President Donald Trump introduced a new high-value residency permit known as the “Gold Card.” This premium alternative to the traditional green card comes with a hefty price tag of $5 million and is designed to attract wealthy investors, business leaders, and job creators to the United States.
According to Trump, the Gold Card will provide a pathway to U.S. residency and, ultimately, citizenship for those who can afford it. “A lot of people want to be in this country, and they’ll be able to work, create jobs, and build companies,” he stated. “It’ll be people with money.”
This initiative aligns with Trump’s long-standing emphasis on merit-based immigration and economic growth. While his administration has prioritized strict enforcement and deportation of undocumented immigrants, this program appears to offer an exclusive entryway for high-net-worth individuals seeking a foothold in the U.S.
Trump and his administration are framing this initiative as a strategic financial move to help reduce the U.S. national deficit. Commerce Secretary Howard Lutnick, standing alongside Trump during the announcement, highlighted the economic benefits, stating, “We can use that money to reduce our deficit.”
The administration estimates that the program could attract up to a million applicants, generating substantial revenue. However, the actual demand for such an expensive visa remains uncertain.
While specific eligibility criteria have yet to be fully detailed, Trump assured that all applicants would undergo a thorough vetting process. When questioned about whether wealthy Russian oligarchs could qualify, Trump acknowledged the possibility.
“I know some Russian oligarchs that are very nice people. It’s possible,” he said, adding that many Russian elites have faced financial difficulties due to Western sanctions following Moscow’s invasion of Ukraine.
The announcement has sparked debate, particularly given Trump’s recent diplomatic overtures to Russia. His willingness to negotiate an end to the ongoing war in Ukraine has raised concerns among European allies.
Additionally, his comment about potentially lifting sanctions on Russia “at some point” has only added to the speculation surrounding his foreign policy agenda. In true Trump fashion, branding also became part of the discussion. “Somebody said, ‘Can we call it the Trump Gold Card?’ I said, ‘If it helps, use the name Trump,’” he remarked.
AFP