Overview

• Commerce Secretary Howard Lutnick announced that the website trumpcard.gov will launch within a week, allowing wealthy foreigners to register interest in the $5 million 'gold card' visa program.
• The 'gold card' visa offers permanent residency and a pathway to U.S. citizenship for individuals who invest $5 million, replacing the EB-5 investor visa program.
• The administration projects the program could generate up to $1 trillion in revenue from 200,000 purchasers to help reduce the $36 trillion federal debt.
• Immigration law experts and some lawmakers, including Senator Rand Paul, caution that creating a new visa category requires congressional authorization.
• Strong interest in the program has been reported, with Lutnick stating that wealthy individuals, particularly from the Middle East, are eager to participate.