On February 2025, U.S president Donald Trump announced his intention to establish a new immigration category, aimed at high net-worth foreign investors.[4] Trump corresponded with Secretary of Commerce, Howard Lutnick, regarding the details of the program, and the possibility that the fees generated from the Trump Gold Card program can be utilized to pay off the national debt of the United States.[5] This new immigrant category would be established to replace the existing EB-5 immigrant category[6], which requires prospective applicants to finance and invest substantially to a U.S. based business, and demonstrate that a minimum of ten jobs were created in the process.
On June 12, 2025, Trump posted on Truth Social that "more than fifteen thousand have signed up and joined the Waiting List."[7] By June 16, Commerce Secretary Howard Lutnick announced that almost 70,000 people had joined the waitlist.[8]
On September 19, 2025, Trump signed Executive Order 14351, officially permitting the program to be established.[9]
Eligibility
All applicants to the Trump Gold Card program are vetted by the U.S Department of Homeland Security. Applicants must be currently admissible to the United States, and demonstrate that they have not committed a crime of moral turpitude.
Trump Gold Card
The Trump Gold Card allows prospective investors automatic eligibility for EB-1 or EB-2 immigrant visas[1] and pathway for U.S lawful permanent resident status, following a US$1 million donation to the U.S Federal government.
Trump Corporate Gold Card
The Trump Corporate Gold Card permits employers to sponsor one or more employees, following a US$2 million donation to the U.S Federal government. The Trump Corporate Gold Card allows employers to sponsor more employees
Platinum Card
The prospective Trump Platinum Card permits investors a visitor visa that allows them to visit the United States for up to 270 days per year without being liable to the Substantial Presence Test, and therefor not being liable for federal income tax on income earned outside the U.S.[10] Applicants must submit a US$5 million donation.[10]
The September 2025 executive order did not mention the Platinum Card.[2] There are constitutional questions about the executive authority for this kind of change[clarification needed] to immigration and tax law without express approval from the U.S. Congress. It is unclear what would happen to the U.S. federal taxability of a Platinum Card holder's non-U.S. income if the holder becomes a U.S. citizen.[11][12][13][14][15][16][17][18][excessive citations]
Criticism
Policy experts have argued that similar programs have been attempted in other countries, such as Spain, Malta, and the United Kingdom, but have been ended due to concerns on increased housing costs, issues of national security, and money laundering.[19]
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