President Trump announced plans for a new visa program called the “gold card,” aimed at “very high-level people” seeking a route to citizenship. Priced at approximately $5 million, this program would replace the EB-5 visa, which has faced issues of fraud. Commerce Secretary Howard Lutnick emphasized the intent to select “world-class global citizens,” while Trump noted that wealthy individuals who create jobs would qualify. He humorously acknowledged that Russian oligarchs might be eligible. Trump estimated that the program could be lucrative for the government, projecting the sale of potentially over a million gold cards.
On Tuesday, President Trump outlined his vision for a new visa initiative, which he referred to as the gold card, characterizing it as “similar to a green card, but with greater sophistication.”
This flashy new program would provide “very high-level individuals” with a new “pathway to citizenship,” Mr. Trump indicated. The cost for this would be approximately $5 million.
Mr. Trump shared details of his gold card proposal with journalists in the Oval Office during the signing of his latest executive orders, one of which pertained to tariffs on copper imports. His commerce secretary, Howard Lutnick, elaborated on the plan.
Mr. Lutnick described that “the Trump gold card,” as he labeled it, would take the place of the EB-5 visa program, which also offers a citizenship pathway for affluent foreign investors but has been associated with fraudulent activities. He suggested that the administration would exercise greater discernment regarding who could qualify for a gold card, though specifics were limited at this initial stage.
“We’re going to ensure they are outstanding, world-class global citizens,” said Mr. Lutnick.
Mr. Trump further emphasized, “It will be individuals with financial means and those who create jobs.”
When asked if a Russian oligarch could qualify for a gold card, Mr. Trump appeared amused. “Yeah,” he responded. “Possibly.”
He added, “I know some Russian oligarchs who are good people. It’s plausible.”
Mr. Lutnick chuckled as Mr. Trump continued, “They aren’t as wealthy as they once were.” Starting to laugh himself, the president remarked, “I think they can manage five million dollars.”
He predicted that the gold card program would be profitable for the government, suggesting that numerous companies would be willing to pay the $5 million fee to recruit skilled labor.
“We could potentially sell up to a million of these cards, or maybe even more,” Mr. Trump stated. “When you calculate the figures, they look quite good.”