President Donald Trump announced on Tuesday that the United States will introduce a new “gold card” program, allowing wealthy foreigners to live and work in the country—and potentially gain citizenship—by paying a $5 million fee.
Speaking from the Oval Office, Trump described the initiative as an upgraded version of the traditional green card. “We’re going to be selling a gold card,” he said. “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. And wealthy people will be coming into our country by buying this card.”
The sale of these gold cards is expected to begin within two weeks, with Trump suggesting that millions could be sold. When asked whether Russian oligarchs would be eligible to participate, Trump responded, “Yeah, possibly. I know some Russian oligarchs that are very nice people.”
Standing beside Trump, Commerce Secretary Howard Lutnick confirmed that the program will replace the existing EB-5 immigrant investor visa, which has long allowed foreign nationals to gain U.S. residency by investing in job-creating American businesses. “They’ll have to go through vetting, of course,” Lutnick added, “to make sure they’re wonderful world-class global citizens.”
The EB-5 program, established by Congress in 1992, currently grants green cards to immigrants who invest at least $1,050,000—or $800,000 in economically distressed areas—in U.S. projects that generate jobs. However, the program has faced bipartisan criticism in recent years, with lawmakers arguing that it has strayed from its intended purpose and needs reform.
During Trump’s first term, his administration attempted to raise the minimum investment requirements to $900,000 for targeted economic areas and $1.8 million elsewhere, but a federal judge later overturned the decision. The program was last renewed in 2022 under President Joe Biden, with investment thresholds set at their current levels.
Trump’s new gold card proposal marks a major shift in U.S. immigration policy, prioritizing financial investment as a direct path to citizenship for the wealthy. The administration has yet to provide details on how the funds generated by the program will be used.
