US President Donald Trump has announced a plan to introduce “gold cards” that would grant green card residency and a pathway to American citizenship for wealthy immigrants willing to pay $5 million. Trump predicts that one million of these cards could be sold, aiming to generate significant revenue to help reduce the national debt.
The proposed scheme would replace the existing EB-5 immigrant investor program, which grants green cards to foreigners who invest in US businesses that create or preserve jobs. Trump criticized the EB-5 program, calling it “full of nonsense, make-believe, and fraud,” arguing that the new system would be more transparent and lucrative for the country.
Trump stated that the gold card would offer all the benefits of a green card while also serving as a direct route to US citizenship. While specifics of the program will be revealed in two weeks, he hinted that Russian oligarchs could be eligible. “Yeah, possibly. Hey, I know some Russian oligarchs that are very nice people,” he remarked when questioned about their participation.
Commerce Secretary Howard Lutnick reinforced Trump’s stance, claiming that the EB-5 program had become a loophole for acquiring green cards at a “low price.” He added that the gold card initiative would bring in a wealthier class of immigrants, benefiting the US economy.
The announcement has sparked debate, with critics questioning whether selling residency undermines the traditional values of US immigration policy. Supporters argue that it could provide an economic boost while streamlining investor immigration.
