Washington, D.C. – United States President Donald Trump announced Tuesday that the U.S. will introduce a “gold card” program, allowing wealthy foreigners to secure residency and a path to citizenship for a $5 million fee.
Speaking from the Oval Office, Trump compared the new initiative to the existing green card system but emphasized its exclusivity. “We’re going to be selling a gold card,” he said. “It’s going to provide green card privileges and a route to citizenship. Wealthy people will be able to come into our country by buying this card.”
According to Trump, the program is set to launch within two weeks, with the potential for millions of cards to be sold. When asked if Russian oligarchs would be eligible, he responded, “Yeah, possibly. I know some Russian oligarchs that are very nice people.”
Replacement for EB-5 Visa Program
Commerce Secretary Howard Lutnick, who stood alongside Trump during the announcement, stated that the gold card would replace the existing EB-5 immigrant investor program. The EB-5 visa allows foreign investors to obtain green cards by investing at least $1.05 million—or $800,000 in economically distressed areas—in job-creating U.S. projects.
“They’ll still have to go through vetting,” Lutnick said, “to ensure they are world-class global citizens.”
The EB-5 program, established in 1992, has been criticized by lawmakers for straying from its original intent. It was reformed during the Trump administration, which attempted to raise investment thresholds, though those changes were overturned in court. The Biden administration later renewed the program in 2022, adjusting the minimum investment amounts.
Trump’s proposal is expected to spark debate, particularly regarding concerns over foreign influence and the ethics of selling U.S. residency.
