U.S. President Donald Trump has announced a new plan to sell green cards to wealthy foreigners for $5 million each. Called the “gold card,” this initiative not only grants the right to live and work in the U.S. but also offers a faster path to citizenship.
Speaking from the Oval Office, Trump explained, “You have a green card. This is a gold card. We’re going to be putting a price on that card of about $5 million, and that’s going to give you green card privileges, plus it’s going to be a route to citizenship. Wealthy people will be coming into our country by buying this card.” The program is expected to launch within two weeks, with the possibility of selling millions of these cards to wealthy individuals worldwide.
When asked if Russian oligarchs could participate, Trump responded, “Yeah, possibly. I know some Russian oligarchs that are very nice people.” This comment raised concerns about the policy’s implications.
Commerce Secretary Howard Lutnick, who joined Trump during the announcement, said the gold card would replace the current EB-5 immigrant investor visa program. The EB-5 program allows foreigners to obtain visas by investing in U.S. projects that create jobs. Lutnick emphasized that gold card applicants would be thoroughly vetted to ensure they are “wonderful world-class global citizens.”
The EB-5 program was introduced in 1992 to encourage investment and job creation in the U.S. by requiring a minimum investment of $1,050,000, or $800,000 in economically distressed areas. However, it has faced criticism for being misused and has been linked to various businesses, including some connected to Trump.
Although Trump’s administration proposed increasing the investment requirements for the EB-5 program, the changes were blocked by a federal judge. The program was renewed in 2022 under President Biden, maintaining its previous investment thresholds.
As the details of this new gold card initiative unfold, its potential impact on U.S. immigration policy and foreign investment remains a topic of keen interest.
