US President Donald Trump speaks to the press in the Oval Office of the White House, in Washington, DC. (Photo by Jim WATSON / AFP) (Photo by JIM WATSON/AFP via Getty Images)
(EPICSTORIAN) — A new immigration initiative could allow affluent foreign investors to gain U.S. residency through a $5 million “gold card” program, President Donald Trump announced Tuesday.
The program, expected to launch within two weeks, would grant holders the right to live and work in the United States, along with a pathway to citizenship.
“This is a gold card. We’re putting a price on it of about $5 million. That’s going to give green card privileges, plus a route to citizenship. Wealthy people will be coming into our country by buying this card,” Trump said from the Oval Office.
Commerce Secretary Howard Lutnick confirmed that the initiative would replace the EB-5 immigrant investor visa program.
The EB-5, established in 1992, allows foreign investors to obtain green cards by funding U.S. projects that create jobs. Current rules require a minimum investment of $1,050,000 or $800,000 in designated economic zones.
Lutnick emphasized that applicants would still undergo background checks. “They’ll have to go through vetting, of course, to make sure they’re wonderful, world-class global citizens,” he stated.
Trump Says Rich Russians May be Eligible For U.S. $5 million Gold Card
Questions about eligibility for Russian oligarchs arose during the announcement. “Yeah, possibly,” Trump responded. “I know some Russian oligarchs that are very nice people.”
Congress has debated the EB-5 program for years, with concerns over fraud and national security. Attempts to raise investment thresholds during Trump’s first term were blocked in court.
The program was later renewed under President Joe Biden in 2022 with updated financial requirements.
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The proposed “gold card” policy signals a shift in U.S. immigration priorities, focusing on investment-based residency over other pathways.
