President Donald Trump has unveiled a new “gold card” visa initiative, allowing wealthy foreign investors to obtain U.S. permanent residency and a pathway to citizenship for a $5 million fee. This program is set to replace the existing EB-5 visa, which required a minimum investment of $1.05 million and the creation of at least ten full-time jobs. The administration aims to attract affluent individuals who can contribute significantly to the U.S. economy through substantial spending and tax contributions.
Commerce Secretary Howard Lutnick emphasized that applicants would undergo thorough vetting to ensure they are “world-class global citizens.” The revenue generated from the gold card program is intended to help reduce the national deficit. The administration plans to release detailed guidelines for the program within the next two weeks.
When questioned about the eligibility of Russian oligarchs, President Trump acknowledged they could qualify for the gold card, stating, “Yeah, possibly. Hey. I know some Russian oligarchs that are very nice people.” This remark has sparked discussions about the potential implications of the program, especially concerning national security and the vetting process for applicants from countries with complex geopolitical relationships with the United States
