As President Donald Trump and his administration initiate ICE raids targeting undocumented immigrants across the country, a new immigration policy has emerged. Trump announced plans for a new immigration pathway, offering a unique “gold card” to affluent individuals, including “Russian oligarchs,” priced at $5 million.
During a discussion with reporters in the Oval Office on Tuesday, Trump revealed that this program would replace the existing “EB-5 immigrant investor visa” program. The current EB-5 program provides green cards to foreign investors who invest between $500,000 to $1 million and create at least 10 jobs within the United States.
“We’re going to be selling a gold card. You have a green card, now this is a gold card,” Trump stated. “We’re setting a price of about $5 million on that card, which will offer green card privileges and a route to U.S. citizenship.” Trump emphasized that the program is designed to attract wealthy, successful individuals who would significantly contribute to the U.S. economy through spending, taxes, and job creation.
When questioned about the eligibility of a Russian oligarch for the gold card, Trump responded, “Yeah, possibly,” and mentioned, “Some Russian oligarchs I know are nice people. It’s possible.” He added humorously, “They’re not as wealthy as they used to be, but I think they can afford five million dollars.”
Commerce Secretary Howard Lutnick, present at the meeting, explained that applicants for the gold card would undergo vetting to ensure they are “wonderful world-class, global citizens.” Lutnick suggested that proceeds from the program could help in reducing the country’s deficit.
Trump speculated that the U.S. might sell up to a million of these cards, which could generate substantial revenue. “If you add up the numbers, they’re pretty good,” he commented on the potential economic benefits.
However, it remains uncertain how Trump can unilaterally eliminate the current EB-5 visa program, which was reauthorized in 2022, without Congress's approval. Furthermore, detailed eligibility criteria and full details of the proposed gold card initiative have yet to be disclosed.
