More than 68,000 people have already signed up for the Trump administration’s newly launched immigration initiative dubbed the Trump Card, a $5 million investment-based visa scheme that offers a potential path to US residency, Financial Times reported, citing Commerce Secretary Howard Lutnick.

The programme officially went live on June 12, 2025, following a promotional post by President Donald Trump on Truth Social, where he announced the launch of the registration website trumpcard.gov.

The digital application form asks for basic personal details such as name, email, and region.

“FOR FIVE MILLION $DOLLARS, THE TRUMP CARD IS COMING!” Trump posted, claiming that thousands were eager to participate and “ride a beautiful road in gaining access to the Greatest Country and Market anywhere in the World.”

A golden card and a golden pitch

According to Lutnick, the Department of Commerce’s dashboard showed 67,697 registrations as of Monday morning. “Within an hour, the number had jumped to 68,703,” he told FT.

He added that the digital card would be “made of gold” and designed to reflect the former president’s flair.

“Donald Trump appreciates these kinds of things. He cares about how it looks. He cares about how it feels,” Lutnick said, emphasising that the card was meant to represent the significance of the investment.

The initiative, he noted, was inspired by billionaire investor and Trump ally John Paulson, who suggested it as a way to generate revenue and chip away at the US’s $36 trillion national debt.

Key features of the Trump Card scheme

• Requires a $5 million investment for green card-like privileges
• Offers a potential path to US citizenship (specifics not disclosed)
• Includes a gold-plated digital card featuring Trump’s image
• Positioned as a luxury alternative to the existing EB-5 investor visa
• Lacks formal USCIS guidelines or legislative backing

Earlier this year, Trump likened the Trump Card to a “green card, but at a higher level of sophistication,” saying it would attract wealthy individuals willing to “buy” their way into the US.

Indian investors show early interest

India has emerged as a significant market for the programme. During a visit to New Delhi in May, Lutnick promoted the Trump Card at the US-India Strategic Partnership Forum’s Leadership Summit.

“I expect the Trump Card will create really an enormous opportunity for people to have the ability to come to America,” Lutnick said. “We are going to be incredibly successful in India.”

Legal clouds over the visa offering

Despite the administration’s claims that the initiative doesn’t require fresh legislation, legal experts remain unconvinced.

An internal memo from the US State Department’s legal team, accessed by Reuters, warned that the Trump Card poses a “high risk” of being blocked by the Office of Management and Budget or struck down in court.

The memo notes that the $5 million fee, far exceeding normal visa processing costs, “is contrary to settled Supreme Court precedent.”

Nicholas Mastroianni III, president of US Immigration Fund, expressed scepticism.

“The proposed Trump ‘Gold Card’ is not law. It has no legislative text, no USCIS framework, and no defined criteria around family eligibility, job creation, or adjustment benefits,” he said. “In contrast, the EB-5 program is well-established, over 30 years old, grounded in federal law, with over 100,000 green cards issued.”