Trump announces $5 million ‘Gold Card’ for wealthy foreigners
President Donald Trump announced that the U.S. will sell a “$5 million gold card” to wealthy foreigners, allowing them to live and work in the country with a path to citizenship, reports a Kazinform News Agency correspondent.
“We’re going to be selling a gold card,” Trump said from the Oval Office. “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.”
Trump said sales will start in about two weeks and suggested that millions of these cards could be sold. When asked if Russian oligarchs could buy them, he said, “Yeah, possibly. I know some Russian oligarchs that are very nice people.”
According to Commerce Secretary Howard Lutnick the gold card will replace the EB-5 visa program, which allows foreign investors to get green cards by investing in U.S. projects that create jobs.
“They’ll have to go through vetting, of course,” Lutnick said, “to make sure they’re wonderful world-class global citizens.”
The EB-5 program, created in 1992, lets immigrants get green cards by investing at least $1,050,000, or $800,000 in economically distressed areas, as long as their investments create American jobs.
Trump and his family have used the program to help fund real estate projects.
The program has faced criticism from lawmakers, who say it needs reform. The Trump administration tried to raise the investment amounts in 2019, but a judge blocked the changes. The Biden administration renewed the program in 2022 with updated investment requirements.
Earlier, it was reported that Kazakhstan had launched three new visa categories aimed at attracting skilled professionals, entrepreneurs, and remote workers.
