Former President Donald Trump has announced a new immigration program that would allow foreign nationals to obtain a special “gold card” visa for $5 million, granting them Green Card privileges and a pathway to U.S. citizenship.
Trump described the program as a legal initiative that could be launched within two weeks.
According to The U.S. Sun, the proposal is part of Trump’s broader strategy to attract wealthy investors to the U.S. economy, aiming to generate significant tax revenue and job creation.
Gold Card Visa to Replace EB-5 Program
The proposed program would replace the existing EB-5 Immigrant Investor Program, which allows foreign investors to apply for permanent U.S. residency by investing in a U.S. business and creating at least ten full-time jobs.
Secretary of Commerce Howard Lutnick stated that the EB-5 program had been ineffective and vulnerable to fraud. He emphasized that the gold card visa would target high-caliber investors capable of making substantial contributions to the U.S. economy.
“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,” Trump said during a meeting in the Oval Office.
“Wealthy people will be coming into our country by buying this card. They’ll be wealthy and they’ll be successful, and they’ll be spending a lot of money, paying a lot of taxes, and employing a lot of people. And we think it’s going to be extremely successful and has never been done before,” he added.
Russian Oligarchs Could Qualify for Gold Cards
Trump also suggested that Russian oligarchs could be eligible for the new gold card system.
He described the gold card as “somewhat like a Green Card, but at a higher level of sophistication,” allowing affluent individuals to secure U.S. residency.
Lutnick further explained that applicants for the gold card would undergo a vetting process before being allowed to invest in U.S. businesses, ultimately helping to reduce the country’s budget deficit.
The primary objective, he noted, is to attract individuals who will make significant contributions to job creation and tax revenue.
Millions of Gold Cards Could Be Issued
Trump expressed confidence that the gold card program could become a major success. He speculated that the program could sell up to a million or more cards, generating substantial financial resources and providing a significant economic boost.
“You’re getting big taxpayers, big job producers, and we’ll be able to sell maybe a million of these cards, maybe more than that,” he said.
Trump’s Recent Moves to Cut Government Jobs
The gold card proposal comes amid recent reductions in the federal workforce.
Reports indicate that Trump recently fired approximately 2,000 government employees and placed many others on leave as part of an ongoing restructuring of the U.S. Agency for International Development (USAID).
This move aligns with Trump’s broader push to cut government spending and deregulation. The newly formed Department of Government Efficiency (DOGE), led by Elon Musk, has been tasked with identifying inefficiencies within the federal government.
Musk had previously warned federal employees that they must demonstrate productivity or risk termination.
Trump has long criticized the federal workforce as excessive, arguing that reducing the size of government is essential for fostering a more efficient and prosperous economy.
