump’s projection that the U.S. could sell one million gold cards, legal specialists believe actual demand will be significantly lower.
Economic and Immigration Implications
The tax advantage embedded in the gold card proposal could reshape the way affluent individuals approach U.S. residency. Historically, global entrepreneurs have avoided U.S. permanent residency due to worldwide tax obligations. By excluding foreign earnings from taxation, the gold card makes U.S. residency a more attractive proposition for international investors.
Trump expects that aside from billionaires, major U.S. tech firms will also leverage this program to recruit top talent from nations like India and China. With existing visa quotas limiting foreign skilled worker inflows, a premium investment residency option could prove beneficial to multinational corporations.
While details of the policy remain under refinement, its potential economic impact and tax benefits could make it one of the most controversial and sought-after investment visas in U.S. history.
