President Trump's Gold Card is now sounding a lot more like a green card (lawful permanent residence).
The Executive Order (EO) issued on Friday, September 19, 2025 – https://lnkd.in/e5_9j3Se – relies on existing green card categories for those making a gift of $1 million to the United States under 15 U.S.C. 1522: the so-called EB1A for persons of extraordinary ability and the EB2 for those whose presence in the United States is in the national interest. For companies making a gift on behalf of an individual, the minimum is $2 million.
The Departments of Homeland Security of State, which bear responsibility for immigration functions, and the Department of Commerce, which is responsible for accepting the gifts, have 90 days to implement the Executive Order. These Departments are also ordered to consider expanding the Gold Card to the EB5 green card category for investors.
Gold Card applicants will, like other green card applicants, face annual quotas set statutorily by Congress. The EB1 and EB2 categories are currently both backlogged for those born in India and Mainland China.
Once approved, Gold Card holders, like other lawful permanent residents, will be US tax residents subject to income tax on their global income. The Trump Administration tacitly acknowledges this in its Trump Card website at https://trumpcard.gov/, which now also presents the option of a Platinum Card in addition to the Gold Card.
As currently presented, the Platinum Card will be available for a $5 million contribution, allowing Platinum Card holders to spend up to 270 days per year in the United States without being subject to U.S. taxes on non-U.S. income. Presumably the Platinum Card will be a temporary (nonimmigrant) visa rather than permanent residence, with changes to the Internal Revenue Code and Treasury Regulations needed to exempt Platinum Card holders from the current substantial presence test, under which those without green cards are still taxed as US tax residents if they spend sufficient time in the United States. The EO issued on Friday does not address the Platinum Card at all.
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