Commentary: Even with US$5 million price tag, Trump’s ‘gold card’ visas won’t cut national debt

Notwithstanding this, golden visas in many other nations provide better opportunities than those offered by a Trump gold card. 

In terms of mobility, the US passport ranks eighth on an index of 198 different passports. American passport holders can travel to 171 countries without needing a visa.

Spain ranks second, with a Spanish passport allowing access to 177 countries without a visa. And Portugal, Greece and a host of other European nations follow closely behind, with their passports allowing visa-free travel to 176 countries.

The most powerful passport in the world is offered by the United Arab Emirates (UAE), allowing access to 179 countries visa-free. The UAE government introduced a golden visa in 2019, offering long-term residence in exchange for roughly US$550,000 of investment.

An American passport also has its own inherent limitations and hazards. A US-born colleague of mine who acquired Irish citizenship through lineage has never used his American passport while out of the country.

He believed that in a crisis situation, such as being taken hostage, a US citizen was far more vulnerable and exposed to danger than a non-American counterpart. In his opinion, people were far more prejudiced and hostile towards a US citizen than those belonging to other nations.

The return on investment of a Trump gold card remains unpredictable. The asking price is extremely high and the benefits it promises buyers are – at best – marginal. 

The offer comes with enough holes to sink a ship.

Amalendu Misra is a professor of international politics at Lancaster University, in the UK. This commentary first appeared on The Conversation.