US Gold Card Scheme Off to a Flying Start? 1,000 Sold in a Day, Says Commerce Secretary
The Gold Card program is that holders will not be subject to U.S. global tax unless they choose to become full-fledged U.S. citizens.
US Gold Card Scheme Off to a Flying Start? 1,000 Sold in a Day, Says Commerce Secretary, Latest News: Washington, D.C.: Former U.S. President Donald Trump’s ‘Gold Card’ or ‘Golden Visa’ program, which offers permanent residency and an optional pathway to U.S. citizenship for $5 million per card, has reportedly witnessed a massive initial success. U.S. Commerce Secretary Howard Lutnick has claimed that the government sold 1,000 Gold Cards in a single day, generating $5 billion in revenue within 24 hours.
Lutnick made this statement on the ‘All-In Podcast’, where he revealed that the program is set to officially roll out in two weeks and that tech mogul Elon Musk is currently developing the software for it. "Just yesterday, I sold a thousand," Lutnick stated, suggesting a high level of demand from wealthy individuals around the world.
A Residency Without Global Tax Obligations
One of the key highlights of the Gold Card program is that holders will not be subject to U.S. global tax unless they choose to become full-fledged U.S. citizens. "If you are a U.S. citizen, you end up paying global tax. So, outsiders will certainly not come to the U.S. to pay global tax. But with a Gold Card, they can reside in America indefinitely, without becoming a citizen or paying global taxes," Lutnick explained.
The scheme allows wealthy individuals to purchase multiple Gold Cards for their family members, ensuring a safe and permanent option to enter the U.S. at any time. "If I were not an American and lived in any other country, I would buy six Gold Cards—one for me, one for my wife, and one for my four children. If some disaster happens, I want the option to fly to America and be welcomed ‘home,’" Lutnick elaborated.
According to internal research conducted with the Trump administration, 37 million people worldwide have the financial capacity to purchase a Gold Card. President Trump reportedly believes that the U.S. government could sell up to one million of these visas, which would generate $5 trillion in revenue.
Economic Impact and Future Prospects
The revenue from the Gold Card scheme is expected to help reduce the U.S. fiscal deficit and national debt. Unlike traditional immigration programs, this initiative prioritizes financial contributions over skills or employment status. Trump has also declared that there will be no annual cap on the number of Gold Cards issued, making it a potential game-changer in U.S. immigration policy.
With $5 billion reportedly earned in just 24 hours, the program appears to be off to a remarkable start. However, experts are already debating its long-term implications, including concerns over national security, tax loopholes, and economic fairness.
Controversies and Criticisms
Critics argue that the Gold Card scheme may favor the ultra-rich while sidestepping traditional immigration requirements. There are also concerns about potential misuse and whether proper background checks will be conducted on applicants. Some lawmakers have questioned the ethics of selling U.S. residency as a commodity rather than granting it based on merit, skills, or humanitarian needs.
Despite these concerns, the Trump administration remains confident that the Gold Card program will continue to attract wealthy investors, boosting the U.S. economy and strengthening its global influence. If Lutnick’s claim holds true, this initiative could reshape U.S. immigration policies for years to come.
As the official rollout approaches, the world will be watching closely to see if this bold experiment in residency-for-investment lives up to its promise—or if it sparks further debate on wealth-based immigration policies.
(For more news, apart from the news of US Gold Card Scheme Off to a Flying Start? 1,000 Sold in a Day, Says Commerce Secretary, stay tune to Rozana Spokesman )