Trump’s ‘Gold Card’ visa draws 68,000+ signups within 5 days, but experts have this warning for applicants

More than 68,000 people have signed up for the Trump administration’s new ‘Trump Card’ visa scheme, which promises US residency in exchange for a $5 million investment, according to a report by Financial Times. The programme, unveiled by President Donald Trump on June 12, is being positioned as a premium alternative to the EB-5 investor visa even as legal experts warn it lacks legislative backing.

The initiative was first floated in February and formally launched when Trump announced the registration site, trumpcard.gov, via Truth Social.

“FOR FIVE MILLION $DOLLARS, THE TRUMP CARD IS COMING!” Trump posted. “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.”

The digital version of the card features Trump’s image, his signature, the Statue of Liberty, a bald eagle, and the US flag. Commerce Secretary Howard Lutnick told Financial Times that 68,703 people had signed up within hours of launch.

“The card will be made of gold,” Lutnick said. “Donald Trump appreciates these kinds of things... he thinks if you’re going to buy and make this investment in America, we should give you something that is beautiful.”

Lutnick revealed the concept was originally pitched by billionaire investor and Trump donor John Paulson as a way to raise revenue and reduce the $36 trillion national debt.

What the Trump Card offers:

• $5 million investment in exchange for green card-like privileges

• Path to US citizenship (details undisclosed)

• Gold-plated digital card with Trump branding

• Alternative to the EB-5 investor visa

• No USCIS guidelines or legal framework yet

Trump had previously called it “somewhat like a green card, but at a higher level of sophistication,” claiming it would attract wealthy global investors.

Indian investor interest:

Lutnick promoted the programme during a visit to New Delhi in May at the US-India Strategic Partnership Forum.

“I expect the Trump Card will create really an enormous opportunity... We are going to be incredibly successful in India.”

Legal pushback builds

Despite administration claims that the programme doesn’t need new legislation, critics say otherwise. A Reuters report cited an internal State Department memo warning the plan could be blocked by the Office of Management and Budget or challenged in court. The $5 million price tag was noted as “contrary to settled Supreme Court precedent.”

Nicholas Mastroianni III, president of US Immigration Fund, said, “The proposed Trump ‘Gold Card’ is not law... It has no legislative text, no USCIS framework, and no defined criteria around family eligibility, job creation, or adjustment benefits.”

He contrasted it with the existing EB-5 visa, which is over 30 years old, grounded in federal law, and has issued more than 100,000 green cards.