Trump introduces a green card for the rich: the gold card
Asma Khalid
President Trump speaks to reporters as Commerce Secretary Howard Lutnick looks on in the Oval Office on Feb. 25, 2025.
President Trump said he is planning to introduce a new visa to attract rich foreigners to America — something he is calling a “gold card.”
For $5 million, people will be able to apply to become lawful permanent residents. Trump said the program would be rolled out in two weeks, would bring in “very high-level people,” and said the proceeds from the program could help pay down the deficit.
“It’s going to be a route to citizenship, and wealthy people will be coming into our country by buying this card. They’ll be wealthy, and they’ll be successful, and they’ll be spending a lot of money and paying a lot of taxes,” Trump told reporters at an unrelated event in the Oval Office on Tuesday.
Trump’s Commerce Secretary Howard Lutnick called it the “Trump Gold Card” and said it would effectively replace the current EB-5 immigrant investor visa. That program gives residency to foreigners who invest at least $1.05 million in a new business that creates jobs — or $800,000 if the business is in a rural area, high unemployment area or an infrastructure project.
Lutnick told reporters the EB-5 program was “full of nonsense, make-believe and fraud.” He emphasized that applicants for the “gold card” would be vetted.
Asked by a reporter whether Russian oligarchs could apply for “gold cards,” Trump said — seemingly tongue-in-cheek — “Yeah, possibly. Hey, I know some Russian oligarchs that are very nice people.”
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Trump floats replacing EB-5 visa with $5M ‘gold card,’ requiring wealthy expats to spend more
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Trump to introduce ‘gold card’ visa for wealthy investors with $5 million price tag: ‘Route to citizenship’
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President Donald Trump suggested the introduction of a “gold card” visa on Tuesday afternoon — a potential opportunity for foreign investors to buy their way to American citizenship.
The U.S. currently offers a similar opportunity through the EB-5 Immigrant Investor Program, which was established in 1990 and is administered by the U.S. Citizenship and Immigration Services (USCIS). According to USCIS’s website, the visa is open to investors who “make the necessary investment in a commercial enterprise in the United States,” as well as “plan to create or preserve 10 permanent full-time jobs for qualified U.S. workers.”
But Trump’s recent suggestion would replace the EB-5 program, and instead, the Republican president plans to propose a “gold card” visa to the tune of $5 million.
“We are going to be selling a gold card,” Trump explained to reporters. “We are going to be putting a price on that card of about $5 million.”
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President Donald Trump suggested the introduction of a “gold card” visa. (Andrew Harnik/Getty Images / Getty Images)
“It’s going to give you green card privileges, plus it’s going to be a route to (American) citizenship, and wealthy people would be coming into our country by buying this card,” the president continued.
When a reporter asked if it was possible for a Russian oligarch to obtain the card, Trump answered in the affirmative.
“Yeah, possibly,” the U.S. leader replied. “Hey, I know some Russian oligarchs that are very nice people.”
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Trump’s recent suggestion would replace the EB-5 program with a “gold card” visa to the tune of $5 million. (Jabin Botsford/The Washington Post / Getty Images)
At least one other member of the Trump administration has signaled support for the measure. Speaking to reporters on Tuesday, Commerce Secretary Howard Lutnick accused the EB-5 program of being “full of nonsense, make-believe and fraud.”
“It was a way to get a green card that was low price,” Lutnick said. “So the president said, rather than having this sort of ridiculous EB-5 program, we’re going to end the EB-5 program. We’re going to replace it with the Trump gold card.”
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When a reporter asked if it was possible for a Russian oligarch to obtain the card, Trump answered in the affirmative. (Anna Moneymaker / Getty Images)
More information about the “gold card” is expected to come in the next few weeks. Other countries have similar visas: the United Kingdom offers a Tier 1 (Investor) visa, which allows a path to citizenship for foreign nationals willing to invest five to 10 million pounds.
Reuters contributed to this report.
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