President Donald Trump announced a bold new immigration initiative from the Oval Office, unveiling plans to offer "Gold Cards" priced at $5 million as a pathway to U.S. citizenship for wealthy foreign investors. The proposal aims to replace the existing EB-5 immigrant investor visa program, which has been in place since 1990 and allows foreigners to gain permanent residency by investing around $1 million in a U.S. business that creates at least 10 jobs.
Trump described the Gold Card as a "premium version" of the Green Card, stating, "It’s going to give you Green Card privileges plus a route to citizenship, and wealthy people will be coming into our country by buying this card." He predicted the program could generate significant revenue, suggesting that selling 1 million cards could help reduce the national debt. Commerce Secretary Howard Lutnick, who joined Trump during the announcement, added that the initiative would launch within two weeks and eliminate the "fraud and nonsense" associated with the EB-5 program, while ensuring applicants are thoroughly vetted.
The current EB-5 program, administered by U.S. Citizenship and Immigration Services, requires a minimum investment of $800,000 in targeted employment areas or $1.8 million elsewhere, along with job creation requirements. In contrast, Trump’s Gold Card sets a flat $5 million price tag, significantly raising the bar for entry. The president argued that this would attract "world-class, global citizens" and benefit the U.S. economy by drawing in affluent individuals capable of spending and investing heavily.
When asked about eligibility, Trump sparked controversy by suggesting that even Russian oligarchs could qualify, saying, "Yeah, possibly. I know some Russian oligarchs that are very nice people. They’re not as wealthy as they used to be. I think they can afford $5 million." The remark has raised eyebrows given ongoing concerns about foreign influence in U.S. affairs.
Trump asserted that his administration could implement the program without congressional approval, though legal experts question whether a citizenship pathway can bypass legislative oversight. Details remain sparse, with Trump promising more information in the coming weeks. The announcement comes amid his administration’s broader immigration crackdown, highlighting a stark contrast between restricting certain migrant pathways and opening an exclusive route for the ultra-wealthy.
Supporters see the Gold Card as a savvy economic move, potentially boosting investment and job creation, while critics argue it commodifies citizenship and favors the rich. As of now, the proposal has ignited fierce debate, with its feasibility and implications still unfolding.