Does Trump's $5 million gold card guarantee American citizenship? Here's what US President says

US President Donald Trump launched a waitlist website for the latest visa programme, Trump Card, a ticket to permanent residency in the United States for foreigners who wish to make an investment of $5 million. Notably, this hefty $5 million investment will not guarantee citizenship in the US.

Trump's gold card a path for citizenship

While speaking to reporters in February, Trump clarified that he does not need approval from Congress to issue a gold card since it will not guarantee citizenship; nevertheless, it is a “strong path for citizenship”. However, Trump did not provide details regarding how the gold card will be a path to citizenship. In order to guarantee citizenship in the US, Trump explained that he would need the approval of Congress.

What is the most common way to get US citizenship currently?

One of the common ways to secure US citizenship currently is through naturalisation, which requires being a lawful permanent resident for at least five years. The applicant must be at least 18 years old, able to read, write and speak basic English according to their age group, and be of “good moral character”.

Trump's gold card waitlist

On Thursday, Trump announced the launch of the waitlist website for Trump Card. The website features a gold card with an image of Donald Trump with the name “The Trump Card”.

In his official Truth Social handle, he wrote, “FOR FIVE MILLION $DOLLARS, THE TRUMP CARD IS COMING! Thousands have been calling and asking how they can sign up to ride a beautiful road in gaining access to the Greatest Country and Market anywhere in the World. It's called THE UNITED STATES OF AMERICA! THE WAITING LIST IS NOW OPEN. To sign up, go to TRUMPCARD.GOV.”

Why is Trump's gold card important?

While describing the benefits of the gold card, Trump said, “We’re going to be putting a price on that card of about $5 million, and that’s going to give you green card privileges, plus it’s going to be a route to citizenship.”

He further added, “Wealthy people will be coming into our country by buying this card,” Trump said in February. “They'll be wealthy, and they'll be successful, and they'll be spending a lot of money, and paying a lot of taxes and employing a lot of people.”

Will Trump's gold card replace the EB-5 visa?

The US President previously announced that he wishes to replace the EB-5 immigrant investor visa programme, which provides green cards for foreigners who promise to invest in US businesses. Administered by USCIS, the EB-5 programme was launched in the 1990s with the aim of boosting “the US economy through job creation and capital investment by foreign investors.” Trump highlighted a similar goal with the gold card.