Trump Unveils "Gold Card" Green Card for Wealthy Immigrants |
President Trump addresses reporters in the Oval Office on February 25, 2025, with Commerce Secretary Howard Lutnick by his side. President Trump announced plans to introduce a new visa aimed at attracting wealthy foreigners to the U.S., calling it the "gold card." For a $5 million investment, applicants can apply for lawful permanent residency. Trump stated that the program, set to launch in two weeks, would attract "very high-level people" and suggested that the funds generated could help reduce the national deficit. "It will be a pathway to citizenship, allowing wealthy individuals to enter our country by purchasing this card," Trump told reporters during an unrelated event in the Oval Office on Tuesday. "They will be affluent, successful, and contribute significantly by spending money and paying substantial taxes." Trump's Commerce Secretary, Howard Lutnick, referred to the program as the "Trump Gold Card" and stated that it would effectively replace the existing EB-5 immigrant investor visa. The current EB-5 program grants residency to foreign investors who contribute at least $1.05 million to a new business that creates jobs—or $800,000 if the investment is in a rural area, a high-unemployment zone, or an infrastructure project. Lutnick criticized the EB-5 program, calling it "full of nonsense, make-believe, and fraud," and stressed that applicants for the "gold card" would undergo thorough vetting.
When asked whether Russian oligarchs could apply for the "gold card," Trump responded—seemingly joking—"Yeah, possibly. Hey, I know some Russian oligarchs that are very nice people." |