US President Donald Trump has announced a new “Gold Card” program, allowing wealthy foreigners to gain green-card status and a path to citizenship by investing $5 million.
Trump aims to replace the existing EB-5 Immigrant Investor Program, which grants green cards to those investing in US businesses that create or sustain jobs. He criticized EB-5 as being “full of fraud” and stated that the Gold Card would attract high-net-worth individuals while helping pay off the national debt.
“We will be selling a Gold Card for about $5 million, giving green card privileges and citizenship pathways to wealthy investors,” Trump said, predicting that one million cards could be sold. He hinted at further details in two weeks.
When asked about Russian oligarchs’ eligibility, Trump responded, “Possibly. I know some very nice Russian oligarchs.”
Commerce Secretary Howard Lutnick supported the move, calling the EB-5 program “ridiculous” and emphasizing that the Gold Card would be a more transparent alternative.
The EB-5 program, established in 1990, aimed to boost the US economy through foreign investments but has faced allegations of fraud and misuse. Trump’s Gold Card proposal seeks to streamline the process while bringing in affluent immigrants.
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