Online search interest in Donald Trump’s US Gold Card rapidly dwindled in the days following the President’s announcement, as more people researched into European Golden Visa programmes instead.
The US President pledged to introduce a “Gold Card” visa scheme, suggesting wealthy foreigners will invest at least $5m in the US economy in exchange for what Trump called “Green Card privileges”.
Even at its peak following the announcement, it never surpassed the interest garnered by the Golden Visa programmes offered by Spain and Greece.
Denis Kravchenko, business development director and head of Ashtons’ Cyprus office, said: “The $5m price tag is likely going to be far too high to result in a large enough level of uptake for it to reduce the US’s national debt as it is intended to do.”
The US currently has the EB-5 visa programme, which offers green cards to those who are willing to invest between $800,000–$1m into the US economy.
Kravchenko added: “Trump may face further challenges due to there being other countries in the world that offer far more accessible programmes.
“Investors can, for example, qualify for Maltese citizenship through exceptional naturalisation for an investment of around 1 million euros, for which an investor can obtain citizenship to an EU member state in an average of 1.5 years without the need for permanent relocation.
“Then there are the multitude of European Golden Visa programmes that are also far more budget-friendly than Trump’s new initiative. Hungary launched a new residency program in summer 2024, requiring a minimum investment of at least 250,000 euros, and Portugal’s offer starts at a minimum investment of 500,000 euros.
“However, it’s Greece’s Golden Visa opportunities that are proving most popular of all. Despite the entry investment threshold recently being raised, it is still possible to obtain residency by purchasing property for just 250,000 euros. Somewhat ironically, it’s young Americans who are driving the recent surge in demand for Greek Golden Visas which, in 2024, set a record, issuing 17,194 visas (based on 11 months of data).”
