Announced by President Donald Trump, the programme requires a substantial financial contribution to the US government.

Unlike the more established European schemes, it represents a bold and controversial foray into this space. A comparison with Portugal’s highly regarded Golden Visa illustrates clear contrasts in cost, purpose, and design.

Is Trump’s Gold Card worth the price?

The Gold Card demands a significant entry fee: a “gift” of $1 million (€850,000) for individuals, or $2 million (€1.7m) per employee for corporations.

The administration hails this as a groundbreaking revenue generator, with Commerce Secretary Howard Lutnick claiming it could raise “well over $100 billion, quickly”.

An even higher tier—the Platinum Card—requires a $5 million (€4.2m) contribution. In return, holders receive extra tax benefits, including the ability to spend up to 270 days per year in the US without being taxed on foreign income.

This represents a sharp shift from earlier US investor visas, such as the EB-5, which focused on job creation. The Gold Card instead emphasises direct capital injections from the ultra-wealthy, who the government argues can “affirmatively benefit” the national economy.

However, critics argue the scheme creates an inequitable, two-tier immigration system, privileging the ultra-rich while restricting opportunities for others.

Credits: Supplied Image; Author: Client;

Questions also remain over the programme’s residency requirements—without clarity, its use as a back-up residency option may be limited, potentially forcing holders to spend long stretches in the US.

The legality of the initiative is also being challenged, with many insisting that only Congress has the authority to create new immigration categories.

Why Portugal’s Golden Visa stands out

Portugal’s Golden Visa is widely seen as one of the world’s most accessible and attractive residency-by-investment programmes. Flexible and well-established, it has drawn thousands of international investors.

With Portugal discontinuing the Golden Visa real estate route in 2023, the most popular route today is investing €500,000 in qualifying Portuguese alternative investment funds.

Certain Golden Visa-eligible funds, such as the Portugal Future Fund, invest across Portugal’s key growth sectors, aligning investor returns with national development priorities.

Crucially, the residency requirement to maintain Golden Visa status is just seven days per year in Portugal. This makes it especially appealing to those seeking a “Plan B” without relocating full-time.

After five years, Golden Visa holders are eligible to apply for Portuguese citizenship, unlocking an EU passport and the freedom to live, work, and travel across 29 Schengen countries.

The Portugal Golden Visa also covers family members, including spouses, dependent children, and even dependent parents.

Credits: Supplied Image; Author: Client;

Which option makes more sense?

The Trump Gold Card is positioned as an exclusive, high-cost entry to life in the US. But its uncertain legal footing and the controversy surrounding it raise questions about its long-term viability.

By contrast, Portugal’s Golden Visa is a tried-and-tested programme with a clear track record. Its lower investment threshold, minimal residency obligations, and defined route to EU citizenship make it a more practical and attractive choice for a broad spectrum of global investors.

As some European countries wind down their Golden Visa programmes, Portugal continues to refine its model, focusing on investment funds and sustainable economic contributions—a balance of benefits for both the nation and its investors.

To learn more, arrange a discovery call with one of Portugal Pathways' Golden Visa experts

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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.