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Donald Trump’s ‘Gold Card’ or ‘Golden Visa’ initiative, which grants permanent residency and optional US citizenship for a hefty $5 million per card, appears to be making waves.
If US Commerce Secretary Howard Lutnick’s statement is accurate, the program is already proving to be a blockbuster. According to Lutnick, 1,000 Gold Cards were sold in a single day, signaling immense interest in the scheme.
A High-Profile Rollout with Tech-Backing
The Commerce Secretary revealed that the program is set to be officially launched in about two weeks. He credited Elon Musk with developing the necessary software to facilitate the initiative.
Speaking on the ‘All-In Podcast,’ Lutnick stated, “Elon Musk is building the software for it right now, and then it goes out in about two weeks… and by the way, just yesterday I sold a thousand.”
The Allure of Tax-Free Residency
One of the biggest selling points of the Gold Card is its tax implications—or lack thereof. Lutnick explained, “If you are a US citizen, you end up paying global tax. So, outsiders will certainly not come to the US to pay global tax. So, if you have a Green Card, now Gold Card, you will be a permanent resident of America (without paying tax).”
🇺🇸 The US sold 1,000 “golden visas” at **$5 million each** in just one day, said Commerce Secretary Howard Latnik. This brought the country a colossal **$5 billion**. The program, which grants investors the right to reside, is in extremely high demand. pic.twitter.com/D4DfHC8QAT
— Teplitsa for business (@Teplitsa_) March 21, 2025
He further noted that while cardholders have the option to pursue US citizenship, many are expected to decline in order to avoid global taxation.
Lutnick elaborated on the appeal of the program, emphasizing the security and convenience it offers high-net-worth individuals. “What they going to have, is to have the right to be in America (indefinitely, and at any time they want) by paying $5 million. They will be vetted, so they will be good people—those who will abide by the law. The US can always revoke it if they are evil or indulge in illegal activity.”
A Market of Millions & A Potential Fiscal Windfall
Citing research conducted under the Trump Administration, Lutnick claimed that “there are 37 million people in the world who are capable of buying the Gold Card.”
With President Trump reportedly optimistic about selling up to a million of these cards, the potential revenue stream is staggering. The funds generated from this initiative are expected to help alleviate the US fiscal deficit and national debt.
When unveiling the program, Trump made it clear that there would be no cap on the number of Gold Cards issued. If Lutnick’s claim of 1,000 sales in a single day holds true, that translates to a whopping $5 billion in revenue within just 24 hours—a figure that could mark the beginning of a major financial boost for the US government.
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