In past months, discussion has intensified around the proposed “Gold Card” visa program, unveiled by Secretary of Commerce Lutnick alongside President Donald Trump. While details remain unofficial, enough information has emerged to offer early insight into how this initiative might unfold, particularly in relation to the EB-5 Immigrant Investor Program.
Trump Gold Card Program Explained:
A High-Value Visa with Strategic Incentives
Based on initial announcements, the Gold Card visa would require a $5 million payment to the U.S. government, with funds directed toward paying down the national debt. Unlike EB-5, this would not be a capital investment into a business or job-creating enterprise. Instead, it would function more like a contribution or fee-based pathway to U.S. residency.
One of the most striking features discussed is an exemption from worldwide income taxation for Gold Card holders. For many high-net-worth individuals, this would be a significant advantage when compared to current U.S. tax obligations under other residency-based visa programs.
Not a Replacement, But a Potential Companion to EB-5
Early reports suggested that the Gold Card might replace EB-5, but those concerns were quickly addressed. Secretary Lutnick clarified that the new program is expected to work alongside EB-5, not in place of it. This opens the possibility that the two programs could be linked administratively or procedurally—perhaps even sharing USCIS infrastructure or legal frameworks.
In this scenario, the Gold Card might be built as a premium-tier pathway under the EB-5 umbrella, maintaining EB-5’s job creation requirement while offering additional benefits for a higher fee.
Moving Forward Without Congress?
Launching a new visa program typically requires congressional approval, especially when visa caps or tax rules are involved. However, recent remarks from Secretary Lutnick suggest the administration may be pursuing an executive pathway instead.
Lutnick stated in a podcast that 1,000 Gold Cards had already been “sold”—an odd phrasing, considering the program is not yet official. This implies a high level of readiness and urgency. Additionally, Elon Musk has reportedly been involved in developing AI tools to streamline background checks, pointing to a fast-track infrastructure already in development.
If the administration intends to avoid legislative hurdles, integrating the Gold Card into existing programs—like EB-5—could be a practical workaround.
Visa Caps, Stakeholders, and Potential Conflicts
A major concern is how this new visa category might affect EB-5 investors. The EB-5 program is currently capped at 10,000 visas per year. Due to derivative family members, this results in about 3,000 investor spots annually. Any perception that Gold Card participants are consuming limited EB-5 visas could trigger resistance or even legal challenges from EB-5 stakeholders.
To avoid conflict, the administration could position the Gold Card as an add-on to EB-5, rather than a separate track competing for the same visa pool. This structure might also allow for new benefits such as expedited processing—something EB-5 currently lacks but is already available in other visa categories.
Addressing Backlogs with Structural Fixes
The backlog in EB-5 visas, particularly for investors from India and China, remains a significant issue. Two potential policy changes could ease this pressure:
- Excluding Derivatives from the Visa Cap: Currently, each family member counts against the annual visa cap. Removing this limitation could immediately increase investor visa availability.
- Expanding Rollover Capacity: At present, unused EB-5 visas can roll over for only two years. Allowing unused visas from past decades to roll forward could unlock tens—or even hundreds—of—thousands of additional visas. This mechanism is used in other immigration categories and would not be unprecedented.
Strategic Implications for U.S. Immigration Policy
The Gold Card proposal reflects a growing effort to attract global wealth and top-tier talent to the U.S. while addressing fiscal and economic goals. If designed correctly, it could not only complement EB-5 but also enhance its visibility and policy relevance.
The coming months will reveal more details about how the program will be structured, how it might interact with existing visa categories, and whether it will withstand legal or political scrutiny. For now, it represents one of the most notable developments in U.S. immigration policy in years—and one that could reshape the landscape for global investors.
