On Tuesday, President Donald Trump introduced a new “Gold Card” for immigrants, which will be sold for $5 million. This card, which serves as a premium version of the Green Card, will offer immigrants a “pathway to citizenship.”
“We’re going to sell a gold card. You already have a green card, now this is the gold card. The price will be around $5 million, and it will provide you with green card privileges and more,” Trump said during a signing of executive orders in the Oval Office with Commerce Secretary Howard Lutnick.
“It’s a route to citizenship. Wealthy individuals will enter our country by purchasing this card. They’ll bring wealth, be successful, spend money, pay taxes, and create jobs,” he added.
Trump also mentioned that the program would begin in two weeks, and he believed that his administration didn’t need Congressional approval to proceed. However, the exact implementation details of the program remain unclear.
Potential Replacement for EB-5 Program?
Lutnick suggested that the “Gold Card” initiative could replace the current EB-5 program, which allows immigrant investors to obtain Green Cards by investing in US businesses. He said the funds from the “Gold Card” might go directly to the government.
“The president said, instead of continuing with the EB-5 program, we’ll end it and replace it with the Trump gold card,” Lutnick said. “For $5 million, immigrants can pay the US government, bypassing some vetting, though we’ll still ensure they are top-quality global citizens.”
“They can come to America, get a green card from the president, invest in the country, and we’ll use that money to help reduce the national deficit,” he added.
