The launch of the ‘Trump Gold Card’, a fast-track pathway to US residency, has sent ripples across the global Golden Visa landscape.
This new initiative, unveiled by US President Donald Trump, demands a substantial financial contribution to the US government and represents a distinct and controversial entry into a market long dominated by more accessible European programmes.
A closer look at the Gold Card and its most successful counterpart, the Portugal Golden Visa, reveals fundamental differences in their philosophy, cost, and purpose.
Is Trump’s Gold Card worth it?
The Trump Gold Card is a visa programme with a high entry fee: a “gift” of $1 million (€850,000) for individuals or $2 million (€1.7m) for corporations per employee.
The Republican administration touts this as a revolutionary way to generate revenue, with Commerce Secretary Howard Lutnick claiming it could bring in “well over $100 billion, quickly”.
The programme also offers a ‘Platinum Card’ for a $5 million (€4.2m) contribution, which provides additional tax benefits on foreign income. This model is a direct departure from traditional US investor visas, like the EB-5, which required job creation.
Holders of the Platinum Card can spend 270 days per year without being taxed on non-U.S. income.
The Gold Card focuses instead on a direct capital injection, bypassing the complexities of business ventures. According to the administration, the ultimate goal is to attract the world's wealthiest individuals who can "affirmatively benefit" the nation's economy.
The main criticisms of this programme centre on its steep cost and ethical implications. Opponents argue it creates a two-tiered immigration system, favouring the ultra-rich while making it harder for others to enter through traditional routes.
It is also unclear what the residency requirements will be for the Gold Card. Without this confirmation, the use of a Gold Card as a ‘Plan B’ will be limited, potentially requiring lengthy stays in the U.S. to preserve Gold Card status.
The executive order's legality is also under scrutiny, as many believe only Congress has the power to create such immigration categories.
Why Portugal’s Golden Visa is the benchmark
In stark contrast, Portugal's Golden Visa programme offers a much more accessible and holistic approach to residency by investment. The programme has been lauded for its flexibility and benefits, proving popular with investors worldwide.
The most popular route to Portugal’s Golden Visa is by investing €500,000 in qualifying Portuguese alternative investment funds. The Portugal Future Fund, one such Golden Visa-eligible alternative investment fund, invests across Portugal’s key growth sectors, supporting the nation's growth.
The real estate investment route to Portugal’s Golden Visa was discontinued in 2023.
One of the most appealing aspects of the Portuguese visa is the minimal residency requirement. A holder needs only spend an average of seven days per year in the country, making it ideal for those who don't want to uproot their lives but still want a ‘Plan B’ residency.
After just five years, a visa holder can apply for Portuguese citizenship, which provides an EU passport and the right to live, work, and travel freely across the 29 countries in the Schengen area.
The benefits don’t end there, with one Golden Visa giving the same benefits to your eligible family members, including a spouse, dependent children, and even dependent parents.
Which is better?
The Trump Gold Card is an expensive and controversial revenue generator that offers residency in the US, a highly sought-after destination. It's a premium product but with a price tag to match. However, its legal standing is uncertain, and it carries the baggage of being a political lightning rod.
Portugal's Golden Visa, on the other hand, is an established and flexible programme. It has successfully balanced attracting foreign capital with providing tangible, long-term benefits to investors, such as a clear path to EU citizenship.
Its lower investment thresholds and minimal residency rules make it a far more practical and appealing choice for a wider range of global citizens seeking a second home or an investment in their future.
While some European countries are scaling back their Golden Visa schemes, the Portuguese model, with its emphasis on investment funds and job creation, demonstrates a more sustainable and mutually beneficial approach.
To learn more, arrange a discovery call with one of Portugal Pathways' Golden Visa experts
About Portugal Pathways
Portugal Pathways has supported hundreds of Golden Visa residency-by-investment applications and provides expert guidance through its professional supply chain network on luxury property, wealth management, and tax optimisation, including post-NHR tax regime planning, as well as private healthcare, IFICI tax incentive applications, money transfers and bespoke relocation solutions to enhance life and investments in Portugal.
About Portugal Investment Owners Club
The Portugal Investment Owners Club, or P Club for short, is a unique investor membership community designed for discerning individuals, families, and organisations committed to exploring and capitalising on life in Portugal and enjoying money-can't-buy experiences and exclusive events.
About Portugal Future Fund
The Portugal Future Fund strategically invests in key sectors, driving growth and innovation across Portugal. Approved for Portugal’s Golden Visa residency-by-investment, it offers a unique opportunity for impactful and rewarding participation.
Disclaimer: The information on the Portugal Pathways and Portugal Investment Owners Club (P Club for short) websites and in email communications is for general informational purposes only and should not be construed as legal, tax, or financial advice. You should consult and check with a qualified professional advisor before relying on any information provided on this website or in email communications. As it relates to investments in Golden Visas or other wealth management solutions offered by regulated and professional advisors, it is important to note that past performance is no guarantee of future returns. Private equities can be highly illiquid and come with risk and should always be under professional independent advice. Golden Visa investments need to be held for 6 to 7 years to allow for permanent citizenship/passport in the EU.
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