Immigration Law
On September 19, 2025, President Trump issued Executive Order 14351, “The Gold Card,” establishing a new pathway for foreign nationals who make a substantial financial gift to the U.S. government. The program directs the Departments of Commerce, State, and Homeland Security to develop an expedited immigrant visa process for these donors. While positioned as a fast-track opportunity for high-net-worth individuals, the order’s framework raises significant legal and practical questions that potential applicants should understand before taking any steps.
Under the Executive Order, the “Gold Card” would allow foreign nationals to qualify for immigrant visas by making a voluntary and unrestricted financial gift to the U.S. government through the Department of Commerce. According to the administration, these contributions will be deposited into a Treasury account to promote American commerce and industry.
The required contributions are as follows:
The program aims to generate $100 billion in revenue to reduce national debt and lower taxes, according to public statements by the Department of Commerce. Applicants will be able to express their interest by registering on the official portal trumpcard.gov, though no application forms or procedures have yet been published.
The Gold Card program is not a new statutory visa category. Rather, the executive order instructs agencies to treat the financial gift as evidence of eligibility under existing EB-1 (priority worker) or EB-2 National Interest Waiver (NIW) categories. This means that, in practice, the “gift” may serve as an additional criterion demonstrating extraordinary ability, national interest, or contribution to U.S. economic development.
The absence of formal regulatory language means this interpretation exists solely under executive authority, not Congressional statute. Because visa numbers will be drawn from the EB-1 and EB-2 categories, the introduction of the Gold Card program could reduce visa availability for traditional applicants in those classifications, potentially lengthening wait times or causing visa retrogression in the coming fiscal years.
Executive Order 14351 requires the relevant agencies to implement the Gold Card program within 90 days—by December 19, 2025. While operational details remain pending, the order specifies coordination among three departments:
The order also anticipates additional administrative fees for expedited processing and for corporate transfers of the “gift” between employees. Corporations contributing $2 million on behalf of foreign employees may transfer the benefit without paying a new fee.
It is important to distinguish the Gold Card immigrant visa from the long-standing EB-5 Immigrant Investor Program. The EB-5 program, created by Congress in 1990, requires a capital investment of $800,000 to $1,050,000 in a commercial enterprise that creates at least 10 full-time U.S. jobs. The EB-5 process is highly regulated, involves comprehensive source-of-funds review, and relies on measurable job creation and economic benefit.
By contrast, the Gold Card requires an unrestricted gift—not an investment—and offers no direct obligation to generate jobs or engage in business activity. Instead, the donation itself is deemed evidence of national benefit. This distinction underscores the fundamental legal difference between an investment-based visa (authorized by Congress) and an executive-created donation program relying on administrative interpretation of existing visa categories.
The administration has confirmed that Gold Card recipients will receive immigrant visa numbers from the EB-1 and EB-2 categories. This redirection could significantly affect employment-based applicants who have been waiting in line under these categories, particularly for nationals of countries with historically high demand, such as India and China.
For EB-1 and EB-2 applicants currently awaiting visa availability, the reallocation of visa numbers to high-net-worth donors could exacerbate existing backlogs and retrogression, especially if the program attracts significant participation. Practitioners anticipate that the Department of State’s Visa Bulletin will begin reflecting these changes once implementation begins.
The official Gold Card website also references a higher-tier program—the “Trump Platinum Card.” According to preliminary information, a $5 million gift would grant foreign nationals the ability to spend up to 270 days in the United States annually without being subject to U.S. taxation on non-U.S. income. No legal or tax regulations have yet been issued to confirm how such provisions would operate under existing IRS rules.
Until detailed regulatory guidance is released, foreign nationals should be aware that this claim is not yet supported by any statutory or Treasury regulations.
Although the Executive Order sets a clear policy direction, numerous aspects remain uncertain:
Until agencies publish formal guidance, the legal mechanics of how a donation translates into visa eligibility remain speculative.
For prospective investors exploring U.S. immigration routes, the Gold Card program represents a dramatic shift in tone and policy—but also a high degree of uncertainty. Those interested in long-term residency through investment may still find the EB-5 Immigrant Investor Program to be the most established, statutorily authorized option with well-defined criteria and case law support.
If implemented, the Gold Card could appeal to individuals seeking a fast-track solution without the commercial risks of EB-5 projects. However, without published regulations, applicants will need to proceed cautiously once the application process opens.
By December 19, 2025, the Departments of Commerce, State, and Homeland Security are expected to announce:
Until those details are made public, potential applicants can sign up for updates through the official portal (trumpcard.gov) and follow verified government sources for announcements.
If you are considering U.S. residency through investment or professional contributions, my team at SG Legal Group can help evaluate which options best align with your goals. We advise clients on EB-1, EB-2 NIW, and EB-5 filings and closely monitor emerging policies such as the Gold Card immigrant visa.
Consultations are available in English, Russian, or Romanian. Call 410-344-7100 or visit our Contact page to schedule a consultation.
References:
Oleg Gherasimov, Esq.
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