Former US President Donald Trump has unveiled a controversial new immigration initiative—the ‘Gold Card’, a program allowing affluent foreign investors to buy their way to American citizenship for a hefty $5 million price tag.
Announced from the Oval Office, Trump described the Gold Card as a premium alternative to the Green Card, offering long-term residency and a streamlined path to naturalization.
“We’re going to be selling a Gold Card,” Trump declared, emphasizing that this initiative would attract high-net-worth individuals while generating substantial revenue for the US government.
Replacing EB-5: A New Approach to Investor Immigration
The Gold Card would replace the EB-5 Immigrant Investor Visa Program, which currently allows foreign investors to obtain Green Cards by investing at least $800,000 in job-creating ventures. Trump dismissed the existing system as inefficient and outdated.
Commerce Secretary Howard Lutnick, who stood alongside Trump during the announcement, defended the decision, stating: “Rather than having this ridiculous EB-5 program, we’re going to end it. We’re replacing it with the Trump Gold Card.”
No Job Creation Requirement?
Unlike the EB-5, which mandates investment in job-generating projects, the Gold Card seemingly prioritizes direct payments to the US government over economic contributions.
Trump even proposed selling up to 10 million Gold Cards as a potential strategy to cut the national deficit. However, he did not clarify whether applicants would be required to create jobs in the US.
Russian Oligarchs Eligible?
When asked whether Russian oligarchs could purchase a Gold Card, Trump responded: “Yeah, possibly. Hey, I know some Russian oligarchs who are very nice people.”
More Details to Come
While the full details of the Gold Card program remain unclear, Trump promised further updates within two weeks.
“It’s like a Green Card, but at a higher level of sophistication,” he said, adding that the program would provide a road to citizenship for people of wealth or great talent.
