Trump's $5M 'golden visa' draws nearly 70,000 sign-ups before launch

Dubbed the "Trump Card," the high-end visa scheme promises U.S. residency in exchange for a $5 million investment. As of June 16, nearly 70,000 people had pre-registered through a government-run website, the Financial Times reported.

The Trump Card's design is as bold as its branding: a gold-colored document emblazoned with Trump's face, signature and patriotic motifs.

"It will be beautiful," said U.S. Commerce Secretary Howard Lutnick, who is spearheading the initiative. "Donald Trump appreciates these kinds of things... he deeply cares about how it looks and how it feels."

The idea reportedly originated from billionaire Trump ally John Paulson as a strategy to both attract foreign capital and chip away at America's staggering $36 trillion national debt. According to Lutnick, issuing 200,000 of these visas could raise $1 trillion, the Sri Lanka Guardian reported.

In just one hour on June 16, registrations for the card jumped by more than 1,000. The program is expected to appeal to wealthy individuals and business owners seeking legal U.S. residency, either for themselves or their employees.

It is being positioned as a successor to the EB-5 visa, which currently offers green cards in exchange for minimum investments ranging from $800,000 to $1.8 million. About 14,000 EB-5 visas were issued in 2024.

Lutnick said he hopes to fast-track the Trump Card, aiming for a summer rollout that could see tens of thousands issued within months.

Still, critical policy details remain in flux. Key questions include which nationalities will be eligible, how applicants will be vetted, and what kind of tax obligations cardholders will face.