Shortly after the introduction of the Gold Card programme in the United States, the international interest in the programme is waning. High investment sums are required from potential candidates, who are increasingly opting for cheaper alternatives in Europe.
Changes in the US visa policy
In February 2025, President Trump replaced the existing EB-5 visa with a new one. The US EB-5 visa programme allowed candidates to obtain the permanent residency in the US in exchange of USD 800,000. In 2024, before the Trump administration took office, a record 14,169 EB-5 visas were issued. In general, the EB-5 visa was quite successful. Since its introduction in the 1990s, more than 137,000 wealthy investors settled in the United States in this way. Thanks to this visa, large sums of money were invested in the US economy.
The new Gold Card Program
In order to qualify for the new Gold Card programme, applicants must invest at least $5 million. Experts say this high financial threshold is the reason for the drop in applications.
Trump, enthousiastic about the Gold Card
When US President Donald Trump announced his Gold Card program, he stated that there would be millions of Gold Cards applications. Asked whether he would grant the Gold Card to Russian oligarchs, he replied: "Yes, maybe. I know some Russian oligarchs who are very good people....".
Economic Secretary Howard Lutnick, who said that all applicants would be screened, expected that 1 000 Gold Cards would be applied for in a single day, and that around 37 million people worldwide could afford to pay for this visa.
Growing interest in European Golden Visa programmes
Despite the high expectations of the US government, fewer and fewer candidates are applying for the the Gold Card for the United States. However, applications for European Golden Visa programmes are on the rise. An expert from Aston, a consulting firm that advises Golden Visa applicants, stated that few people will apply for the American Gold Card, due to its high price. The goal of reducing the US public debt through the proceeds of the Gold Card programme cannot be achieved in this way. Other countries offer similar programmes at a considerably lower price.
European countries such as Malta, Portugal, Hungary and Greece, among others, also offer permanent residence permits to wealthy investors. The Greek programme has been the most successful in recent months. In 2024, Greece received a record 9,289 applications. In Greece, investors can obtain a permanent residence permit for a price of 250,000 euros (and 500,000 euros in big cities). The large number of applications has now created a long waiting list for the approval of individual applications.
Americans apply en masse for the Greek Golden Visa
Between October and December 2024, the number of applications for the Greek Golden Visa programme from the US increased by more than 50%. This change occurred mainly after the US elections. In addition, the Spanish government announced the suspension of its Golden Visa programme as of 3 April 2025. It remains to be seen how this trend will evolve.
The Gold Card is not required for tourism and business travel.
If you do not plan to live and work in the United States permanently, you do not have to be a millionaire to apply for a visa. For tourist and business trips of up to 90 days, and for stopovers, most European travellers can apply for an ESTA. You can learn more about ESTA requirements here. It only takes a few minutes to apply. You do not need to indicate a precise place of residence or date of arrival. Once approved, the ESTA is valid for 2 years and can be used for multiple trips to the United States. At e-Visa.ie you can submit your application directly in English. Our visa specialists will check for a number of common mistakes.