Nearly 70,000 people around the world — including a rising number of wealthy Indians — have signed up for the proposed Trump Card, a $5 million US residency visa program promoted by former President Donald Trump and Commerce Secretary Howard Lutnick. The card, which promises permanent residency in exchange for a one-time investment, is attracting attention among Indian high-net-worth individuals (HNIs), especially professionals based in the US and Middle East. But despite the strong interest, immigration lawyers and policy experts say the visa may never become reality due to the absence of a legal framework and Congressional approval.
According to Lutnick, who is leading the initiative, the Trump Card aims to attract wealthy investors and business executives seeking permanent US residency. “It will be beautiful,” Lutnick told the Financial Times, describing a gold-plated card featuring Trump’s image, signature, and symbols like the Statue of Liberty. “Donald Trump appreciates these kinds of things. He cares about how it looks. He cares about how it feels.”
Trump unveiled a gold prototype of the card aboard Air Force One in April and launched an official waitlist website, trumpcard.gov, in June. Despite the promotional efforts, immigration law experts say there is no legal basis for the program to proceed without an act of Congress.
Indian HNIs explore line up, but caution remains
Immigration lawyers say interest from India is growing, particularly from tech, healthcare, and finance professionals based in the US and Middle East. “Nearly 50% of interest is probably coming from the Middle East and a few wealthy countries, many of which are home to sizeable Indian diaspora populations who may also factor into the program's uptake,” Sukanya Raman, country head at Davies & Associates, said to The Economic Times.
“Most of the interest so far is coming from professionals in the tech, finance, and healthcare sectors,” Prachi Shah, founder and managing attorney at a US-based law firm, told The Economic Times. However, she cautioned, “Without such filters, it is difficult to ascertain whether these registrants are genuinely interested and eligible, or simply curious.”
Indian firms also report client concerns around whether this new visa might disrupt or replace the current EB-5 investor visa, which requires a lower investment and currently remains active. “We are advising our clients that at this stage EB5 is live and kicking … also Gold Card can be a success only if it comes with no tax on global income,” Rajneesh Pathak, founder of Global North Residency and Citizenship, told The Economic Times.
Legal roadblocks in Washington
“There’s no lawful basis to do this, and if they do it anyway, they’re going to get sued, and they’re almost certainly going to lose,” Doug Rand, former adviser at US Citizenship and Immigration Services, told The Washington Post.
“The president does not have the authority to create a new visa category. I’m very dubious it can be done without an act of Congress,” George Fishman, former deputy general counsel at the Department of Homeland Security, told The Washington Post.
Congress has not introduced a new visa class in over three decades and is unlikely to support one now. “There’s zero appetite for people in Congress to consider this right now,” Alex Nowrasteh of the Cato Institute told The Washington Post.
Lutnick promotes Card abroad, but structure is undecided
Lutnick has also promoted the card during recent visits with Trump to Saudi Arabia, Qatar, and the UAE. “Whenever I meet with international executives, I always go through it with them and sell it to them,” he told the Financial Times.
The Commerce Department, State Department, and Homeland Security are reportedly expected to share vetting responsibilities. However, many structural elements — including taxation of cardholders and eligibility restrictions for applicants from certain countries — remain unresolved.
Lutnick said issuing 200,000 Trump Cards could generate $1 trillion for the US Treasury. For comparison, the EB-5 program — which issues about 14,000 visas annually with investments of up to $1.8 million — generated far less. Still, experts are skeptical that investors will pay five times more for a yet-to-be-approved visa.
No law, no application process — just a waitlist
At present, trumpcard.gov only accepts basic sign-up information for a waitlist. Applications can be submitted individually or on behalf of businesses for 10 or more people. Trump posted on Truth Social: “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.”
But immigration lawyers warn Indian HNIs to wait until a legal framework is in place. “We are urging caution to our clients until the legislation framework is in place and full details are made available,” Keshav Singhania, of Singhania & Co, told The Economic Times.
“While the idea is gaining traction, it remains a proposal, not a legally recognised immigration pathway,” Alexander Jovy, an immigration lawyer, told The Economic Times.
According to Lutnick, who is leading the initiative, the Trump Card aims to attract wealthy investors and business executives seeking permanent US residency. “It will be beautiful,” Lutnick told the Financial Times, describing a gold-plated card featuring Trump’s image, signature, and symbols like the Statue of Liberty. “Donald Trump appreciates these kinds of things. He cares about how it looks. He cares about how it feels.”
Trump unveiled a gold prototype of the card aboard Air Force One in April and launched an official waitlist website, trumpcard.gov, in June. Despite the promotional efforts, immigration law experts say there is no legal basis for the program to proceed without an act of Congress.
Indian HNIs explore line up, but caution remains
Immigration lawyers say interest from India is growing, particularly from tech, healthcare, and finance professionals based in the US and Middle East. “Nearly 50% of interest is probably coming from the Middle East and a few wealthy countries, many of which are home to sizeable Indian diaspora populations who may also factor into the program's uptake,” Sukanya Raman, country head at Davies & Associates, said to The Economic Times.
“Most of the interest so far is coming from professionals in the tech, finance, and healthcare sectors,” Prachi Shah, founder and managing attorney at a US-based law firm, told The Economic Times. However, she cautioned, “Without such filters, it is difficult to ascertain whether these registrants are genuinely interested and eligible, or simply curious.”
Indian firms also report client concerns around whether this new visa might disrupt or replace the current EB-5 investor visa, which requires a lower investment and currently remains active. “We are advising our clients that at this stage EB5 is live and kicking … also Gold Card can be a success only if it comes with no tax on global income,” Rajneesh Pathak, founder of Global North Residency and Citizenship, told The Economic Times.
Legal roadblocks in Washington
“There’s no lawful basis to do this, and if they do it anyway, they’re going to get sued, and they’re almost certainly going to lose,” Doug Rand, former adviser at US Citizenship and Immigration Services, told The Washington Post.
“The president does not have the authority to create a new visa category. I’m very dubious it can be done without an act of Congress,” George Fishman, former deputy general counsel at the Department of Homeland Security, told The Washington Post.
Congress has not introduced a new visa class in over three decades and is unlikely to support one now. “There’s zero appetite for people in Congress to consider this right now,” Alex Nowrasteh of the Cato Institute told The Washington Post.
Lutnick promotes Card abroad, but structure is undecided
Lutnick has also promoted the card during recent visits with Trump to Saudi Arabia, Qatar, and the UAE. “Whenever I meet with international executives, I always go through it with them and sell it to them,” he told the Financial Times.
The Commerce Department, State Department, and Homeland Security are reportedly expected to share vetting responsibilities. However, many structural elements — including taxation of cardholders and eligibility restrictions for applicants from certain countries — remain unresolved.
Lutnick said issuing 200,000 Trump Cards could generate $1 trillion for the US Treasury. For comparison, the EB-5 program — which issues about 14,000 visas annually with investments of up to $1.8 million — generated far less. Still, experts are skeptical that investors will pay five times more for a yet-to-be-approved visa.
No law, no application process — just a waitlist
At present, trumpcard.gov only accepts basic sign-up information for a waitlist. Applications can be submitted individually or on behalf of businesses for 10 or more people. Trump posted on Truth Social: “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.”
But immigration lawyers warn Indian HNIs to wait until a legal framework is in place. “We are urging caution to our clients until the legislation framework is in place and full details are made available,” Keshav Singhania, of Singhania & Co, told The Economic Times.
“While the idea is gaining traction, it remains a proposal, not a legally recognised immigration pathway,” Alexander Jovy, an immigration lawyer, told The Economic Times.
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