President Donald Trump has unveiled plans for a new immigration initiative that would allow wealthy foreigners to obtain permanent residency in the United States by purchasing what he described as a “Gold Card” for $5 million, offering a pathway to American citizenship.
The announcement, made during a meeting with reporters in the Oval Office alongside Commerce Secretary Howard Lutnick, marks one of Trump’s most ambitious proposals to reshape America’s legal immigration system. While his administration has intensified efforts to deport undocumented immigrants and tighten border security, the proposed Gold Card programme seeks to attract affluent investors and entrepreneurs capable of creating jobs and injecting billions of dollars into the US economy.
Trump argued that the initiative would bring successful business owners, innovators and high-net-worth individuals into the country while generating enormous revenue for the federal government.
“We’re going to be selling a Gold Card,” Trump said. “You have a Green Card; this is a Gold Card. We’re going to be putting a price on that card of about $5 million.”
According to the president, the card would grant holders Green Card privileges while also serving as a route to eventual US citizenship.
“A lot of people are going to want to be in this country,” Trump told reporters. “They’ll be able to work and provide jobs and build companies. It’ll be people with money.”
Trump suggested the programme could begin within weeks, adding that his administration had already examined the legal framework.
“We have it all worked out from a legal standpoint,” he said. “We’ll be able to sell maybe a million of these cards.”
If a million applicants were to pay $5 million each, the programme could theoretically generate $5 trillion, although immigration experts have questioned whether demand would ever reach such a level.
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A Different Approach to Immigration
The proposal reflects Trump’s broader immigration philosophy during his second term—one that combines strict enforcement against illegal immigration with incentives aimed at attracting wealthy, highly skilled migrants.
Commerce Secretary Howard Lutnick said proceeds from the programme could help reduce America’s growing budget deficit.
“We can use that money to reduce our deficit,” Lutnick said while standing beside the president.
Trump also argued that wealthy immigrants would contribute more than just the initial payment.
“They’ll be spending a lot of money, paying a lot of taxes and employing a lot of people,” he said, adding that the programme would attract successful entrepreneurs capable of expanding businesses in the United States.
Wealthy Russians Could Qualify
When asked whether affluent Russians—including sanctioned oligarchs—could be eligible for the programme, Trump did not rule out the possibility.
“Possibly,” he said. “I know some Russian oligarchs that are very nice people. It’s possible. They’re not as wealthy as they used to be. I think they can afford $5 million.”
His remarks immediately drew attention because many Russian billionaires remain under Western sanctions imposed following Russia’s full-scale invasion of Ukraine.
Although Trump has recently advocated for improving relations with Moscow and pursuing negotiations to end the war in Ukraine, he clarified later that lifting sanctions on Russia was not currently under consideration.
“Lifting sanctions on Russia is possible at some point,” Trump said, “but right now it’s not on the table.”
Trump Says Card Could Carry His Name
The president also joked that the programme might eventually bear his own name.
“Somebody said, ‘Can we call it the Trump Gold Card?’ I said, ‘If it helps, use the name Trump,'” he remarked.
The comment is consistent with Trump’s long-standing practice of branding major projects with his surname, a strategy that has become synonymous with his business and political identity.
Back Story: Replacing the Long-Running EB-5 Investor Visa
Trump’s proposal represents a dramatic departure from the existing EB-5 Immigrant Investor Programme, which has been in place since 1990.
The EB-5 programme currently allows foreign investors to obtain permanent residency by investing at least $800,000 in qualifying projects located in targeted employment areas—or $1.05 million in other projects—provided the investment creates at least 10 full-time jobs for American workers. Over the years, thousands of foreign investors have used the programme to secure Green Cards, particularly applicants from China, India and Vietnam.
Trump and Commerce Secretary Lutnick criticised the EB-5 system as outdated and vulnerable to fraud, arguing that it allows investors to obtain residency at too low a cost.
Under the proposed Gold Card, applicants would pay $5 million directly to the US government instead of making a qualifying investment tied to job creation. The administration says every applicant would undergo rigorous background checks before approval.
However, immigration lawyers note that replacing or substantially changing the EB-5 programme may require congressional approval because it was created through federal legislation. Legal experts have questioned whether a president alone has the authority to eliminate or replace a statutory visa category without Congress passing a new law.
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Questions Still Remain
Although Trump expressed confidence that the Gold Card programme could launch quickly, significant questions remain unanswered.
The administration has yet to release detailed eligibility requirements, explain how applicants would be selected, or clarify whether the programme would operate alongside or replace the existing EB-5 visa.
Analysts also point out that similar “golden visa” programmes have existed in countries including Portugal, Greece and the United Arab Emirates, though several governments have tightened or ended such schemes amid concerns over money laundering, security risks and housing market pressures.
For now, the Gold Card remains a proposal rather than an active immigration pathway. Whether it ultimately becomes law will likely depend on congressional approval, legal scrutiny and political negotiations in Washington.
