Donald Trump's 'Gold Card' Visa Program Already Has 250,000 Applicants

Former President Donald Trump's commerce secretary, Howard Lutnick, claimed that the proposed "Gold Card" visa program has already attracted 250,000 applicants. However, the application process does not appear to be live on the official website yet.

Trump's "Gold Card" initiative would offer U.S. residency to individuals willing to invest $5 million in the United States. The announcement came as part of a broader immigration strategy that restricts other pathways for those unable to meet such financial requirements. Historically, Trump has supported work-based visas, particularly the H-1B program.

During an interview with Fox News's Bret Baier on Special Report, Lutnick asserted, "There are 250,000 people waiting in line now," emphasizing that they are prepared to pay the substantial fee. He also assured Baier that applicants would undergo thorough vetting, responding to concerns about potential Russian oligarch involvement.

On Tuesday, Trump unveiled his plan to replace the existing EB-5 immigrant investor visa program with the new "Gold Card" initiative. This program would grant U.S. citizenship to foreign investors who commit substantial funds to American businesses. Currently, the EB-5 program requires applicants to pay fees ranging from $100,000 to $200,000 to the United States Citizenship and Immigration Services (USCIS) and invest between $800,000 and $1 million while creating at least 10 jobs for American workers.

Trump has marketed the "Gold Card" as a "green card plus," suggesting it would provide more benefits than traditional permanent residency. However, critics argue that this policy prioritizes wealth over merit and fails to address broader economic concerns, particularly as the administration continues efforts to deport millions of undocumented immigrants.

Trump, speaking from the Oval Office on Tuesday, stated: "It's going to be a route to citizenship, and wealthy people will be coming into our country by buying this card. They will be wealthy, they will be successful, they will be spending a lot of money and paying a lot of taxes."

Lutnick told Fox News: "The president had conversations over the weekend with his friend John Paulson, who asked, 'Why aren't we doing better with this?' He called me, we discussed it, and I worked on it over the weekend. Then on Tuesday, the president announced the plan at a press conference. Imagine if we sell a million of these— that's $5 trillion. That could pay off our debt, lower interest rates, and strengthen America."

He added, "I think people will come in large numbers because they see America as the greatest country on Earth. This program is a bold move towards addressing our national debt."

Not everyone agrees with the plan. Congressman Ro Khanna told Newsweek: "You don't need $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 workers who bring innovation and productivity, while also reforming the H-1B program to prevent abuses."

Marco A. Durazo, a political scientist at the University of San Francisco, expressed skepticism to Newsweek: "This program calls into question the Trump administration’s stance that all legal immigrants are welcome as long as they follow the 'right way.' This proposal suggests that the 'right way' now involves an exorbitant price tag, making legal entry accessible only to the wealthiest applicants. When did securing the border and fixing the immigration system become about selling access to the highest bidder?"

Details regarding the implementation of the program and whether it requires congressional approval remain unclear. Neither the White House nor USCIS has issued an official statement on the matter.