Washington, D.C.: In a bold immigration reform move, U.S. President Donald Trump has announced a new initiative that would allow wealthy foreigners to purchase a “Gold Card” for $5 million, granting them green card privileges and a pathway to American citizenship. This proposed policy aims to replace the existing EB-5 Immigrant Investor Program, which has long provided foreign investors with U.S. residency in exchange for job-creating investments.
Speaking to reporters, President Trump emphasized that the initiative would attract high-net-worth individuals, predicting that one million “Gold Cards” could be sold, thereby generating significant revenue to help reduce the national debt.
“We are going to be selling a Gold Card… It’s going to give you green card privileges plus a route to American citizenship,” Trump stated. “Wealthy people would be coming into our country by buying this card.”
The new scheme is expected to offer streamlined residency for foreign investors, replacing the EB-5 program, which Trump criticized as being ineffective and susceptible to fraud.
While specific details of the program are yet to be unveiled, Trump hinted that Russian oligarchs and other global elites could potentially qualify. When asked about Russian eligibility, he responded, “Yeah, possibly. Hey, I know some Russian oligarchs that are very nice people.”
Commerce Secretary Howard Lutnick reinforced Trump’s stance, stating that the EB-5 program had been “full of nonsense, make-believe, and fraud.” The administration believes that a higher price tag for residency will ensure only the wealthiest applicants gain entry.
Critics argue that the proposal favors the ultra-rich at the expense of skilled professionals and middle-class immigrants who contribute to the U.S. economy. Immigration policy experts warn that such a scheme could create an elitist entry system, prioritizing financial power over merit-based immigration.
On the other hand, supporters argue that the policy could bring billions in foreign investment, boost infrastructure, and create more jobs. The initiative aligns with Trump’s broader economic strategy of using immigration as a tool for financial gain.
The Trump administration has promised to release further details within two weeks. The proposal will likely spark heated debates in Congress and among the American public, especially with the 2024 presidential election cycle still fresh in political discussions.
As the U.S. redefines its immigration priorities, the world watches to see whether Trump’s “Gold Card” will become a reality or remain just another controversial policy proposal.
