Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
US Sells $5M Gold Visa Residency Cards to Ultra Rich
Financial Policy, Immigration | Feb 26, 2025
Image: Freepik/fanjianhua
Trump’s $5M ‘Gold Card’ Visa Lets Wealthy Foreigners Buy U.S. Residency
On Feb 25, 2025, President Donald Trump announced his 'Trump Gold Card' visa at a press briefing in the Oval Office. The new gold visa card is a new U.S. residency program that would grant foreign nationals citizenship if they are willing to invest $5 million USD. The new visa replaces an existing EB-5 visa program, requiring investments as low as $800k in distressed areas. Trump supports laud the initiative as a way to attract wealthy, successful individuals whose investment initiatives and taxes will boost the economy while critics argue that it prioritizes financial status over traditional immigration values.
Perspectives on the Gold Card Visa
See: Global Competition Review: Key FDI Trends
Help the Economy or Just Selling Visas?
Supporters say the program could bring trillions into the U.S. with Trump claiming one million visas could generate $5 trillion. They argue it will boost spending, tax revenue, and jobs.
A Big Change in U.S. Immigration policy
Critics say selling visas goes against the U.S.'s traditional approach, focused on skilled workers, family reunification, and helping those in need.
U.S. Taxes Apply Everywhere
The U.S. taxes both citizens and permanent residents on all income, regardless of where it’s earned. This means new "Gold Card" visa holders would have to pay U.S. taxes on money they make anywhere in the world. Some investors worry that after paying $5 million for a visa, the extra tax burden might not be worth it.
Fintech Role?
This initiative straddles financial policy and immigration strategy rather than being a pure financial service. While it involves money, it is fundamentally an immigration program designed to attract high-net-worth individuals.
See: Founder Salaries: Insights from Europe, U.S., and Canada
Fintech innovators could play a role in streamlining applications, securing transactions, and automating vetting processes but it is not central to the policy.
How the U.S. "Gold Card" Visa Compares to Other Residency Programs
Many other countries offer residency or e-residency programs that are designed to attract entrepreneurs and investors but they cost significantly less and differ in requirements and benefits, such as Canada, Portugal, the UAE, and Estonia.
1. Canada’s Start-Up Visa (SUV) – No Personal Investment Required
Canada's Start-Up Visa program focuses on attracting innovators and does not require applicants to put up their own money. Instead, they must secure funding from a Canadian venture capital firm, an angel investor, or a business incubator with the aim of bringing in talented founders who will create businesses and jobs in Canada. Unlike the U.S., Canada doesn’t tax permanent residents on income they earn outside the country.
2. Portugal’s Golden Visa (from €500K+ Investment)
Portugal’s Golden Visa program offers residency to non-EU nationals who make a qualifying investment in the country. There are three ways to qualify: transferring at least €1 million into a Portuguese bank or investment fund, creating at least 10 full-time jobs, or buying real estate worth €500,000 or more. Portugal only requires golden visa holders to live there for just a few weeks a year to maintain the visa (not full time). After five years, Golden Visa holders can apply for permanent residency or Portuguese citizenship. This makes Portugal one of the most flexible options for investors looking for a pathway to EU citizenship with minimal stay requirements.
3. UAE’s Golden Visa (AED 2M+ Investment, No Income Tax)
The UAE’s Golden Visa is another popular option for those looking for a tax-free environment. Investors can obtain long-term residency by purchasing property worth at least AED 2 million (about $545,000 USD). There’s no requirement to live in the UAE full-time and there’s no personal income tax, making it an attractive choice for global entrepreneurs who want residency without tax obligations.
4. Estonia’s E-Residency – EU Digital Business Presence, No Physical Residency
For those who don’t necessarily want residency but want/need an international business presence, Estonia’s e-Residency program offers a unique solution. Instead of providing a visa, it gives non-residents a way to start and run a company remotely within the European Union. With an Estonian e-residency, entrepreneurs can access banking services, sign documents digitally, and operate in the EU without needing to live in Estonia. Unlike the U.S., Canada, or Portugal, this program isn’t about moving to the country but about making it easier to do business internationally.
Conclusion
Looking at these programs side by side, the U.S. "Gold Card" visa is by far the most expensive, and its global tax obligations make it less competitive compared to options like Portugal’s low cost residency, Canada’s innovation-driven approach, or the UAE’s tax-free benefits. Estonia offers a completely different angle by allowing business access without requiring relocation.
See: WEF Forecasts 92 Million Global Digital Jobs by 2030
While the "Gold Card" may appeal to ultra wealthy individuals seeking U.S. status, for those focused on lower costs, financial benefits and flexibility, other countries may offer better deals. This is one to watch the uptick, and adjust financial/immigration policies accordingly to compete for global talent and foreign direct investment.
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