Trump's 'Gold Card' plot has 250,000 applicants so far
3 Min Read
Although the gold card visa scheme has allegedly gotten an abundance of applications, certain reactions remained negative, particularly when considering US immigration policies.
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President Donald Trump addresses the National Governors Association dinner and reception in the East Room of the White House on Saturday, February 22, 2025, in Washington. (Pool via AP)
The "gold card" visa scheme already has 250,000 applicants, Howard Lutnick, President Donald Trump's commerce secretary, stated in a recent interview. However, the website does not show registrations yet.
Trump's latest endeavor entails selling "gold cards" worth $5 million in exchange for permanent residency in the United States as a means to attract rich foreigners to the country.
The US president announced the plan during a press briefing at the White House on Tuesday afternoon, stating that the United States would offer "green card privileges plus" and a "path to citizenship" for purchasers.
Lutnick, who stood alongside Trump in the Oval Office during his speech, announced that the "gold card" program would replace the EB-5 visa scheme, which grants visas to foreign investors.
Under the new program, applicants will pay a $5 million fee directly to the US government and undergo vetting, according to Lutnick. While many nations have citizenship or residency-by-investment programs, these have faced scrutiny over security concerns, potential corruption, and the risk of tax evasion.
In an interview with Bret Baier on Special Report on Fox News, Lutnick stated, "There are 250,000 people waiting in line now," emphasizing that they are willing to pay the substantial fee.
When Baier questioned whether Russian oligarchs were among the applicants, Lutnick assured him that all applicants would undergo a thorough vetting process.
Reactions to Trump's new scheme
Reacting to Trump's new gold card scheme, Congressman Ro Khanna told Newsweek on Wednesday "You don't need to have $5 million in your bank account to build a successful company in America. Just look at Sergey Brin, Sundar Pichai, or Satya Nadella."
"We should welcome talented individuals who bring creativity and productivity to our country while also reforming the H1-B program to prevent abuses," he added.
Marco A. Durazo, a political scientist at the University of San Francisco, also criticized the plan, saying that the program raises questions about the US administration's "claim that all legal immigrants are welcome as long as they follow the ‘right way.’"
Further slamming the plot, Durazo said that so far, the "right way" entails "a price tag that limits access to only the wealthy elite. "Since when did securing the border and repairing the broken immigration system make entry open to the highest bidder?" he noted.
Read more: Trump says will deport migrants using local police if elected
