Washington DC, March 25, 2025: U.S. President Donald Trump’s controversial ‘Gold Card’ or ‘Golden Visa’ program, which offers permanent residency and optional citizenship for a price of $5 million per card, appears to be an instant success, according to U.S. Commerce Secretary Howard Lutnick.
Speaking on the All-In Podcast, Lutnick claimed that 1,000 Gold Cards were sold in a single day, generating a staggering $5 billion in revenue. He further revealed that the program is expected to officially roll out in about two weeks, with billionaire entrepreneur Elon Musk currently developing the software infrastructure for its implementation.
Explaining the appeal of the scheme, Lutnick stated that unlike U.S. citizens, Gold Card holders would not be subject to global taxation. “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. With the Gold Card, you will be a permanent resident of America without paying tax on foreign income. You can choose to become a citizen, but you don’t have to—and most won’t, to avoid global tax obligations,” he said.
Lutnick also noted that the program is being positioned as an exclusive residency option for high-net-worth individuals. “Buyers will have the right to reside in America indefinitely by paying $5 million. They will be vetted to ensure they are law-abiding individuals, and the U.S. government will reserve the right to revoke the status in cases of illegal activity,” he said.
The Commerce Secretary estimated that around 37 million people worldwide have the financial capacity to afford the Gold Card, adding that Trump believes the U.S. can sell at least one million of them. The revenue generated from the program is reportedly intended to help reduce the country’s fiscal deficit.
Trump had earlier announced that there would be no cap on the number of Gold Cards issued annually. If the sales figures claimed by Lutnick hold true, the program could soon become one of the most lucrative residency-by-investment schemes in the world.
