Trump Unveils $5 Million 'Gold Card' Visa to Lure Wealthy Immigrants

In a move that could significantly alter the landscape of U.S. immigration, President Donald Trump has announced the introduction of a new visa program dubbed the "Gold Card." This initiative is designed to attract affluent foreign investors to the United States by offering lawful permanent residency for a fee of approximately $5 million. The Gold Card is positioned as a pathway to U.S. citizenship, providing benefits similar to a Green Card but with an expedited route for those who can afford it.

"We're going to be selling a gold card. 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," Trump explained during the announcement. This program is expected to launch within two weeks and could generate significant revenue for the U.S. government, potentially aiding in deficit reduction.

The Gold Card will succeed the EB-5 program, which has faced criticism for inefficiencies and fraud. Commerce Secretary Howard Lutnick described the EB-5 program as "filled with nonsense, make-believe, and fraud." The new program aims to offer a more streamlined and secure process for affluent investors.

Trump believes the Gold Card initiative will attract "very high-level individuals" who will contribute to the U.S. economy through spending and tax payments. He noted, "It will be individuals with wealth and those who generate employment." The program could also allow corporations to purchase residency for high-skilled employees, potentially replacing some work visas.

However, the initiative has raised several concerns. There are questions about the eligibility criteria for the Gold Card, particularly regarding controversial figures like Russian oligarchs. When questioned about this, Trump responded, "Yeah, possibly. I know some Russian oligarchs who are good people." Despite these concerns, Commerce Secretary Lutnick emphasized that applicants would undergo thorough vetting to ensure they are "outstanding global citizens." However, specific criteria for this vetting process have not been detailed.

Trump has expressed optimism about the potential success of the Gold Card program, suggesting that it could lead to the sale of up to a million cards or more. He stated, "We could potentially sell around a million of these cards, or even more." This would not only generate substantial revenue but also attract high-net-worth individuals who could contribute to the U.S. economy.

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