Trump's Gold Card: A New Twist on Investment Immigration Programs

President Trump's "gold card" is a new investment visa program that offers a path to residency and citizenship for foreign investors. This is not a new concept, as the US has had investment visas since the early 20th century. Other countries, such as Portugal and Malta, also offer similar programs. However, some countries, like New Zealand, have shut down their programs. The market can determine the right price of immigration, according to the Cato Institute's Alex Nowrasteh.

President Donald Trump's latest initiative, the "Gold Card" investment visa program, is set to revolutionize the burgeoning market for investment or "golden" visas. This program, which offers a path to residency and citizenship for foreign investors, is not a new concept; the U.S. has had investment visas since the early 20th century. However, the Trump Card, as it is now known, presents a unique twist with its $5 million price tag and the promise of significant tax benefits [1].

The Trump Card has already generated considerable interest among the overseas wealthy, with Commerce Secretary Howard Lutnick reporting that 70,000 people had already signed up [1]. The program is particularly appealing to those from China and the Middle East, where the demand is expected to be the highest [1]. The idea of a golden visa program has also been embraced by other countries, such as Portugal and Malta, which offer similar programs [2].

However, the Trump Card faces several challenges. Legal and tax obstacles are significant hurdles, with immigration attorneys and advisors to the wealthy questioning the program's feasibility and potential market size [1]. The U.S. is one of the few countries that taxes worldwide income, which could limit the appeal of the Trump Card for wealthy foreigners [1].

Moreover, the Trump administration has yet to provide clear details on the program's specific terms, including whether the $5 million card covers a family or just an individual, and whether Trump Card holders would be exempt from estate and gift taxes [1]. These uncertainties have led many advisors to recommend a wait-and-see approach for their high-net-worth clients.

The market for immigration is complex and ever-evolving. While some countries, like New Zealand, have shut down their investment visa programs, others continue to thrive. The Cato Institute's Alex Nowrasteh argues that the market should determine the right price of immigration, rather than government intervention [2].

Ultimately, the success of the Trump Card will depend on its specific terms, the legal and tax challenges it faces, and the demand from the overseas wealthy. As the program continues to evolve, it will be crucial for investors and financial professionals to stay informed and adapt their strategies accordingly.

References:
[1] https://www.cnbc.com/2025/06/26/trump-card-overseas-wealthy.html
[2] https://www.marketscreener.com/news/latest/The-Price-of-Trump-s-Gold-Card-and-Where-Else-You-Can-Live-50375135/