US President Donald Trump has unveiled a controversial “Gold Card” scheme, allowing affluent individuals to secure a fast track to American citizenship for $5 million (approx ₹44 crore). Positioned as an elite upgrade to the Green Card, this initiative is expected to replace the existing EB-5 visa program, which currently requires a $1 million investment.

“We’re gonna be selling a gold card. It’s gonna provide green card privileges plus a pathway to citizenship,” Trump announced at a White House briefing, offering limited specifics. He suggested the program might be implemented through executive action, though visa regulations typically require Congressional approval.

Several countries, including St Lucia, Turkey, and Jordan, already offer citizenship for lower investment amounts, usually tied to job creation or economic contributions. However, Trump’s proposal raised concerns over potentially granting US citizenship to individuals without clear vetting criteria. A reporter’s question about Russian oligarchs buying into the program was met with Trump’s characteristic retort: “Yeah, possibly. I know some Russian oligarchs that are very nice people.”

Critics worry the initiative prioritizes the ultra-wealthy over millions stuck in the existing Green Card backlog, particularly Indian professionals waiting decades for permanent residency. Meanwhile, Trump supporters argue the scheme could generate massive revenue, with some suggesting it could even help offset the $36 trillion national debt.

Read Also: