Trump's New Program: The 'Gold Card' for $1 Million Resurrects Global 'Millionaire Visa' Debate

In a move that has sparked widespread debate about fairness and national security, the Trump administration launched a new program on December 10, 2025, allowing wealthy individuals globally to obtain expedited U.S. residency in exchange for a payment of $1 million per individual, or $2 million if paid by a company on their behalf. Known as the 'Trump Gold Card,' this program comes at a time when Western governments are tightening traditional immigration policies while opening their doors wide to those who can afford it. What are 'golden visas,' and why do they face fierce criticism despite their prevalence in numerous countries?

What is the U.S. 'Gold Card'?

On September 19, 2025, President Trump signed an executive order allowing the issuance of expedited immigration visas for foreigners who donate $1 million as individuals or $2 million if paid by a company. The program's proceeds are directed to the U.S. Treasury to 'enhance American trade and industry,' according to the official wording. The administration began accepting applications on December 10, 2025.

The administration is also promoting a 'Platinum Card' priced at $5 million, which will allow holders to stay in the U.S. for up to 270 days annually without being subject to U.S. income tax on earnings made outside the country. As of December 11, the Platinum Card was listed on the government website as 'coming soon.'

'Golden Visa' vs. 'Golden Passport': What's the Difference?

Golden visas, or 'residency by investment,' grant individuals temporary or permanent residency in a country, allowing them to live and work there. Investments may include purchasing property, starting a business, or donating to a government fund. Often, the visa holder is not required to reside permanently in the country, making it a 'backup plan' for wealthy individuals seeking travel options without a physical move.

In contrast, a 'golden passport' is rarer and more valuable, granting full citizenship in exchange for a significant investment or direct payment to the government. Obtaining citizenship in an EU country, for example, means freedom to work, travel, and study in all 27 member states.

Where Can You Buy Citizenship for Under a Quarter Million Dollars?

Caribbean nations such as Antigua and Barbuda, Grenada, and Saint Kitts and Nevis offer some of the most competitive citizenship programs, with investment options starting from just $200,000 after the minimum was raised in 2024. Other countries offering similar arrangements include Egypt, Jordan, Montenegro, North Macedonia, and Austria, according to London-based consultancy 'Henley & Partners.'

In an exceptional case, the Pacific nation of Nauru is offering golden passports to help cover relocation costs for residents from low-lying homes threatened by rising sea levels and flooding.

Europe's Retreat: Why Are Countries Abolishing Golden Visa Programs?

The European Commission has long warned that golden visa programs expose the union to money laundering and national security risks. The war in Ukraine heightened these concerns, with governments fearing wealthy Russians might use these programs to evade sanctions.

The UK, Ireland, the Netherlands, Greece, and Spain have ended or significantly tightened their programs. In some cases, the decision was partly to address housing crises, although golden visa programs account for only a small percentage of real estate transactions in those countries.

Portugal Adjusts Its Most Popular Program

Portugal has modified its program - one of the most popular in Europe - by eliminating real estate investments as a basis for golden visa applications. By that time, about 90% of the funds raised by the Portuguese program had gone to real estate. The program attracted billions of euros to the real estate market and was very popular among Chinese investors, to the extent that advertising signs at Lisbon Airport were in Chinese. Recently, the program has gained popularity among American investors as well.

Currently, some options remain available in Portugal: investment in a qualified investment fund of at least €500,000, research activities, or investment in a company that creates 5 jobs or maintains 10 jobs.

Greece Raises the Bar, Caribbean Responds to European Pressures

Last year, Greece raised the minimum amount foreign property buyers must pay for a golden visa to €400,000 and expanded its program to include investors willing to inject at least €250,000 into local startups.

The cost of obtaining citizenship through investment in the Caribbean is rising, as these programs account for more than half of the national revenues of some small island nations. Some Caribbean passports allow visa-free travel to the UK and EU as part of bilateral agreements, raising concerns among European regulators about the use of these programs as gateways for criminals.

In response to pressures from the EU and the U.S., all five Caribbean countries offering golden passports - Dominica, Grenada, Saint Kitts and Nevis, Antigua and Barbuda, and Saint Lucia - agreed in 2024 to implement a minimum investment of at least $200,000. They have also increased due diligence and imposed stricter controls.

New Zealand Goes Against the Grain: Easing Rules to Attract the Wealthy

Contrary to the prevailing trend, New Zealand announced in early February 2025 that it would ease the requirements of its golden visa program in an effort to attract wealthy immigrants and help stimulate economic recovery following a severe recession in 2024. Plans include abolishing the English language test, expanding the range of acceptable investments, and modifying the required duration of stay in the country.

The island nation has seen 'extremely hot' interest in the golden visa program from wealthy individuals in the U.S. and Europe, as geopolitical tensions have prompted the wealthy to consider alternative options abroad, according to Immigration Minister Erica Stanford.

Who Buys Golden Visas?

Golden visas are often purchased by citizens from China, Russia, and Middle Eastern countries looking to live in Western Europe or the U.S. However, interest in these programs extends across nations: New Zealand's updated program has attracted the attention of wealthy individuals in the U.S. and Europe themselves, who are seeking backup plans in a turbulent world.

Criticism: Selling Citizenship to the Rich Deepens Social Divide

Opponents of the programs criticize them for entrenching inequality by granting opportunities to the wealthy that are denied to others, arguing that citizenship and residency are fundamental rights that should not be sold to the highest bidder. Law enforcement agencies also point out that these programs facilitate criminal activity and are rife with corruption.

Transparency International, an anti-corruption watchdog, has strongly criticized golden visas in the EU, warning that they create loopholes exploited by criminals and money launderers.

EcoPulse24 Analysis

The global spread of 'golden visa' programs reveals a stark contradiction in Western policies: strict tightening on regular immigration while opening doors for the wealthy. Trump's new program represents the pinnacle of this trend - where U.S. residency is explicitly sold for $1 million, at a time when millions of families face deportation procedures and bureaucratic mazes.

The economic dimensions are clear: these programs have attracted billions of dollars to countries like Portugal and Greece during the European debt crisis. In the Caribbean, they account for more than half of the national revenues of some small islands. For New Zealand, they represent a 'rescue plan' following the 2024 recession, and for Trump, a funding source for 'American industry' without Congress's approval for new taxes.

However, the social costs are steep: inflated property prices (90% of Portugal's funds went to real estate), absentee owners buying but not living in properties, and deepening the divide between the wealthy and the less fortunate. The most alarming concern is security: how can it be ensured that criminals or money launderers do not exploit these programs? The war in Ukraine highlighted this risk when Europe feared that sanctioned Russians would use these 'legal gateways.'

The general trend is contradictory: Europe is retreating led by the UK, Spain, and Greece, while America and New Zealand are expanding. The Caribbean, under European pressure, is raising prices and tightening oversight but will not abandon a vital source of income. The fundamental ethical question remains: is citizenship a commodity to be bought and sold? Or is it a right earned through belonging and contribution?

For wealthy investors: opportunities still exist, but the window is closing in Europe. New Zealand offers a new chance for anxious Americans and Europeans amidst geopolitical upheaval. Trump's program, despite its high cost, provides direct U.S. residency - a process that would traditionally take years through conventional channels.

In summary, the world of 'golden visas' is evolving rapidly - Europe is gradually withdrawing, while America and New Zealand fill the gap. The biggest winners? The wealthy who now have more options than ever to purchase a 'backup plan' in a turbulent world. The losers? The idea that citizenship and residency are rights, not privileges to be bought with money.