Former US President Donald Trump's ambitious “Gold Card” visa program, designed to offer a fast-track residency route for affluent foreign nationals, is reportedly failing to attract significant interest. Despite being marketed as a premium pathway for high-net-worth individuals, recent government filings reveal a stark contrast between administration projections and actual engagement.
Low Uptake for the Gold Card Visa
Official data indicates a surprisingly low number of serious applicants for the Gold Card visa. Out of 338 initial requests, only 165 individuals proceeded to pay the non-refundable $15,000 processing fee. Furthermore, a mere 59 applicants advanced to the subsequent paperwork stage, suggesting a deep skepticism among the target demographic.
Immigration Lawyers Warn Against Participation
Prominent immigration attorneys are actively advising clients to steer clear of the Gold Card scheme, citing a host of legal, financial, and ethical concerns. Michael Wildes, an attorney who has previously represented members of the Trump and Kushner families, publicly stated he would consider it unethical to take on Gold Card applicants due to the program's inherent uncertainties.
Rosanna Berardi, another respected immigration lawyer, highlighted the critical issue of the program's origin. Unlike established routes such as the EB-5 investor visa, the Gold Card was initiated via executive action rather than through congressional legislation. This lack of statutory backing creates significant legal vulnerability, raising questions about its long-term viability and whether a future administration could simply terminate it, leaving investors without their anticipated residency benefits despite substantial non-refundable fees.
Why the Gold Card Faces Skepticism
- Lack of Congressional Approval: The absence of a clear statutory framework, unlike the EB-5 program which offers residency for investments of at least $800,000 into job-creating projects, makes the Gold Card legally precarious.
- Shifting Price Structure: Inconsistent statements from administration officials regarding the required investment, ranging from $1 million to $5 million, coupled with additional fees for family members, have created confusion.
- Uncertain Benefits: Promises of expedited approvals and tax advantages have been questioned, with court filings clarifying that Gold Card applicants would not receive priority over traditional employment-based visa seekers.
Administration Claims Versus Reality
Commerce Secretary Howard Lutnick had previously projected the initiative could generate over $100 billion in revenue and attract tens of thousands of wealthy investors. However, the current application numbers fall dramatically short of these ambitious expectations.
While the administration once claimed at least one Gold Card had been approved, details about the recipient remained scarce. Online speculation briefly linked rapper Nicki Minaj to the program after she posted a gold-themed card featuring Trump's face, but this was later clarified by the White House as merely a souvenir.
Despite the widespread caution from legal experts, a small number of immigration lawyers report that some wealthy clients, particularly from countries with more restrictive immigration barriers, continue to explore the program.