Donald Trump's Gold Card Sees Rich Applicants Flock to 'Red Carpet Visa'
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources.
Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content.
President Donald Trump's $5 million "gold card" visa is attracting a surge of interest from ultra-wealthy investors seeking a fast track to U.S. citizenship through what has been dubbed a "Red Carpet Visa."
Despite the lack of official launch details, immigration advisers and legal experts say inquiries are pouring in from high-net-worth people, particularly in Asia and the Middle East, eager to capitalize on Trump's latest overhaul of the immigration system.
Newsweek has contacted the Commerce Department for comment via email.
Why It Matters
In February, Trump proposed a gold-card visa program that would offer U.S. residency to people who invest $5 million in the country. Since returning to office on January 20, Trump has proposed sweeping changes to U.S. immigration policy and has moved to limit other immigration pathways, with his administration pausing the processing of some green-card applications, ending the temporary legal status of certain migrant groups, and halting student visa applications.
President Donald Trump holds up the $5 million gold card as he speaks to reporters while on Air Force One on April 3, 2025.
President Donald Trump holds up the $5 million gold card as he speaks to reporters while on Air Force One on April 3, 2025.
Pool via AP
What To Know
Dominic Volek, group head of private clients at international investment migration advisory firm Henley & Partners, told Newsweek that interest has surged from affluent people in Asia.
"We have already received genuine and committed interest from clients across our more than 60 offices worldwide, particularly UHNWIs in Asia, with affluent Indian and Bangladeshi nationals expressing a keen interest to apply at an exclusive event we held in Singapore last week," Volek said.
While the White House has yet to confirm when the program will officially launch, inquiries are surging, experts said.
Ashok Kumar Adusumilli, director of EB5Resources.com, noted a spike in interest from longtime Indian entrepreneurs living in Dubai.
"I have received a handful of inquiries from entrepreneurs based in Dubai, primarily of Indian origin who have been residing in the UAE for over 20 years," Adusumilli told Newsweek.
He added that investors are also seeking clarity on whether the $5 million investment threshold applies per family or individual.
Florian Demmler, chief marketing officer at WINHELLER GmbH, a German-based law firm that specializes in U.S. work visas, told Newsweek that they are receiving inquiries on a "daily basis."
"We have many inquiries on the Gold Card," Demmler said. "On a daily basis, we are answering calls and mails from around the world. We have a lot of influx from all possible regions of the world, across all continents."
Implementing the policy would require a major amendment to the Internal Revenue Code—specifically, the creation of a new taxpayer category separate from existing classifications like U.S. citizens, green-card holders and those meeting the substantial presence test, all of whom are taxed on their global income.
Such a change cannot be made through executive order; it would require formal legislation passed by both chambers of Congress. So far, no such provision is included in Trump's "big, beautiful bill" currently under debate on Capitol Hill.
What People Are Saying
Florian Demmler, chief marketing officer at WINHELLER GmbH, told Newsweek: "We also have inquiries from the USA, especially by people who apparently already have valid residence permits but want to 'upgrade' their residence authorization. Most often, people ask, if they can apply already. They also ask, how high the investment should be and which documents they must provide."
Ashok Kumar Adusumilli, director of EB5Resources.com, told Newsweek: "One potential investor was particularly interested about the zero tax obligations on global income and wanted to know whether the gold card would allow for part-time residency in the U.S. without the physical presence requirements typical of green-card holders. This concern stemmed from reports of green-card holders being questioned or detained at U.S. ports of entry after extended stays abroad. Another inquiry centered on whether the proposed $5 million investment threshold would apply per family or individual.
"At this time, the specifics of the gold-card program remain unclear, and we are waiting for a proposal or bill from Congress or the Trump administration for more concrete details."
Abigail Jackson, a White House spokesperson, told Newsweek: "President Trump is a businessman and innovator who is always looking for new ways to bring investment back to the United States and encourage legal immigration."
What Happens Next
Despite the buzz, the specifics of the gold-card program remain under wraps. There is no formal proposal or legislation yet from Congress or the Trump administration.
As legal professionals field global inquiries, the administration faces mounting questions to clarify the launch date.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
17 minutes ago
- Yahoo
What the Trump-Musk Feud Means for SpaceX and NASA
The U.S. government relies on SpaceX to support NASA and other agencies, and the company has received more $20 billion in federal contracts for it. As Musk and Trump threaten to cut ties, here's what that would mean for the U.S.'s space ambitions.
Yahoo
21 minutes ago
- Yahoo
DHS wants National Guard to search for and transport unaccompanied migrant children
A Department of Homeland Security request for 21,000 National Guard troops to support "expansive interior immigration enforcement operations" includes a call for troops to search for unaccompanied children in some cases and transport them between states, three sources briefed on the plan tell NBC News. Having National Guard troops perform such tasks, which are not explained in detail in the DHS request, has prompted concern among Democrats in Congress and some military and law enforcement officials. The tasks are laid out in a May 9th Request for Assistance from the Department of Homeland Security to the Pentagon. The document states that, 'this represents the first formal request by U.S. Immigration and Customs Enforcement (ICE) for the deployment of National Guard personnel in support of interior immigration enforcement operations.' The request calls for National Guard troops to be used for 'Search and Rescue for UACs [Unaccompanied Alien Children] in remote or hostile terrain,' and 'Intra- and inter-state transport of detainees/ unaccompanied alien children (UACs)," without clearly explaining what that would entail. Most of the troops, about 10,000, would be used for transporting detained individuals, the DHS said. Roughly 2,500 troops would be used for detention support but the document does not specify where. Another 1,000 troops would be assigned to administrative support, such as processing detainees. The request also asks for up to 3,500 troops to 'Attempt to Locate — Fugitives' and to conduct 'surveillance and canvassing missions,' as well as 'night operations and rural interdictions.' It also asks for support for ICE in 'joint task force operations for absconder/fugitive tracking,' according to the three sources familiar with the plans. NPR first reported the details of the DHS request. Democrats in Congress and military and law enforcement officials have expressed concern about the use of National Guard troops to perform what they say are civilian law enforcement duties. One characterized the plan as the Trump administration 'finding a way to get the National Guard into the streets and into American homes,' saying, 'I fear it's going to look like a police state.' A second source said, 'Trump has said he wants to use the National Guard for law enforcement, and the Pentagon and other entities have always said, 'Oh, don't worry, it will never come to that.' But this is it.' Defense officials say the request has not been approved and is being evaluated by Pentagon policy officials, the General Counsel's office, and other Pentagon leadership. The officials say the most likely course of action would be for some parts of the request to be approved and others rejected. But one source briefed on the plans said that Secretary of Defense Peter Hegseth is close to approving some elements of the request and considering which state governors to approach first regarding National Guard units. 'We are so much closer to this being real,' said the source, who spoke on condition of anonymity. DHS is requesting the National Guard troops under Title 32 status, which means they would remain on state active duty under the command of their governor but would be federally funded. Title 32 status generally allows National Guard troops to conduct law enforcement activities without violating the Posse Comitatus Act, an 1878 law that bars the use of federal troops in law enforcement operations. A National Guard member who opposes troops performing such tasks told NBC News, 'I plan to leave the National Guard soon over this.' The Pentagon is also being asked by DHS to pay the full cost of deploying the 21,000 National Guard troops. That comes amid growing tension between the Pentagon and DHS over the cost of border and other immigrant-related operations. The DHS request for National Guard troops arrives when the Pentagon is already footing a $23-million-a-month bill to hold as many as 2,500 undocumented immigrants in a military facility in Texas. Defense officials say they are frustrated that the camp is holding far fewer individuals than they were told to expect and they would like a reprieve. The Defense Department is in a contract with the DHS to help support DHS and Immigration and Customs Enforcement, or ICE, officers who are under pressure from Deputy White House Chief of Staff Stephen Miller to arrest 3,000 undocumented immigrants a day. But it has been slow going for ICE agents, resulting in fewer arrests of undocumented immigrants across the country. That has resulted in many empty beds at facilities like the one in El Paso, owned and operated by the Defense Department. Military officials say the facility has been holding an average of 150 undocumented immigrants each day over the last several weeks — a fraction of its 2,500 beds. On one recent day, they said, the facility housed fewer than 80 people. Pentagon officials are asking to cut the number of beds in the facility from 2,500 to about 1,000, which they say would save $12 million per month. It is not clear if the DHS request for National Guard troops will increase the need for beds in the El Paso facility. The DHS request also comes as the Pentagon is struggling to fund critical projects to support U.S. troops. 'Congress is aware that the department is redirecting funds from existing military construction projects like barracks improvements for lower enlisted personnel and longstanding infrastructure projects elsewhere in the world in favor of southwest border missions,' a Senate aide who spoke on condition of anonymity told NBC News. 'They are pretty frustrated with the way that the department is ordering them to support DHS out of their own pockets for a grossly disproportionate cost compared to what ICE facilities would cost the government,' added the aide, referring to military officials. Last month, the Pentagon notified Congress that it planned to transfer more than $1.74 million in the current DOD budget to the southwest border mission, as step that will take money away from renovating barracks and base facilities. Service member advocacy groups have criticized the move. Rob Evans, the founder of Hots&Cots, where services members can post reviews of barracks, dining areas and other facilities, says he sees evidence daily of barracks with sewage leaks, mold, failing HVAC systems, and more. 'When funding is pulled from this line, troops pay the price in real ways: delayed repairs, worsening conditions, and a growing sense that their well-being comes second to optics and operations,' Evans said. 'Service members deserve clean, safe, and dignified living conditions. They've earned at least that much.' This article was originally published on
Business Insider
22 minutes ago
- Business Insider
Trump Ready to Ditch His Tesla Car amid Musk Fallout: 'I Might Just Get Rid of It'
WASHINGTON — June 7, 2025 President Donald Trump is distancing himself from Elon Musk—publicly and materially. According to The Washington Post, Trump has told aides in recent days that he is considering selling or giving away the red Tesla (TSLA) Model S he purchased in March, a gesture that once symbolized his support for Musk. Confident Investing Starts Here: 'I might just get rid of it,' Trump told aides, according to a senior White House official who spoke on the condition of anonymity. The car, still parked near the White House as of this week, has become a visible casualty of the rapidly souring relationship between Trump and Musk. The split followed Musk's harsh criticism of the administration's latest domestic policy bill, which he publicly called a 'disgusting abomination.' That comment triggered a sharp response from the president, both publicly and privately. On Air Force One, when asked by a reporter about Musk's alleged drug use, Trump replied: 'I don't want to comment on his drug use. I don't know what his status is.' 'I read an article in The New York Times. I thought it was, frankly, it sounded very unfair to me.' But privately, Trump has reportedly told associates that Musk is 'crazy' and blamed his behavior on drug use, according to The New York Times. Musk Gave No Public Comment on the Car—But a Hint at Peace? As of Saturday afternoon, Elon Musk has not issued any public statement specifically addressing Trump's decision to unload the Tesla. However, he did respond to a suggestion from investor Bill Ackman on X that the two men should reconcile for the good of the country. 'You're not wrong,' Musk replied—his only recent public comment that could be interpreted as a gesture toward de-escalation. Beyond that, Musk has been active on X in recent days, directing criticisms at others, including Steve Bannon and critics of Tesla, but has avoided commenting directly on Trump's actions regarding the car or federal contracts. Trump Weighs Tesla Breakup The sale—or symbolic disposal—of the Tesla would mark a final, visual severing of a political and personal alliance that once had significant policy weight. Musk had been one of Trump's most prominent business backers, and the March purchase of the Model S was, at the time, framed by aides as a nod of approval to the entrepreneur's role in the administration. Now, according to officials, the car is being referred to inside the West Wing as a political relic. And while no final decision has been made, staff say it's become a quiet but pointed symbol of Trump's intent to distance himself from Musk for good. Trump himself, speaking about Musk during a press gaggle on June 6, said: 'I'm very disappointed in Elon. I've helped Elon a lot.' Whether the car is sold, donated, or simply removed from view, it now stands as a monument to one of the most dramatic falling-outs in recent political history. Is Tesla Stock Still a Buy? Meanwhile, Wall Street isn't exactly bullish on Musk's flagship automaker. According to TipRanks, Tesla currently holds a 'Hold' rating based on 37 analyst reviews over the past three months. It's a split camp: 16 analysts rate it a Buy, 10 say Hold, and 11 recommend Sell — a clear reflection of the uncertainty swirling around the company. The market seems just as cautious. The average 12-month price target for TSLA is $284.37, suggesting a 3.7% downside from its current level.
