U.S. President Donald Trump has stated that wealthy foreigners, including Russian oligarchs, will be able to obtain permanent residency, and eventually U.S. citizenship, by paying $5 million (approximately AUD 7.89 million) to purchase a "Trump Gold Card."
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03-10, 2025While signing an executive order in the Oval Office on February 25th, Mr. Trump revealed that he hopes to reduce the national deficit by selling these gold cards, replacing the foreign investor visa program that has been in place since 1990. Trump told reporters, "We're going to set the price of this card at around $5 million, and that'll give you green card privileges and a pathway to citizenship."
Trump stated that those who purchase the gold card will be wealthy and successful individuals who will spend a lot of money, pay a lot of taxes, and employ a lot of people. He added, "Rich people are going to come into our country by purchasing this card. They're going to be rich, they're going to be successful, they're going to spend a lot of money, pay a lot of taxes, and employ a lot of people."
The "Gold Card" visa program is not unique to the United States, as many European countries also offer similar pathways to naturalization. Australian Federal Opposition Leader Peter Dutton has previously stated that he would like to "restore" a AUD 5 million "golden ticket" foreign investor visa program. However, political analysts believe that Trump's new gold card program could expose the U.S. to the risk of importing organized crime and undetected criminal activity from abroad.
President Trump initially revealed the "Trump Gold Card" plan to reporters in Washington D.C. without providing many details. While it may sound like something out of a Willy Wonka movie or a poker game, it is actually a pathway for wealthy individuals or companies to obtain workers and eventually U.S. citizenship. Trump confirmed that the program would operate similarly to a green card, with the main difference being that investors would not need to directly inject funds into U.S. businesses or other industries. Instead, each $5 million payment would go into the Trump administration's treasury to reduce the country's $839 billion (approximately AUD 1.32 trillion) deficit.
Trump stated that he expects the program to launch in mid-March and anticipates that major Ivy League universities or tech giants like Apple will express interest in the card. He explained, "Generally speaking, these will be rich people and job creators. They don't have to pay any taxes on income earned outside the United States... but if they create jobs in the United States, they will have to pay taxes. People with wealth or people with talent... will pay for people to come to America and gain a long-term position in the country."
The current U.S. EB-5 foreign investor program requires applicants to invest approximately $1 million (approximately AUD 1.57 million) in a U.S. company that employs at least 10 employees. According to the U.S. Department of Homeland Security's latest "Yearbook of Immigration Statistics," approximately 8,000 people obtained these visas in the 12-month period ending September 30, 2022. U.S. Commerce Secretary Howard Lutnick, who stood alongside Trump, stated that the program is "filled with baloney, fiction, and fraud."
President Trump also stated that he expects his administration to sell "maybe a million" Trump Gold Cards, which would bring in $5 trillion (approximately AUD 7.89 trillion) in deficit reduction revenue. Trump stated at his first cabinet meeting on February 26th, "I happen to think it's going to sell very well. It's a market. No other country can do that, because people don't want to go to other countries. They want to come here."
If you ask the U.S. President, the answer is no. But that's not entirely true. Nations in Europe and elsewhere offer what are known as "golden visas," which allow participants to obtain immigration status by paying a fee. Global residence and citizenship advisory firm Henley & Partners says that more than 100 countries worldwide offer "golden visas" to wealthy individuals and investors.
That list includes the United States, the United Kingdom, Spain, Greece, Malta, Canada, and Italy – but these visas are not always successful. Spain, Portugal, the Netherlands, Austria, and Ireland have all terminated their golden visa programs after the European Commission [in a 2019 report](https://commission.europa.eu/document/download/8606453f-7ee7-432b-b49d-f4b9feebee97_en?filename=com_2019_12_final_report.pdf) found that "investor residence schemes" could pose a risk to the security of EU member states.
In February 2022, the United Kingdom also cancelled its "golden visa" investment program to combat organized crime and the flow of funds into the country through Russian oligarchs as the war in Ukraine continued. Then-Home Secretary Priti Patel [said in a statement](https://questions-statements.parliament.uk/written-statements/detail/2022-02-21/hcws614): "The Home Office’s overall assessment of the (golden visa) route is that it has primarily benefitted investors, not the UK. The operation of the route has encouraged the presence of individuals relying on illicitly obtained funds or representing wider security risks."
In Australia, former Home Affairs Minister Clare O'Neil announced last January that the Albanese government would scrap its investor visa program, stating that "for years, this visa has clearly not delivered what our nation and economy needs." Nevertheless, Dutton has since stated that he would seek to reintroduce the program. The opposition leader was filmed saying at an event last month: "I think we would bring it back, you know, whether we do that before the election or we look at a different design, we've got to consider all of that."
Abul Rizvi, former Deputy Secretary of the Department of Immigration in Australia, told the Australian Broadcasting Corporation that Trump's new visa program "has both advantages and disadvantages." Rizvi said: "The obvious advantage is that you can immediately inject a large amount of money into the U.S. government's treasury. The biggest risk is: how do you know if this money was legitimately earned? How do you know you're not talking about criminals? How do you know this won't lead to helping criminals strengthen their foothold in the United States? In countries like China and Russia, it is difficult to check whether the money earned was legitimately earned, rather than earned through criminal means."
After announcing the gold card, Trump was asked in the Oval Office whether the program would allow Russian oligarchs to legally purchase a pathway into the United States. The president replied: "Yes, possibly. I know some very nice Russian oligarchs." The president's announcement also coincides with his administration's gradual deportation of [what he has described as "illegal aliens"](https://www.abc.net.au/news/2025-03-04/trump-deportation-strikes-fear-asians-living-in-america/104926156) who are found to have committed crimes in the United States.
Dr. Emma Shortis, director of the International and Security Affairs Program at the Australia Institute, described the gold card program as "everything Trump," and stated that it represents a broader strengthening of relations between the United States and Russia. Shortis told the Australian Broadcasting Corporation: "Money is the language that (Trump) speaks, so, in that framework, you offer a pathway to citizenship for simply handing over millions of dollars is perfectly logical." She added: "What's happening is that Trump and the broader Trump movement are ideologically aligned with Putin's Russia."
Both analysts have questioned whether the United States will actually be able to sell a million or more Trump Gold Cards, as the U.S. President predicts. Shortis also stated that Trump's suggestion that corporate groups could purchase the card to obtain talented foreign workers indicates that he himself has an interest in increasing the profits of members of his inner circle, such as Tesla and SpaceX founder Elon Musk and Amazon Executive Chairman Jeff Bezos. Shortis said: "Trump is very good at grifting, so I think I would question whether he cares about the deficit. Many of his executive orders... are not designed for the national interest of America, but for the interests of Trump and a small group of very powerful men."
