President Trump plans to introduce a “gold card” program allowing wealthy immigrants to obtain U.S. citizenship for $5 million. This initiative aims to replace the current EB-5 immigrant investor visa program and potentially sell one million cards, generating funds to reduce national debt. The “gold card” would grant green-card residency status and a pathway to citizenship, attracting affluent individuals to the U.S. Trump acknowledged that Russian oligarchs might qualify for the program. More details are expected in two weeks, as officials criticize the EB-5 program for alleged fraud and inefficiencies, advocating for the new gold card scheme instead.
Washington, DC:
US President Donald Trump intends to streamline the process for wealthy immigrants seeking American citizenship through “gold cards” available for purchase at $5 million. The President stated that these “gold cards” would provide green-card residency status and a pathway to American citizenship for foreign nationals, anticipating the sale of one million cards.
According to Mr. Trump, the initiative could significantly reduce the national debt. He informed reporters that he plans to replace the existing “EB-5” immigrant investor visa program—which permits foreign investors who commit substantial funds to create or preserve US jobs to obtain permanent residency—with the new “gold card.”
The EB-5 program awards “green cards” to foreigners who pledge to invest in US enterprises.
“We are going to be selling a gold card…We are going to be putting a price on that card of about $5 million,” Mr. Trump declared.
“It’s going to provide you with green card privileges, and it will serve as a pathway to (American) citizenship, attracting wealthy individuals to our country by acquiring this card,” he further explained.
The President mentioned that additional information regarding the proposal would be released in two weeks. When a journalist inquired if Russians would be eligible for the program, he suggested that Russian oligarchs might qualify. “Yeah, possibly. Hey. I know some Russian oligarchs who are very nice people,” he remarked.
About the EB-5 Immigrant Investor Program
The EB-5 Immigrant Investor Program, overseen by the U.S. Citizenship and Immigration Services, was established by Congress in 1990 to “stimulate the U.S. economy through job creation and capital investment by foreign investors,” as stated on the USCIS website.
“The EB-5 program … it was riddled with nonsense, make-believe, and fraud, making it a low-cost way to obtain a green card. So the president noted that instead of continuing with this absurd EB-5 program, we’re going to terminate it. We’re going to replace it with the Trump gold card,” Commerce Secretary Howard Lutnick informed reporters on Tuesday.