Trump Proposes $5 Million Gold Card for Wealthy Immigrants

WASHINGTON, Feb. 25, 2025 — U.S. President Donald Trump announced plans on Tuesday to introduce a new visa program, referred to as the ‘gold card,’ which would allow wealthy foreigners to obtain a path to U.S. citizenship for a fee of $5 million. The announcement was made during a press briefing at the White House‘s Oval Office alongside Commerce Secretary Howard Lutnick.

According to Trump, the sale of the cards will begin in approximately two weeks and could potentially result in millions of these cards being sold. “We’re going to be selling a gold card. It’s going to give you green card privileges, plus it’s going to be a route to citizenship,” he stated. The initiative is aimed at wealthy individuals who wish to live and work in the United States.

Trump emphasized the expected economic benefits from wealthy immigrants entering the country, noting that they would create jobs and contribute to taxes. “They’ll be wealthy and they’ll be successful, and they’ll be spending a lot of money and paying a lot of taxes, and we think it’s going to be extremely successful,” he said.

The proposed gold card will replace the existing EB-5 immigrant investor visa program, which has been controversial since its inception in 1990. The EB-5 program allows foreign investors who contribute at least $1,050,000, or $800,000 in designated economically distressed areas, to apply for U.S. residency. Lutnick stated that the new program would address issues of fraud and inefficiency that have been reported in the EB-5 program.

“The EB-5 program was full of nonsense, make-believe, and fraud, and we’re going to replace it with the Trump gold card,” Lutnick explained. He also reassured the public that applicants would undergo a thorough vetting process to ensure they are “wonderful world-class global citizens.”

When asked whether Russian oligarchs would be eligible for the program, Trump replied, “Yeah, possibly. I know some Russian oligarchs that are very nice people.” This response raised eyebrows and drew mixed reactions from political analysts.

The new gold card initiative aims to attract high-income individuals to counterbalance federal debt, with Trump suggesting the sale could generate substantial revenue for the government. “We could sell 10 million gold cards. It could be great, maybe it will be fantastic,” he said, indicating optimism about the program’s potential.

The EB-5 program has been scrutinized in recent years, with critics arguing that it often fails to meet its employment creation goals. Former measures attempted to adjust the investment thresholds but faced legal challenges. The last significant changes to the program occurred under the Biden administration, which maintained the higher investment levels but did not resolve the underlying issues.

In summary, the gold card program proposes a significant shift in U.S. immigration policy, targeting elite newcomers with substantial financial resources. Additional details about the program and its implementation are expected to be released within the upcoming weeks.