President Donald Trump has come up with a new way to help pay down America’s debt. Earlier in the week the president introduced a new immigration initiative, unveiling what he calls the “gold card” visa—a premium alternative to the traditional U.S. green card. Speaking from the Oval Office while signing executive orders, including one imposing tariffs on copper imports, Trump detailed the plan, which would offer a pathway to U.S. citizenship for high-net-worth individuals willing to make a substantial financial investment.
Describing the proposal as “somewhat like a green card, but at a higher level of sophistication,” Trump has set a minimum investment threshold for applicants, writes NPR.
For $5 million, people will be able to apply to become lawful permanent residents. Trump said the program would be rolled out in two weeks, would bring in “very high-level people,” and said the proceeds from the program could help pay down the deficit.
“It’s going to be a route to citizenship, and wealthy people will be coming into our country by buying this card. They’ll be wealthy, and they’ll be successful, and they’ll be spending a lot of money and paying a lot of taxes,” Trump told reporters at an unrelated event in the Oval Office on Tuesday.
Trump’s Commerce Secretary Howard Lutnick called it the “Trump Gold Card” and said it would effectively replace the current EB-5 immigrant investor visa. That program gives residency to foreigners who invest at least $1.05 million in a new business that creates jobs — or $800,000 if the business is in a rural area, high unemployment area or an infrastructure project.
Lutnick told reporters the EB-5 program was “full of nonsense, make-believe and fraud.” He emphasized that applicants for the “gold card” would be vetted.
When asked by a liberal reporter whether Russian oligarchs might qualify for the program, Trump joked about the possibility. “Hey, I know some Russian oligarchs that are nice people. It’s possible,” he mocked, adding that while their wealth may have declined in recent years, many could still afford the $5 million requirement.
REPORTER: Would a Russian oligarch be eligible for a gold card?
TRUMP: Yeah, possibly. Hey. I know some Russian oligarchs that are very nice people. pic.twitter.com/o7eAOvhp2l
— Faizal Mammar (@faizal_mammar) February 26, 2025
Trump projected that the initiative could generate substantial revenue for the U.S. government, estimating that corporations might use the program to sponsor a large number of skilled workers. “We’ll be able to sell maybe a million of these cards, maybe more than that,” he said. “If you add up the numbers, they’re pretty good.”
