President Donald Trump has announced plans to introduce a new “gold card” program that would grant wealthy foreign investors the right to live and work in the U.S., along with a pathway to citizenship, for a $5 million fee.
Speaking from his office on Tuesday, Trump described the initiative as a premium alternative to the existing green card system.
“We’re launching the gold card. This isn’t just a green card—it’s even better,” Trump said. “For $5 million, you get all the privileges of a green card, plus a direct route to U.S. citizenship. We expect many wealthy individuals to take advantage of this.”
Trump indicated that sales of the gold card would begin in about two weeks, with expectations that millions could be issued.
When asked whether Russian oligarchs would be eligible, Trump responded, “Possibly. I know some Russian oligarchs who are very nice people.”
Commerce Secretary Howard Lutnick, who was present at the announcement, confirmed that the new program would replace the EB-5 immigrant investor visa, which has long allowed foreign investors to gain U.S. residency by funding job-creating projects.
“They’ll still have to go through a vetting process,” Lutnick said. “We want to make sure they are top-tier global citizens.”
The EB-5 visa program, first established in 1992, has been a subject of debate for years, with critics arguing that it has been misused.In the past, the Trump administration has tried to raise spending limits, but the courts have thrown out some of those plans.
The last time the show ran was when Biden was president, in 2022. Right now, the least amount of money that needs to be invested is $1.05 million, or $800,000 in places where unemployment is high.
Members of Congress are going to talk a lot about Trump’s new plan. They will want to know what it means for U.S. immigration policy and the economy.
