President Donald Trump has announced plans to introduce a new visa program, dubbed the “Gold Card,” aimed at attracting wealthy foreigners to the United States.
For a $5 million investment, applicants would gain lawful permanent residency, with the opportunity to eventually become U.S. citizens.
$5 million pathway to U.S. residency sparks debate
During an Oval Office press briefing, Trump described the initiative as a way to bring in “very high-level people” who would contribute significantly to the U.S. economy.
He also suggested that proceeds from the program could help reduce the national deficit.
“It’s going to be a route to citizenship, and wealthy people will be coming into our country by buying this card.
They’ll be successful, they’ll be spending a lot of money, and they’ll be paying a lot of taxes,” Trump told reporters.
Replacing the EB-5 visa with a “gold standard”
Commerce Secretary Howard Lutnick referred to the program as the “Trump Gold Card,” emphasizing that it would replace the existing EB-5 immigrant investor visa.
The EB-5 program currently offers residency to foreigners who invest at least $1.05 million in a business—$800,000 in rural or high-unemployment areas.
However, Lutnick dismissed the current system as being full of “nonsense, make-believe, and fraud.”
He is optimistic that the Gold Card applicants would undergo strict vetting.
When asked whether Russian oligarchs could apply, Trump responded with a smirk, “Yeah, possibly. Hey, I know some Russian oligarchs that are very nice people.”
The announcement has already sparked debate.
With supporters praising it as a bold economic strategy, while critics argue it creates a pay-to-play system for U.S. citizenship.
As the program is set to roll out within two weeks, many are waiting to see how it will shape America’s immigration landscape.
