WASHINGTON, DC (LOOTPRESS) – President Donald Trump announced Tuesday a plan to offer a “Gold Card” visa program, allowing wealthy foreign investors to obtain U.S. residency and a pathway to citizenship in exchange for a $5 million fee.
Gold Card vs. Green Card
Speaking from the Oval Office, Trump compared the proposed Gold Card to the existing Green Card, saying it would provide similar benefits but with an added fast-track to U.S. citizenship.
“We’re going to be selling a Gold Card,” Trump said. “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 a route to citizenship. Wealthy people will be coming into our country by buying this card.”
Trump suggested that millions of Gold Cards could be sold, and when asked if Russian oligarchs would be eligible, he responded, “Yeah, possibly. I know some Russian oligarchs that are very nice people.”
Replacement for EB-5 Visa Program
According to Commerce Secretary Howard Lutnick, who stood alongside Trump, the Gold Card would replace the existing EB-5 Immigrant Investor Program. Established in 1992, the EB-5 program currently grants Green Cards to foreign investors who commit at least $1.05 million (or $800,000 in designated distressed areas) toward U.S. job-creating projects.
“They’ll have to go through vetting, of course,” Lutnick said, “to make sure they’re wonderful, world-class global citizens.”
Past Controversies & Reform Efforts
The EB-5 program has faced bipartisan criticism in Congress, with concerns over fraud, national security risks, and misuse by wealthy investors. Businesses tied to Trump and his family have previously benefited from EB-5 funds for major real estate projects.
During Trump’s first term, his administration attempted to raise minimum investment requirements, but a federal judge blocked the changes in 2021. The program was last renewed in 2022 under the Biden administration, maintaining higher investment thresholds.
Next Steps
Trump said the sale of Gold Cards is expected to begin in two weeks, though Congress may need to approve changesto existing immigration laws before implementation. The proposal has already sparked debate over whether it prioritizes wealth over merit-based immigration policies.
