US President Donald Trump will sign an executive order on September 19, 2025 at the White House Oval Office in Washington, DC. Trump signed two executive orders, established a “Trump Gold Card” and introduced a $100,000 fee on his H-1B visa.
Andrew Harnik | Getty Images News | Getty Images
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By cutting the price of gold cards from $5 million to $1 million, President Donald Trump has created one of the most coveted deals in the global visa market, already in the midst of surge in demand among the wealthy people around the world, according to immigration lawyers.
Last week, Trump signed an executive order announcing the official release of the gold card. When he first unveiled his gold card in February, it was priced at $5 million. The Gold Card website promotes future $5 million platinum cards, which have received additional tax benefits, but the platinum cards were not an executive order and were not mentioned in press events.
With new discount prices and promises of quick approval, the Gold Card has instantly become one of the most popular Golden Visas in the world, with prices lower than in many other countries. For example, Singapore’s investment visa program costs nearly $8 million, while New Zealand’s new program costs just under $3 million. Even Samoa is expensive and requires an investment of $1.4 million.
“The gold card is almost too cheap,” said Reaz Jafri of Withers. “The US education system, healthcare system, banking system, financial markets, all accessible for $1 million. This is for many of these families. I think we should have maintained $5 million to make it special.”
The wealthy people in the world are ready to write a check. Jafri spoke at a Family Office Conference held in Singapore this week, and said he was approached by two Chinese-based and two India-based families, who immediately expressed interest in purchasing gold cards. He said he hopes that only his company will help handle “hundreds” of applications once the program is proven off the ground.
Commerce Secretary Howard Lutnick said the government is planning to issue 80,000 gold cards. He said the program is expected to raise $100 billion in federal revenue, along with a potential platinum card and a new H-1B fee raised to $100,000.
Gold cards still face obstacles. Despite the announcement at the White House on Friday, there is no way to apply for a visa yet. The website announcing the Gold Cards, released in June, is seeking basic information from potential applicants, including their name and country of residence. So far, those who registered on the site said they have not received any updates.
The program could also be potentially challenged by the Courts or Congress. As immigration laws are set up by Congress, the president has created gold cards through several legal workarounds, including using existing EB-1 and EB-2 programs as infrastructure or as a basis for gold cards. The $1 million fee is officially labelled as an “unlimited gift” to the government, rather than an official fee change.
According to immigration lawyers, interim legal status may initially give a wealthy overseas suspension. Many applicants will wait to see the first gold card awarded and awarded before spending $1 million. Some people wait longer.
“These things always take a little time,” said Dominic Borek, Group Head of Henry & Partners’ private client. “People don’t want to be the first person to try it out. Most of our clients like to keep the program up and running for 3-6 months and see the results before committing.”
Volek said he has already received many inquiries from clients and expects the program to attract at least 5,000-10,000 applications per year.
“From a price range perspective, it’s definitely appealing at $1 million instead of $5 million,” says Volek. “And if they’re as fast as they say, it’s even more appealing.”
Gold cards also appear at the best moments in the global visa market. As geopolitical uncertainty, war and political tensions rise around the world, ultra-rich people are purchasing alternative citizenship and settlements for “Plan B” or hedges against their country.
An estimated 142,000 billionaires are expected to relocate to other countries in 2025, according to a report by New World Wealth and Henley & Partners. The US is one of the best destinations, with 7,500 billionaires expected to move to the US this year, ranking second only to the UAE. Most of the billionaires who come to America are from Asia, the UK and Latin America.
The demand for gold cards is likely to come mainly from China and India, according to immigration advisors. However, applicants in those countries may be disappointed. The EB-1 and EB-2 programs (forming the foundations of gold cards) already have a large backlog from applicants in China and India, and have grown over the years. If a Gold Card buyer is allowed to skip before the line for a $1 million donation, the waiting applicant could potentially file a lawsuit. At the same time, gold card buyers will be willing to spend $1 million if they are forced to wait years for approval.
A dramatic increase in the number of visas available through the EB-1 and EB-2 programs is likely to require approval from Congress, the advisor said.
“India and China are actually excluded from the gold cards,” Borek said. “The EB-1 and EB-2 routes already have a big backlog for China and India. So, if born in one of these two countries, immediate access to the gold card may not actually work.”
Gold Cards also have some drawbacks compared to other Golden Visa programs around the world. While donations of $1 million are not refundable, visas from other countries are constructed as investments that can generate returns. And unlike most other countries, the US taxes citizens and residents on global income, even if they earn money abroad.
Platinum cards are designed to partially avoid tax issues in exchange for higher prices. According to the White House, the Platinum Card allows holders to stay in the US for 270 days a year without paying taxes on their overseas income. Foreign citizens are subject to global tax if they are in the United States for 183 days for three years using the complex IRS day count formula, now known as the “substantial existence” test.
Some advisers say Platinum cards will sell more severely than gold cards. Because it doesn’t lead to green cards or citizenship, and it’s limited profits for the ultra-rich people who already spend their time in the US.
“It won’t sell well,” said David Lesperance, Lesperance Associates. “Leah, few people think that spending another 91 days in the US is worth $5 million.”
Others say gold and platinum cards appeal to a wide variety of foreign riches. Platinum cards may be appealing to super wealthy people, such as billionaires from Asia or the Middle East who want to be in the US but want to protect businesses and income from US taxes. Jafri said he has already been inquired about platinum cards from four family offices in Brazil.
The Gold Card is suitable for rich sons and daughters overseas who want to go to US universities and become more competitive in the US job market after graduation.
“Many of these overseas billionaires children don’t want to run family businesses, they want to become architects, doctors, engineers and do regular work,” Jafri said. “Or maybe they want to create a startup in America. Gold cards are very appealing to that group.”
Given the relatively low prices for gold and platinum cards, Jafri said the White House should consider issuing a black card in the end.
“They were able to charge $20 million or $25 million and exempt buyers from real estate tax,” he said. “It’s going to be a game changer. I’m sure 1,000 people will do that, they’ll bring all their assets to the US.”
