Trump Proposes $5 Million ‘Gold Card’ for Wealthy Foreigners Seeking U.S. Residency

Washington, DC (February 25, 2025) — President Donald Trump announced Tuesday that the United States will introduce a new “gold card” program, offering wealthy foreigners the right to live and work in the U.S. along with a pathway to citizenship in exchange for a $5 million fee.

Speaking from the Oval Office, Trump described the initiative as an upgrade to the traditional green card system. “You have a green card. This is a gold card,” he said. “For $5 million, you’ll get green card privileges and a route to citizenship. Wealthy individuals from around the world will be able to come to our country by purchasing this card.”

The sale of the gold cards is expected to begin in approximately two weeks, with Trump suggesting that millions could potentially be sold.

When asked whether Russian oligarchs might be eligible for the program, Trump said, “Yeah, possibly. I know some Russian oligarchs who are very nice people.”

Commerce Secretary nominee Howard Lutnick, who joined Trump at the announcement, stated that the gold card will replace the government’s EB-5 immigrant investor visa program. The EB-5 program currently allows foreign investors to obtain visas by investing in U.S. projects that create jobs.

“They’ll still need to undergo thorough vetting,” Lutnick said, “to ensure they are exceptional, world-class global citizens.”

The EB-5 program, established by Congress in 1992, grants green cards to immigrants who invest at least $1,050,000—or $800,000 in economically distressed areas—in projects that create American jobs. The program has faced bipartisan criticism for straying from its original goals and calls for reform.

Trump’s businesses, along with those connected to his family, have previously utilized the EB-5 program to finance significant real estate developments.

During Trump’s first term, his administration attempted to increase the minimum investment amounts to $900,000 for targeted employment areas and $1.8 million elsewhere. However, a federal judge invalidated the change in 2021, ruling that the acting Homeland Security secretary who enacted the policy was not properly appointed.

The EB-5 program was last renewed under President Joe Biden’s administration in 2022, raising the minimum investment requirements to the current levels.