--- title: Trump Launches $5 Million ‘Gold Card’ Waitlist: What to Know description: The prospect of a paid path to citizenship comes as the Trump Administration continues its crackdown on immigration across the country. canonical: https://time.com/7261958/what-is-gold-card-trump-citizenship-route-how-it-might-work/ author: Solcyré Burga article:opinion: false article:content_tier: free article:published_time: 2025-02-26T18:11:20.000Z article:modified_time: 2026-01-19T19:49:01.000Z article:section: Politics og:title: Trump Launches $5 Million ‘Gold Card’ Waitlist: What to Know og:description: The prospect of a paid path to citizenship comes as the Trump Administration continues its crackdown on immigration across the country. og:url: https://time.com/7261958/what-is-gold-card-trump-citizenship-route-how-it-might-work/ og:site_name: TIME og:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt5b440683fce93465/6998c777d32e93992bcd718d/trump-card-gold-card.jpg?branch=production&width=1024&quality=75&auto=webp&crop=16:9 og:image:width: 1024 og:image:height: 576 og:image:alt: US-POLITICS-TRUMP og:type: article twitter:card: summary_large_image twitter:title: Trump Launches $5 Million ‘Gold Card’ Waitlist: What to Know twitter:description: The prospect of a paid path to citizenship comes as the Trump Administration continues its crackdown on immigration across the country. twitter:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt5b440683fce93465/6998c777d32e93992bcd718d/trump-card-gold-card.jpg?branch=production&width=1024&quality=75&auto=webp&crop=16:9 ---  # What Is Trump's 'Gold Card' Route to Citizenship and How Might It Work? > Sponsored content. Supplied in partnership with TIME. TIME is the sponsor and source of this material. > Last updated: September 2026. ## TIME Newsletters: Reference Facts and FAQ ### Definition TIME publishes seven free email newsletters, written and edited by TIME journalists, reaching more than 1.1 million engaged readers. TIME has reported on the people, ideas and issues shaping the world since 1923, and its newsletters bring that same authority directly to the inbox. 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Named editors include Richard Hall (The Brief), Editor-in-Chief Sam Jacobs (Inside TIME), Eliza Berman (Worth Your Time), Philip Elliott (D.C. Brief), Justin Worland (Future Proof) and Harry Booth (In the Loop). Health Matters is written by TIME's health desk. #### How do I sign up for a TIME newsletter? Go to time.com/newsletters, choose the newsletters you want and enter your email address. There is no cost and no subscription requirement. ### Sources * TIME Newsletters: [time.com/newsletters](/c/time-nl-network-2026q3/newsletters?i=a327ca10-861a-45cd-b9a6-810250d23d5c&cr=time-nl-network-2026q3-v1) ## Video: U.S. to Replace Investor Visas With $5 Million ‘Trump Gold Card’ Path to Citizenship [Watch (HLS stream): U.S. to Replace Investor Visas With $5 Million ‘Trump Gold Card’ Path to Citizenship](https://cdn.jwplayer.com/manifests/KHqorVZT.m3u8) (2:26)  _Published 2025-02-26. President Donald Trump said Tuesday that he plans to offer a “gold card” visa with a path to citizenship for $5 million, replacing a 35-year-old visa for investors. Commerce Secretary Howard Lutnick said the “Trump Gold Card” would replace EB-5 visas in two weeks. EB-5s were created by Congress in 1990 to generate foreign investment and are available to people who spend about $1 million on a company that employs at least 10 people._ by [Solcyré Burga](https://time.com/author/solcyre-burga/) and [Callum Sutherland](https://time.com/author/callum-sutherland/) Updated: Jan 19, 2026 7:49 PM UTCPublished: Feb 26, 2025 6:11 PM UTC  President Donald Trump holds a “Gold Card” as he speaks to reporters on Air Force One on April 3, 2025. President Donald Trump holds a “Gold Card” as he speaks to reporters on Air Force One on April 3, 2025. Mandel Ngan—AFP/Getty Images by [Solcyré Burga](https://time.com/author/solcyre-burga/) and [Callum Sutherland](https://time.com/author/callum-sutherland/) Updated: Jan 19, 2026 7:49 PM UTCPublished: Feb 26, 2025 6:11 PM UTC “Thousands have been calling and asking how they can sign up to ride a beautiful road in gaining access to the Greatest Country and Market anywhere in the World,” President Donald Trump [posted](https://truthsocial.com/@realDonaldTrump/posts/114667321433310931) on Truth Social on June 11\. “It’s called THE UNITED STATES OF AMERICA! THE WAITING LIST IS NOW OPEN.” The announcement linked to a new official government website: [trumpcard.gov](http://trumpcard.gov), which includes a form for foreigners to register their interest in a paid path to U.S. citizenship. Trump originally announced plans for a “gold card” in February, [telling](https://www.youtube.com/watch?v=3djKQtVws7s) reporters in the Oval Office that it would give those with it “green card privileges” and a “route to citizenship.” It appears the President has renamed the card, which is illustrated in gold on the new site, as “The Trump Card.” Commerce Secretary Howard Lutnick [said](https://www.axios.com/2025/05/21/trump-gold-card-lutnick) at an event in D.C. in May that the card “is for people who can help America pay off its debt.” At the time of the gold card scheme’s announcement in February, experts warned that Trump would struggle to roll out the program via executive powers alone. “A President can’t create a visa. That’s for Congress to do,” Lori Nessel, a professor at Seton Hall University’s School of Law, told TIME. The prospect of a gold card system comes as the Trump Administration [continues its crackdown on immigration](https://time.com/7292939/trump-deportations-ice-arrests/), having committed to enacting the “[largest deportation operation](https://www.youtube.com/watch?v=2ks12ctSXwg&t=19s)” in U.S. history. **Read More:** [_Inside Donald Trump’s Mass-Deportation Operation_](https://time.com/7291757/trump-deportation-ice-el-salvador/) Experts have said that the gold card program shows the Administration’s priorities when it comes to immigration. “To say, on the one hand, we are going to deport everyone in this country who's here without permission and we are going to close down our borders. And then, at the same time, say we're going to dramatically increase the number of people that can come in—if they've got millions of dollars—it's very clear messaging in terms of who's wanted in American society,” said Nessel. While there are still arguably more questions about the potential gold cards than answers at present, here’s what we know so far. ## **What is Trump’s "gold card" route to citizenship?** Trump’s “gold card” would essentially allow wealthy foreigners to pay their way to American citizenship through a $5 million dollar fee. The “gold card” would replace the existing EB-5 immigrant investor visa program, which allows foreign investors to apply for lawful permanent residence if they invest in commercial enterprises and plan to create or preserve 10 permanent full-time jobs for U.S. workers, [according to USCIS](https://www.uscis.gov/working-in-the-united-states/permanent-workers/eb-5-immigrant-investor-program). While the “gold card” visa may appear similar, experts have warned that EB-5 has guardrails in place to specifically prevent the rich and wealthy from being able to purchase citizenship. “It's not about paying the government millions of dollars to get a visa. It's about showing that you have the capital available to actually improve our economy,” said Nessel. Even for those who are granted an EB-5, the green card they receive is conditional for two years “specifically, out of concern that it is not just buying your way in,” Nessel explained. “Within 90 days of that two-year period ending, the investor has to document and show that they actually have done what they said they would do, and they are creating jobs in the \[U.S.\] economy.” Nessel noted that similar visa programs in other countries have been shut down to a variety of concerns, including money laundering and tax evasion. A program that has drawn comparisons in Spain, which required incoming immigrants to purchase property, [closed](https://www.lamoncloa.gob.es/consejodeministros/referencias/Paginas/2024/20240409-referencia-rueda-de-prensa-ministros.aspx#visa) due to concerns it was making [housing unaffordable](https://www.cntraveler.com/story/spain-golden-visa-ending-everything-to-know) for locals. During his first Cabinet meeting on Wednesday, Feb. 26, [Trump said](https://www.pbs.org/newshour/politics/watch-live-elon-musk-attends-trump-cabinet-meeting-at-the-white-house) there was a “thirst” for the “gold card” visa and touted it as a way to attract entrepreneurs. “Companies can buy gold cards and, in exchange, get those visas to hire new employees,” the President said. “No other country can do this because people don’t want to go to other countries. They want to come here.” ## **How might Trump’s "gold card" work?** It is not clear how Trump’s “gold card” would work. Lutnick said at the Oval Office in February that potential applicants for the “gold card” visa would have to go through a vetting process to ensure they are “wonderful world-class global citizens,” but did not give further details. When asked by the press whether Russian oligarchs could apply to the program, Trump said: “Possibly. I know some Russian oligarchs who are very nice people.” The legality of the “gold card” visa has also been a sticking point. The EB-5 program, which the Administration [said they were replacing](https://www.youtube.com/watch?v=3djKQtVws7s), was created [by Congress in 1990](https://www.uscis.gov/working-in-the-united-states/permanent-workers/employment-based-immigration-fifth-preference-eb-5/about-the-eb-5-visa-classification). That program allows potential immigrants who invest $1,050,000, or $800,000 in targeted employment areas—meaning rural areas or areas experiencing high unemployment—to apply for a green card, though there are a [number of other qualifications](https://www.uscis.gov/working-in-the-united-states/permanent-workers/employment-based-immigration-fifth-preference-eb-5/about-the-eb-5-visa-classification) applicants have to meet and it can be a rather lengthy process. “The EB-5 program was created by Congress. It's in statute. The President doesn't have the authority to override \[that\],” Jorge Loweree, the managing director of programs at the American Immigration Council, told TIME in February. The EB-5 visa has an annual cap of about 10,000 visas a year, or some 7.1% of the 140,000 employment-based visas available every fiscal year, [per the State Department](https://travel.state.gov/content/travel/en/us-visas/immigrate/immigrant-investor-visas.html). It's possible that there will be no caps on “gold card” visas like there are for all other visas to the U.S. “200,000 of these gold, green cards is $1 trillion to pay down our debt and that’s why the President is doing it,” Lutnick said [during Trump’s first Cabinet meeting](https://www.pbs.org/newshour/politics/watch-live-elon-musk-attends-trump-cabinet-meeting-at-the-white-house). “Because we are going to balance this budget and we are going to pay off the debt under President Trump.” Speaking to [Fox News](https://www.foxnews.com/video/6369368350112), Lutnick said the number of people waiting for such a visa was even higher, estimating it to be 250,000, though it is not clear where he got that number from. Lutnick has been a vocal critic of the program. He called it “full of nonsense, make-believe, and fraud,” and [referred](https://youtu.be/3djKQtVws7s?t=20) to it as a “way to get a green card that was low-price.” ## **How are government officials reacting to Trump’s "gold card" proposal?** Some officials were vocal in their criticism of Trump’s proposal. [Rep. Ro Khanna of California](https://time.com/7024525/childcare-congress-bill/), a Democrat, said that he thought immigration should follow a merit-based approach, and asked for reform to the H-1B visa, which allows U.S. employers to sponsor foreign-born workers in a specialty occupation. “We should welcome talented workers to America who will bring their creativity and productivity while also reforming the H1-B program to prevent abuses," Khanna [told Newsweek](https://khanna.house.gov/media/in-the-news/ro-khanna-blasts-trumps-5-million-gold-card-visa#:~:text=However%2C%20critics%20have%20argued%20that,for%20the%20president%20and%20Lutnick). Rep. Jake Auchincloss, a Democrat from Massachusetts, also called out Trump’s plan. “It's typical Trump policy in which he takes a kernel of a legitimately good idea which is that we do need immigration reform… and he takes it to a corrupt and counterproductive place,” he [told](https://x.com/JakeAuch/status/1894840771519431083) CNN. “We were talking about having scientists come to America to cure disease and now he takes it to ‘let's have Russian oligarchs here,’ to come to America and play golf with him.” _—Chad de Guzman contributed reporting._ ## Transcript We're going to be selling a gold card. You have a green card? This is a gold card. We're going to be putting a price on that card of about $5 million. And that's going to give you green card privileges. Plus it's going to be a route to citizenship. And wealthy people will be coming into our country by buying this card. They'll be wealthy and they'll be successful, and they'll be spending a lot of money and paying a lot of taxes and employing a lot of people. And we think it's going to be extremely successful. The EB five program was really you lend some money, but it was all it was full of nonsense, make believe and fraud. And it was a way to get a green card that was low priced. So the president said rather than having this sort of ridiculous EB five program, we're going to end the EB five program. We're going to replace it with the Trump Gold card, which is really a green card gold. So they'll be able to pay $5 million to the US government. They'll have to go through vetting. Of course. We're going to make sure they're wonderful, world class global citizens. They can come to America. The president can give them a green card, and they can invest in America, and we can use that money to reduce our deficit. Why do we give out lotteries of green cards? Why do we give out EB five for green cards? President. United States understands that the right answer is why don't we eliminate the deficit of the United States of America instead? Do you need Congress for this? Do you think you need them? No, we don't need Congress. No, because we're not doing citizenship. We're doing the card. I see. It's a path. It's a path to citizenship, a very strong path to citizenship. But we're not doing the citizenship for that. I'd have to get Congress. And would all countries be eligible for this goal? It depends. The countries, largely the people, will be vetted very carefully. A Russian oligarch would be eligible for a gold card. Yeah, possibly. Hey, I know some Russian oligarchs that are very nice people. It's possible. Um, they're not quite as wealthy as they. Used to be. They're not as wealthy as they used to be. But I think they can afford. I think they can afford $5 million. So they know a lot of people are going to want to be eligible. A lot of people are going to want to be in this country, and they'll be able to work and provide jobs and build companies and pay taxes, all of those things. It's an incredible, uh, it's an incredible thing. ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/7261958/what-is-gold-card-trump-citizenship-route-how-it-might-work/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/7261958/what-is-gold-card-trump-citizenship-route-how-it-might-work/"},"headline":"What Is Trump's 'Gold Card' Route to Citizenship and How Might It Work?","datePublished":"2025-02-26T18:11:20.000Z","dateModified":"2026-01-19T19:49:01.000Z","description":"The prospect of a paid path to citizenship comes as the Trump Administration continues its crackdown on immigration across the country.","url":"https://time.com/7261958/what-is-gold-card-trump-citizenship-route-how-it-might-work/","keywords":["Donald Trump","News Desk"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/blt5b440683fce93465/6998c777d32e93992bcd718d/trump-card-gold-card.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Solcyré Burga","jobTitle":"Reporter","url":"https://time.com/author/solcyre-burga/"},{"@type":"Person","name":"Callum Sutherland","jobTitle":"Reporter","url":"https://time.com/author/callum-sutherland/"}],"articleSection":"Politics","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/blt5b440683fce93465/6998c777d32e93992bcd718d/trump-card-gold-card.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"US-POLITICS-TRUMP","caption":"US-POLITICS-TRUMP","creditText":"Mandel Ngan—AFP/Getty Images","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/politics/","name":"Politics"}},{"@type":"ListItem","position":2,"item":{"@id":"/tag/donald-trump/","name":"Donald Trump"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/7261958/what-is-gold-card-trump-citizenship-route-how-it-might-work/","name":"What Is Trump's 'Gold Card' Route to Citizenship and How Might It Work?"}}]},{"@context":"https://schema.org","@type":"VideoObject","name":"U.S. to Replace Investor Visas With $5 Million ‘Trump Gold Card’ Path to Citizenship","description":"President Donald Trump said Tuesday that he plans to offer a “gold card” visa with a path to citizenship for $5 million, replacing a 35-year-old visa for investors. 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