Can Trump Sell U.S. Green Cards for $5 Million?

Trump's New “Gold Card” Green Card: What It Means for Business Immigration

As an immigration attorney, I’ve seen my fair share of policy changes, but this one truly left me clutching my pearls. In the Oval Office, President Donald Trump made headlines in February by announcing a new kind of green card that costs $5 million—a drastic shift from existing investor visa programs. Donald Trump is the key figure behind this initiative, and it’s being referred to as Trump’s proposal for “gold cards”, a new visa option. While it sounds like a spoof, it is very much real. Trump said the program could generate millions in revenue, with a price on that card set at $5 million, and that's going to attract wealthy people from around the world who are willing to pay for a pathway to U.S. residency. The gold card would give you green card privileges in exchange for a significant monetary investment, replacing or modifying existing programs like EB-5. Companies may also benefit by using the program as a tool for hiring top global talent and contributing to the economy. Trump mentioned they are going to be putting additional measures in place to ensure only very nice people, possibly including some nice people from other countries, would qualify. Other countries have implemented similar programs, but Trump’s proposal sets a new price and scale for the U.S.

So, what exactly does this mean for businesses, immigrants, and the future of employment-based immigration in the U.S.? Let’s break it down.

The Basics of Trump's Gold Card Green Card

Trump’s new immigration proposal suggests that wealthy individuals can buy a U.S. green card for $5 million, without needing to invest in a business or create jobs—just straight cash to the government. The cost and price of the gold card are much higher than the EB-5 program, with the price on that card set at $5 million, compared to the EB-5's $800,000 to $1 million investment. Under trump's proposal, applicants would pay the government in exchange for a gold card, making the process a direct transaction rather than an investment in a business. If 10 million people took this deal, he said, it could erase the national deficit and eliminate federal taxes for the rest of us—millions of applicants each paying $5 million and that's going to generate enormous revenue.

This is a radical departure from the existing EB-5 investor visa program, which:

• Requires an investment of at least $800,000 to $1 million in a qualifying U.S. project, with applicants putting their funds into American businesses or economic zones.
• Demands that the investment creates American jobs
• Provides a clear path to a green card through economic contribution, not just a simple payment, by putting a price on job creation and economic impact.

Companies could also benefit from the gold card program, potentially using it as a tool to attract global talent or facilitate the hiring of high-net-worth individuals. The gold card would allow wealthy people and very nice people—as trump said, possibly including nice people from around the world—to be coming into our country through a straightforward financial route. Trump's proposal for gold cards or the trump gold card is designed to give you green card privileges in exchange for a significant payment, targeting those who can afford the high price.

Other countries have implemented or discontinued similar programs, but the U.S. would be going to be putting its own spin on the process with this new approach. The eligibility criteria could possibly include a vetting process to ensure only the most desirable applicants are approved.

Could this Gold Card fundamentally change how green cards are issued by shifting visas away from family-based and employment-based immigration toward pure wealth-based immigration?

The Legal Reality: Can the President Just Create This?

In his announcement, Trump insisted that he didn’t need Congressional approval to implement this program. However, the reality is:

• Green card allocation is controlled by Congress, not the President.
• The last time Congress updated green card numbers was in 1990—and any major reform requires legislation.
• Current law does not allow the U.S. government to sell visas outright, and prior administrations have carefully avoided any appearance of corruption when issuing visas.

Only Congress has the authority to pass or amend immigration laws, and the President cannot override this authority unilaterally.

While a President can influence immigration policy through executive actions and visa regulations, such a drastic policy requires Congressional authorization, making its implementation questionable at best.

Implementation and Challenges: From Proposal to Practice

Rolling out President Donald Trump’s gold card program is far from a simple executive order away. The trump administration faces a labyrinth of legal, logistical, and ethical hurdles before wealthy foreigners can start paying $5 million for green card privileges.

First, there’s the legal minefield. The Nationality Act and other immigration laws set strict boundaries on how green cards are issued, and any attempt to replace the EB-5 program with a gold card scheme would likely require Congress to amend existing legislation. While Trump has floated the idea of bypassing Congress, launching such a sweeping change through executive order is almost certain to spark legal challenges and controversy.

Then there’s the question of how the gold card program would actually work. Commerce Secretary Howard Lutnick has suggested that the gold card will replace the EB-5 program, but the details remain murky. The EB-5 visa process is already complex, involving regional centers, targeted employment areas, and a minimum investment amount designed to create jobs and promote economic growth. Simply swapping in a new program for wealthy individuals—without clear guidelines, eligibility criteria, or a transparent application process—risks opening the door to fraud and abuse.

Security and vetting are also major concerns. The prospect of Russian oligarchs or other wealthy individuals with questionable backgrounds gaining a route to citizenship through a gold card program has raised eyebrows in Washington and beyond. To maintain the integrity of U.S. immigration, the trump administration would need to implement robust background checks and ensure that the program doesn’t become a backdoor for money laundering or other illicit activities.

Another challenge is ensuring the program actually benefits the U.S. economy. The gold card program’s success hinges on attracting foreign investors who will contribute to economic growth and create jobs, especially in targeted employment areas that need it most. This means the government must set a minimum investment amount that’s high enough to make an impact, but not so high that it excludes all but a handful of ultra-wealthy applicants. The annual cap and eligibility criteria will also need to be carefully crafted to avoid favoring certain countries or backgrounds, and to ensure the program is accessible to a diverse pool of investors.

Finally, the transition from the EB-5 program to the gold card raises questions about what happens to existing investments and regional centers. Will current EB-5 investors be left in limbo? How will the government handle ongoing projects and commitments?

In short, while the idea of selling green cards for $5 million may sound like a quick fix for the national deficit, the reality is far more complicated. The trump administration will need to balance the desire to attract wealthy individuals with the need for fairness, transparency, and compliance with U.S. law. Without careful planning, oversight, and a clear process, the gold card program could end up creating more problems than it solves—for immigrants, businesses, and the country as a whole.

How This Could Impact Business Immigration

For U.S. businesses, this policy shift could have significant consequences:

1. A Workforce Still in Limbo: If green cards are prioritized for the ultra-wealthy, will this take visas away from high-skilled workers, essential employees, and investors who fuel American businesses? Many companies may find it harder to sponsor or retain talent if visa allocations shift toward wealthy people, impacting their ability to compete globally.
2. Talent Shortages: The U.S. economy depends on skilled immigrants in tech, healthcare, and engineering. Employers who rely on H-1B visas, PERM labor certifications, or EB-2 and EB-3 green cards may see fewer visas available if more are redirected toward wealthy individuals. Some companies may respond by offering a course or training program to help immigrants or employees navigate the new system and improve their chances of success.
3. Higher Housing Costs & Resource Strain: The idea of bringing in 10 million ultra-wealthy residents raises concerns about housing competition, tuition inflation, and infrastructure readiness. Could this exacerbate housing crises in major metropolitan areas?

The bottom line: while the prospect of welcoming many more ultra-wealthy immigrants seems novel, an immigration system focused solely on wealth—not skills, innovation, or business investments—may hurt American businesses in the long run. Wealthy people may benefit most from these changes, but companies and the broader workforce could face new challenges.