On Tuesday, U.S. President Donald Trump announced plans to introduce a “gold card” program, allowing foreign investors to obtain a pathway to American citizenship for $5 million. This initiative is intended to replace the EB-5 visa program, which currently grants green cards to foreign nationals who invest in U.S. businesses that create or sustain jobs.
“We will be selling a gold card,” Trump stated, emphasizing that it will offer green card benefits along with a route to citizenship. He highlighted that the program would attract wealthy individuals willing to invest in the U.S. economy, with further details expected in the coming weeks.
When asked whether Russian oligarchs could qualify for the program, Trump acknowledged the possibility, adding, “I know some Russian oligarchs that are very nice people.”
The EB-5 Immigrant Investor Program, established in 1990 to stimulate economic growth, has been criticized for inefficiencies and misuse. Commerce Secretary Howard Lutnick defended the decision to scrap the EB-5 program, describing it as fraudulent and flawed. He asserted that the new Trump Gold Card would replace it with a more direct and valuable approach for wealthy investors.
