Trump's Gold Card: 50% applications may come from Middle East millionaires, says expert

There is “significant interest” from Middle Eastern millionaires in the US President Donald Trump’s newly announced Gold Card residency programme, according to Armand Arton, CEO of leading immigration investment firm Arton Capital.

Speaking to Khaleej Times, Arton said that individuals in the region are “very curious,” and that genuine interest has already emerged from potential applicants.

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On June 12, Trump announced that his administration is accepting applications for the so-called “Trump Card,” which offers permanent US residency in exchange for a $5 million (Dh18.35 million) non-refundable contribution. A dedicated website was launched to register interest, with over 70,000 people reportedly signing up in just a few days.

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“I don’t think we’ll see strong uptake from Europeans or Africans — perhaps a few Nigerians,” Arton said.

“There are wealthy individuals in CIS countries like Kazakhstan, Uzbekistan, and Azerbaijan who might be interested, but their countries don’t allow dual citizenship, similar to India and the Gulf."

"The real concentration of centi-millionaires and millionaires is in the UAE, Saudi Arabia, Singapore, China, and Hong Kong. I expect around 50 per cent of applicants will come from the Middle East — mainly non-GCC countries — because they tend to be more pro-Trump than many Asians or Europeans.”

Arton noted that individuals from countries currently banned from entering the US — including Afghanistan, Myanmar, Chad, Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Somalia, Sudan, and Yemen — are unlikely to be eligible for the programme.

He added that the Trump team is still finalising the legal framework, developing the application system, selecting a vetting agency, and determining payment procedures.

“I expect it will take longer than 2 to 3 weeks to launch. Some requirements could involve deeper constitutional changes,” Arton said, predicting that the programme may officially roll out in the last quarter of the year.

Residency, not direct citizenship

According to Arton, the $5 million is a donation rather than an investment, unlike many European residency programmes, which typically involve purchasing real estate, bonds, or shares.

“This will be more like Caribbean programmes, where applicants make a non-refundable contribution to the state,” he explained.

In return, applicants may receive expedited US residency, which could make the programme appealing, especially when compared to the current EB-5 programme, which is slower and backlogged with thousands of applications. Trump had earlier also said that the card could be "a path" to eventual US citizenship.

However, several critical questions remain unanswered. “Will applicants be required to reside in the US for a certain period? And most importantly, will they be taxed on their worldwide income from the moment they become residents? That’s a trillion-dollar question,” said Arton. “If residency triggers worldwide taxation immediately, demand will be very low. I’d estimate fewer than 1,000 applicants globally.”

World’s most expensive residency

Arton described the Trump Gold Card as the most expensive residency programme.

“Other programmes may cost $5 million, but those were structured as investments; money you get back in a few years,” he said. In contrast, the Trump programme involves a permanent, non-refundable donation.

Applicants will also incur standard, small due diligence and legal processing fees. Importantly, all candidates will undergo thorough vetting to confirm their source of wealth and background.

“You’ll need to prove not just the ability to donate $5 million, but also provide clear documentation showing where the money comes from. That’s standard in all legitimate residency or citizenship programmes – funds must be clean, taxed, and not connected to any illicit activities.” 

Family inclusion  

Under current US immigration law, the primary applicant’s spouse and dependent children under 18 are typically eligible for residency. Arton expects the Trump Card to follow this precedent.

Asked whether a future US administration could revoke residency obtained through the programme, Arton was confident that such status would remain secure, provided no fraud is involved.

“Western governments don’t revoke residency or citizenship granted under valid laws, unless the applicant has lied or submitted fraudulent documents. If they discover that, they can revoke your status, even decades later,” he said.

“But if the programme is legally terminated by a new administration, it would only affect future applicants. Existing residents would not be affected,” he concluded.

Waheed Abbas

waheedabbas@khaleejtimes.com

Waheed Abbas is Assistant Editor, covering real estate, aviation and other business stories that directly affect the lives of UAE consumers. He frequently reports human interest stories, too.