US President Donald Trump recently announced a ‘Gold Card’ visa scheme for citizenship, which can be purchased for $5 million (about Rs 43 crore). With this visa, foreign nationals can buy US citizenship. They will also be allowed to work. In such a situation, this’ Gold Card ‘is seeing a flurry of buyers. A senior Trump administration official has claimed to have sold thousands of cards in a single day.
US Commerce Secretary Howard Lutnick said that President Trump’s Gold Card or Golden Visa scheme is getting a tremendous response. Under this scheme, 1 thousand golden visas have been sold in a single day. The government has earned a lot of revenue through this.
“37 million people are able to buy cards”
“There are 37 million people in the world who are able to buy the card (Golden Visa),” Lutnick told the All In podcast. President Trump thinks we can sell a million cards. Yesterday I sold a thousand cards.
Elon Musk building software – Lutnik
During this time, Lutnick further explained how Donald Trump came to know about this card. He said Trump came up with the idea for the Golden Card during a meeting with investor John Paulson. Lutnick was then roped in to figure out how to work on the card. Lutnick also pointed out that Elon Musk is making software.
Why do you want to buy a Gold Card?
Lutnick shared many more information related to the gold card. Why do you want to buy a Gold Card? In response, Lutnick gave an example, saying that if he were not an American himself, he would have had to buy 6 gold cards. One for himself, one for his wife and the rest of the family. So that if a crisis-like situation arises, he can come to America with the whole family and start his life afresh and start a new business.
Will ‘Gold Card’ replace ‘Green Card’?
He further informed that the ‘Gold Card’ will replace the ‘Green Card’. Buyers of the Gold Card will get the facility of permanent residence in the US. However, card holders can try to take citizenship. “But most people don’t think to avoid US global imprisonment,” he added. Each card is worth $5 million. This card will give you the right to stay in the US indefinitely.
NEW: Commerce Secretary Howard Lutnick says he sold 1000 immigration Gold Cards (priced at $5M each) in one day this week.
The development means $5 Billion was made to help pay off the national debt.
"There are 37,000,000 people in the world who are capable of buying the… pic.twitter.com/oQD6XgwWf7
— Collin Rugg (@CollinRugg) March 21, 2025
What is a Gold Card?
Under the Gold Card scheme, the path will be clear for any foreign citizen to become a US citizen. This card holder will be able to become a permanent resident of the US. However, he will not have to join the US tax system. This simply means that wealth earned outside the US will not be taxed. However, if the person earns while living in the US, he will have to pay tax on the income.
Advantages of the Gold Card Visa
- Gold card holders will have the right to stay in the US at any time.
- If a foreigner wants to become a citizen, he can, but it will not be mandatory.
- Gold card holders will have to pay tax only on income earned in the US.
- The Trump administration expects about 1 million cards to be sold. This will help reduce the U.S. fiscal deficit.