Trump Proposes ‘Gold Cards:’ A $5 Million Path to Global Citizenship

In an era where borders are increasingly controlled and immigration policies are tightening, a select group of wealthy individuals has found a way to bypass traditional immigration routes: by purchasing citizenship or residency. This practice, known as Citizenship by Investment (CBI) or Golden Visas, allows individuals to gain residency or citizenship in exchange for substantial economic contributions.

Recently, current U.S. President Donald Trump proposed an ambitious “Gold Card” program that would allow foreigners to buy American citizenship for a hefty $5 million investment. This proposal, while unprecedented in the U.S., is not new on the global stage. Countries around the world, from Europe to the Caribbean and the Pacific, have long offered similar schemes.

In this article, we will explore the Trump proposal, examine how similar programs work in other countries, and analyze the global implications of selling citizenship.

Trump’s $5 Million Citizenship Proposal: A Game-Changer?

On Tuesday, February 25th, 2025, while he was signing executive orders, Trump floated the idea of a “Gold Card” initiative that would grant U.S. citizenship to wealthy foreigners who invest at least $5 million in the country. This proposal mirrors existing “Golden Visa” programs in nations like Portugal and Malta, where foreign investors can fast-track their residency or citizenship status.

Trump’s plan, if implemented, could serve as a major revenue stream for the U.S. government. Given the high price tag, it would likely target ultra-high-net-worth individuals, particularly from regions with weaker passports or political instability. However, critics argue that selling U.S. citizenship could lead to security risks and allegations of favouritism, while also raising ethical concerns about whether nationality should be commodified.

The proposal has not yet gained formal traction, but it highlights a growing trend: governments worldwide increasingly view citizenship as an economic asset.

Golden Passports and Residency Programs Worldwide

The United States is far from the first country to consider selling citizenship or residency. Over 60 countries offer some form of Golden Visa or Citizenship by Investment program, each with its own price tag and set of requirements.

1. The Caribbean Model: Fast-Track Citizenship

Caribbean nations have some of the most popular CBI programs, offering quick citizenship with relatively low investment requirements.

• St. Kitts & Nevis: This island nation introduced the world’s first formal CBI program in 1984. Investors can obtain citizenship by contributing $250,000 to the Sustainable Island State Contribution fund or investing $400,000 in real estate.
• Dominica: Known for its affordability, Dominica grants citizenship for as little as $100,000 in government donations or $200,000 in real estate investment.
• Antigua & Barbuda: Citizenship costs start at $130,000, and applicants must spend at least five days in the country over five years.

These programs attract investors looking for visa-free travel benefits (many Caribbean passports offer visa-free access to the EU and the UK) and a tax-friendly environment.

2. Europe’s Golden Visa Programs: Residency First, Citizenship Later

In Europe, countries typically offer Golden Visas rather than outright citizenship. These allow investors to gain residency, with the possibility of citizenship after several years.

• Portugal: One of the most popular programs, Portugal’s Golden Visa requires a €500,000 real estate investment (or less in some cases) and grants residency, leading to citizenship in five years.
• Greece: For just €250,000 in real estate investment, investors can gain permanent residency, making Greece one of the cheapest options in the EU.
• Malta: Malta offers direct citizenship for a hefty €600,000 donation to its national fund, plus additional property investments.

While these programs provide access to the EU’s Schengen Zone, they have faced scrutiny. The EU has pressured countries to shut down these schemes due to concerns about corruption and money laundering.

3. The Middle East and Asia: Residency for the Wealthy

Some Middle Eastern and Asian countries have introduced Golden Visas to attract talent and foreign capital.

• United Arab Emirates (UAE): The UAE now offers 10-year Golden Visas for professionals, investors, and entrepreneurs. The investment requirement varies, with a general threshold of 2 million AED (~$545,000).
• Saudi Arabia: In 2024, Saudi Arabia introduced five new residency initiatives targeting investors in healthcare, sports, and real estate.
• Singapore: The Global Investor Program grants permanent residency for investments of at least SGD 2.5 million (~$1.85 million).

These programs aim to boost local economies while ensuring that only high-net-worth individuals gain entry.

4. Vanuatu: A Controversial Passport-for-Sale Program

Vanuatu, a Pacific island nation, runs one of the most controversial CBI programs. The scheme has contributed up to 50% of the government’s revenue in some years. However, concerns about lax background checks led the EU to revoke visa-free access for Vanuatu passport holders in 2022. The UK followed suit in 2023, citing security risks.

Despite this, Vanuatu continues to sell citizenship, arguing that the revenue is essential for funding hospitals, education, and disaster relief efforts.

The Downsides of Citizenship for Sale

While these programs generate billions in revenue, they are not without controversy.

1. Security Risks and Corruption

Many CBI programs have been criticized for allowing criminals and politically exposed individuals to gain new passports. In some cases, international criminals have used golden passports to evade justice.

2. Loss of National Integrity

Critics argue that nationality should be earned through cultural and social integration rather than bought. Countries like Canada and the UK have ended their Golden Visa schemes due to concerns over financial fraud and lack of economic benefits.

3. Diplomatic Consequences

Countries offering CBI programs have faced increasing pressure from global powers. The EU has cracked down on Malta’s and Cyprus’s citizenship programs, while the U.S. has threatened sanctions on nations deemed to be selling passports too freely.

Will the U.S. Join the Golden Passport Market?

Trump’s proposal for a $5 million citizenship buy-in would set the highest price tag for any CBI program in the world. While it remains speculative, its potential impact is clear:

• Revenue Boost: If even 1,000 people took advantage of the program yearly, it could generate $5 billion in direct investment.
• Global Prestige: U.S. citizenship remains one of the most sought-after in the world, and a Golden Passport could attract the ultra-wealthy from countries like China, Russia, and India.
• Ethical and Security Concerns: Granting immediate citizenship without a residency period could lead to backlash, particularly from political opponents and national security agencies.

The proposal would need congressional approval, making it unlikely in the short term. However, given the global rise of CBI and Golden Visa programs, it may only be a matter of time before the U.S. considers a similar approach.

The concept of buying citizenship is no longer just an economic loophole—it is a legitimate industry worth billions. From the Caribbean to Europe and Asia, governments are capitalizing on the demand for second passports. While Trump’s Golden Passport proposal may seem radical, it aligns with an existing global trend.

As more nations reevaluate their immigration policies, the debate over whether citizenship should be a privilege or a commodity will only grow stronger. Whether the U.S. joins the market or not, Golden Passports and Golden Visas are here to stay.