Elon Musk says Gold Visa is under ‘quiet trial’: What is it? How will Donald Trump's proposed card work?

Trump's ‘golden visa’: Billionare technocrat Elon Musk has confirmed that United States President Donald Trump's “gold card” visa program is being “quietly tested” to ensure if the system works properly.

In response to a user on social media platform X (formerly known as Twitter), Elon Musk wrote: “We’re doing a quiet trial to make sure the system works properly. Once it is fully tested, it will be rolled out to the public with an announcement by the President. (sic)”

Donald Trump's $5 million ‘Gold Card’ visa — What we know

In February, President Donald Trump said he is starting a program to offer investors paying $5 million “residency and a path to US citizenship”, called the “gold card” or gold card visa program, according to a Bloomberg report.

Donald Trump had then said that the program would launch in two weeks without approval from the US Congress, but immigration lawyers were sceptical. Now, months later, Elon Musk said the program is under “quiet trial”.

The US president did not give any details about the plan and how it would be implemented. He simply stated: “We’re going to be selling a gold card. We’re going to be putting a price on that card of about $5 million, and that’s going to give you green card privileges.”

How Would Proposed US Gold Visa Work?

According to US Commerce Secretary Howard Lutnick, this ‘Gold Card’ could replace the existing EB-5 program, which allows foreign investors and their immediate families to gain permanent residence by investing a certain amount toward an American business and creating or preserving at least 10 US jobs.

Speaking to reporters then, Donald Trump said that vetting parameters to qualify for the gold cards were under discussion, but the proposal is for individuals to pay the US government for citizenship, and this money can be used to pay down the debt.

On whether restrictions would apply to any nationalities, the real estate mogul said limits might not be nationality focused, but there would still be rules on which individuals could take part. “We want to make sure we have people that love our country and are capable of loving the country,” Donald Trump added.

Trump's Gold Visa: Good news for job seekers?

Defending the initiative, Donald Trump touted it as a way for American buisnesses to keep Ivy League students and other top performers in the country after they graduate.

“I get calls from, as an example, companies where they want to hire the No. 1 student at the school, person comes from India, China, Japan, lots of different places, and they go to Harvard to Wharton School of Finance, they go to Yale,” Donald Trump told reporters in February. He added that companies who struggle to retain talent due to uncertainty over the immigration status of some students, can buy their picks a ‘gold card’.

“These companies can go and buy a gold card, and they can use it as a matter of recruitment. I happen to think it’s going to sell like crazy. It’s a bargain,” he said.

What is the Criticism?

While Donald Trump believes the US can sell 1 million gold cards and raise $5 trillion from this route, immigration experts told Bloomberg that the number of people who could afford to take part in the program is far smaller.

Others expressed concern that giving the super-rich a fast-track to US citizenship could lead to compromises in the vetting process and affect security.

Bloomberg opinion noted that when asked about whether Russian oligarchs or such might take advantage of his gold card, Donald Trump admitted: “Possibly,” adding, “Hey, I know some Russian oligarchs that are nice people.”

(With inputs from Bloomberg)