Will Donald Trump's $5 million gold card visa attract wealthy investors? Here’s what experts say

US President Donald Trump’s proposed ‘gold card’ visa program, which requires a $5 million investment for US citizenship, is unlikely to generate significant interest among global investors, according to immigration and wealth advisers.

Concerns over higher taxes, regulatory scrutiny, and immigration policies are expected to deter many high-net-worth individuals from participating.

Trump’s Gold Card Visa

Trump, speaking on Tuesday, announced his plan to replace the existing EB-5 Immigrant Investor Program, which currently requires a minimum $800,000 investment, with a new 'gold card' visa.


He said it would grant US citizenship to foreign nationals willing to invest at least $5 million in American businesses.

While details of the plan are expected to be released in two weeks, experts have expressed skepticism over its potential success.

“I do not believe that the current POTUS offer will have a big impact, as getting a green card in the U.S., if you meet certain criteria, is not difficult,” said Bassim Haidar, a former UK-based multimillionaire.

“Paying $5 million for a golden visa and getting taxed on global income defeats the purpose.”

Wealthy Investors Unlikely to Show Interest

The U.S. is already perceived as an expensive and tax-heavy destination for foreign investors, making the proposed visa less attractive compared to similar programs in other countries, analysts say.

John Hu, founder of Hong Kong-based John Hu Migration Consulting, noted that the EB-5 visa program had primarily attracted investors from Hong Kong and China, many of whom wanted to expand businesses or secure education opportunities for their children.

However, he believes the higher investment threshold will discourage participation.

“The total number of applicants, if the golden visa is going to replace the EB-5, will drop significantly,” Hu said, as per the report by Reuters.

“Global tax liabilities are always a concern for wealthy individuals.”

Grace Tang, CEO at Singapore-based Phillip Private Equity, echoed these concerns, stating that while the U.S. remains an appealing destination for many Asian investors, its global taxation policies may be a strong deterrent.

Challenges in Implementation

Beyond investor hesitation, Trump’s proposed gold card visa also faces legislative hurdles.

The EB-5 program was created by Congress in 1990 to stimulate job creation and capital investment.

Any significant overhaul, such as replacing it with a new system, would require Congressional approval.

“It also requires congressional approval, so Trump alone cannot decide to eliminate the current EB-5 program,” said Kim Ji Sun, president of Dae Yang Immigration Law Group in Seoul.

“Considering the amount required, I don’t think demand from South Korea will increase significantly.”

Impact of Global Trends on Golden Visa Programs

Trump’s announcement comes at a time when the European Union is urging member states to tighten residency-by-investment schemes, citing concerns over tax evasion, corruption, and speculative property markets.

A 2021 study by researchers at Harvard University and the London School of Economics found that such programs had only a negligible economic impact.

While Trump claimed that the gold card program would be open to wealthy applicants, including Russian oligarchs, experts believe the $5 million price tag and U.S. tax rules will significantly limit participation.

“It could be a negotiation tactic to increase investment into the U.S., but the demand may remain weak,” said a financial adviser familiar with investor migration trends.

FAQs

How much is EB-5 fee?

The processing fee for filing Form I-485, the Application to Register Permanent Residence or Adjust Status under the EB-5 Green Card program, is $1,140. Meanwhile, the fee for filing Form I-829, the petition to remove conditions on permanent resident status for the primary applicant, is $9,525.

Does EB-5 guarantee a Green Card?

The EB-5 visa program does not guarantee a green card, but it offers a pathway to permanent residency for eligible investors who meet the program's requirements.