Trump Proposes $5 Million ‘Gold Card’ for Wealthy Foreigners Seeking U.S. Residency

Former President Donald Trump announced on Tuesday a plan to introduce a $5 million “gold card” that would grant wealthy foreigners the right to live, work, and pursue citizenship in the United States. Speaking from the Oval Office, Trump positioned the initiative as a way to attract high-net-worth individuals to the country.

“We’re going to be selling a gold card,” Trump said. “You have a green card. This is a gold card. We’re going to put 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 suggested that sales would begin within two weeks and predicted that millions of these cards could be sold. When asked whether Russian oligarchs would be eligible, he responded: “Yeah, possibly. I know some Russian oligarchs that are very nice people.”

Gold Card to Replace EB-5 Visa Program

The proposed gold card would replace the EB-5 immigrant investor visa program, which has allowed foreign nationals to gain U.S. residency by investing in job-creating projects. Commerce Secretary Howard Lutnick, standing alongside Trump, emphasized that applicants would still be vetted.

“They’ll have to go through vetting, of course, to make sure they’re wonderful world-class global citizens,” Lutnick said.

The EB-5 program, created by Congress in 1992, currently requires immigrants to invest at least $1.05 million, or $800,000 in economically distressed areas, to qualify for a green card. Over the years, the program has faced bipartisan scrutiny for alleged misuse, with lawmakers calling for reforms.

Trump’s History with the EB-5 Program

Trump and his family’s businesses have previously used the EB-5 program to fund major property developments. During his first term, the Trump administration attempted to raise the minimum investment requirements—to $900,000 in targeted areas and $1.8 million elsewhere—but a federal judge struck down the change in 2021, citing procedural issues.

The Biden administration renewed the EB-5 program in 2022, setting the current investment thresholds at $1.05 million and $800,000 in targeted employment areas.

While details about how the gold card program would function remain unclear, Trump’s proposal signals a significant shift in the U.S. immigration policy landscape, sparking debate over the role of wealth in acquiring American residency and citizenship.