Trump’s $5 Million ‘Golden Visa’ Faces Legal Hurdles and Investor Hesitation
Until Congress passes authorizing legislation and federal agencies define eligibility, screening procedures, and citizenship timelines, the “Gold Card” remains legally inert, say immigration attorneys interviewed by both The Washington Post and The Daily Beast.
ERBIL (Kurdistan24) — When U.S. President Donald Trump announced a new $5 million “Golden Visa” program earlier this year — aimed at offering American citizenship to ultra-wealthy foreigners willing to invest in the United States — the proposal made international headlines. But months later, despite a waitlist reportedly exceeding 70,000 names, not a single individual has completed an application or paid the fee, according to The Daily Beast.
The initiative was rolled out via a government-sponsored website (trumpcard.gov) and billed as a fast-track citizenship path for high-net-worth individuals. However, immigration experts immediately raised legal red flags, noting that the president cannot unilaterally create new immigration categories without Congressional legislation. “It’s political theater without legal teeth,” said Sarah Pierce, an immigration expert quoted by The Washington Post. “Creating a new visa category, especially one tied to citizenship, requires legislation. Right now, it’s just a public relations idea without operational legitimacy.”
Despite the administration’s promotion, the U.S. Citizenship and Immigration Services (USCIS) has not issued any official guidance or created a process to review applications, according to agency officials who spoke to The Daily Beast. As a result, the program currently lacks the legal or procedural infrastructure needed to function.
Further complicating matters, immigration lawyers are advising wealthy clients to stay away from the program, citing its undefined legal status and lack of clear benefits. “No one wants to become a test case for a visa program that may collapse legally or politically,” said Raul Hernandez, a New York-based immigration attorney, speaking to The Daily Beast. “Clients want certainty — not a $5 million gamble.”
Moreover, as reported by The Washington Post, investors are comparing the proposed ‘Golden Visa’ unfavorably to the existing EB-5 visa program, which requires a significantly smaller investment — typically $800,000 — and has a long-established pathway to lawful permanent residency.
The Trump administration has insisted that the initiative is part of its broader effort to modernize and incentivize legal immigration, but critics argue that the program is largely symbolic and politically motivated. “It’s about optics — projecting an image of exclusivity and economic dominance,” said one unnamed former Department of Homeland Security official in The Washington Post. “But there’s no policy machinery behind it.”
The Daily Beast reported that no guidance has been issued to consulates abroad on how to process inquiries, and no interagency coordination has taken place to support the rollout. One DHS official described the initiative as “a placeholder announcement in search of a policy.”
While the program’s supporters claim that demand is high — citing the 70,000-name waitlist — The Daily Beast clarified that the list reflects mere expressions of interest rather than real applicants. No payments have been made, and the system does not yet accept formal documentation or background checks.
Until Congress passes authorizing legislation and federal agencies define eligibility, screening procedures, and citizenship timelines, the “Gold Card” remains legally inert, say immigration attorneys interviewed by both The Washington Post and The Daily Beast.
Supporters of President Trump argue that the “Golden Visa” proposal reflects his administration’s broader vision of prioritizing merit-based and investment-driven immigration that strengthens the U.S. economy. They contend that while the rollout may be legally complex, the initiative sends a strong message that America is open to those who can contribute significantly to its growth.
To them, the plan is not just about offering citizenship for a price, but about redefining American immigration as a high-value exchange — one that aligns with Trump’s long-standing belief in putting American interests first while attracting global talent and capital.