US President Donald Trump has announced plans to introduce a new immigration programme that would allow wealthy foreigners to obtain American citizenship through a “gold card” scheme. The initiative, which is expected to replace the existing EB-5 Immigrant Investor visa programme, will require a $5 million investment and provide green-card residency status along with a direct pathway to US citizenship.
Trump’s ‘Gold Card’ Proposal
Speaking to reporters, Trump stated that the new programme could attract affluent investors worldwide, predicting that up to one million gold cards could be sold.
“We’re going to be selling a gold card… We are going to be putting a price on that card of about $5 million,” he said. “It’s going to give you green card privileges plus a route to citizenship, and wealthy people would be coming into our country by buying this card.”
Trump also emphasized that the initiative could help reduce the national debt, presenting it as a revenue-generating solution for the US economy.
Replacing the EB-5 Visa Programme
The EB-5 Immigrant Investor Programme, established in 1990, currently allows foreign nationals to obtain green cards by investing at least $1 million (or $500,000 in designated rural or high-unemployment areas) in US businesses that generate jobs. However, the programme has faced criticism over alleged fraud and misuse.
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Commerce Secretary Howard Lutnick confirmed that the administration plans to eliminate the EB-5 programme, stating, “The EB-5 program was full of nonsense, make-believe, and fraud. It was a way to get a green card at a low price. So, the president said, rather than having this sort of ridiculous EB-5 program, we’re going to end it and replace it with the Trump Gold Card.”
Eligibility and Implementation Timeline
Trump revealed that more details about the “gold card” plan will be released in the next two weeks. The programme will likely include a vetting process to ensure that only reputable, high-net-worth individuals qualify.
When asked whether Russian oligarchs would be eligible for the scheme, Trump responded, “Yeah, possibly. Hey, I know some Russian oligarchs that are very nice people.”
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The proposal has already sparked debate among policymakers and immigration experts. Supporters argue that attracting high-net-worth individuals could stimulate investment and job creation, while critics worry about the ethical and national security implications of effectively selling US citizenship.
As discussions continue, the Trump administration is expected to unveil the final framework of the gold card initiative in the coming weeks, setting the stage for potential immigration policy changes ahead of the 2024 presidential election.
