Elon Musk confirms “quiet trial” of controversial $5 million Gold Visa Card program that promises wealthy foreigners a fast track to American citizenship.
At a Glance
- Elon Musk, Head of the Department of Government Efficiency, has confirmed a “quiet trial” of Trump’s $5 million Gold Card Visa program
- The program aims to replace the current EB-5 visa, exempting holders from U.S. taxes on overseas income
- Trump projects selling 1 million cards, potentially generating $5 billion in revenue
- The initiative has sparked debate between those welcoming investment and critics who favor attracting skilled talent without high price tags
- Program details are still developing with involvement from multiple federal agencies
Gold Card Program Details Emerging
The Trump administration’s ambitious $5 million “Gold Card” visa program has entered a testing phase, according to Elon Musk, who heads the Department of Government Efficiency Commission. The program represents a significant shift in American immigration policy, offering wealthy foreign nationals expedited residency and a pathway to citizenship in exchange for substantial investment. This initiative is designed to replace the existing EB-5 visa program but requires a significantly higher financial commitment from applicants.
According to reports, the program was initially introduced by President Trump in February 2025 and is currently undergoing what Musk described as a “quiet trial” to test its implementation before a broader rollout. The Department of Government Efficiency is coordinating with several federal agencies, including Customs and Border Protection, U.S. Citizenship and Immigration Services, and the State Department to develop the necessary infrastructure for the program.
Presidential Vision for Wealth Attraction
President Trump has been vocal about his support for the Gold Card program, viewing it as a mechanism to attract affluent individuals to the United States. The initiative aims to create what some describe as a “high-roller fast lane” to American residency, with significant financial benefits for cardholders, including exemption from U.S. taxes on overseas income – a potentially powerful incentive for international investors considering relocation.
“It’s going to be a route to citizenship, and wealthy people will be coming into our country by buying this card. They will be wealthy, they will be successful, they will be spending a lot of money and paying a lot of taxes,” said President Donald Trump.
The administration has ambitious projections for the program, with Trump reportedly aiming to sell approximately one million Gold Cards. Reports suggest that about 1,000 cards have already been sold during the initial trial phase, potentially generating $5 billion in a single day – showcasing the substantial financial impact this program could have on government revenue if fully implemented.
Comparing to Existing Programs
The Gold Card differs significantly from the current EB-5 investor visa program, which was established in 1990. While the EB-5 program requires a minimum investment of $800,000 in rural areas or $1.05 million in high-employment areas, along with creating jobs for American workers, the Gold Card sets a flat $5 million price tag with potentially fewer strings attached, focusing primarily on capital attraction rather than direct job creation requirements.
“We are going to be putting a price on that card of about $5 million. It’s going to give you green card privileges plus it’s going to be a route to American citizenship, and wealthy people would be coming into our country by buying this card,” Trump said.
Debate Over Merit vs. Money
The Gold Card initiative has generated significant debate among lawmakers and immigration policy experts. Supporters, including Senator John Cornyn, frame the program as an extension of merit-based immigration principles that could benefit the American economy by attracting accomplished global investors. These proponents view the program as a practical way to boost economic investment while maintaining selective immigration standards.
“We’re trying to come up with some legislation that would make that happen. It is sort of the ultimate merit-based immigration. And if we continue to attract the smartest, most accomplished people from around the world to America, that’s good for all of us,” added Senator John Cornyn, a Texas Republican.
However, critics like Representative Ro Khanna argue that genuine merit-based immigration should focus on talent and skills rather than wealth. They point to successful immigrant entrepreneurs who built American tech giants without having millions in initial capital. These voices advocate for immigration reforms that would attract innovative thinkers regardless of their financial resources, while addressing existing program limitations.
“You don’t need to have $5 million in your bank account to build a successful company in America. Just look at Sergey Brin, Sundar Pichai, or Satya Nadella. We should welcome talented workers to America who will bring their creativity and productivity while also reforming the H1-B program to prevent abuses,” said Representative Ro Khanna, a California Democrat.
Next Steps and Implementation
While the trial phase is underway, many details about the Gold Card program’s full implementation remain unknown. The administration is reportedly developing essential infrastructure, including a dedicated website for applications and processing. The coordination between multiple federal agencies suggests a comprehensive approach to ensuring the program meets legal requirements while delivering on its promised benefits to both investors and the United States.
The official launch date has not been announced, as officials appear to be awaiting results from the current testing phase before proceeding with a wider rollout. With significant financial implications and potential long-term impacts on American immigration policy, the development of this program represents a notable shift in how the United States approaches investment-based immigration and citizenship pathways.
