Trump Unveils $5 Million 'Gold Card' Program for Wealthy Immigrants
U.S. President Donald Trump announced a new “gold card” program on February 25, 2025, offering wealthy individuals a $5 million path to U.S. residency and citizenship. The initiative, unveiled during a press briefing in the Oval Office, aims to attract affluent immigrants who can contribute to the economy through investments, job creation, and tax payments. Trump emphasized that applicants would undergo rigorous vetting but did not specify any country-specific restrictions, leaving the door open for Russian oligarchs to apply. “I know some Russian oligarchs that are very nice people,” Trump remarked, adding that they could likely afford the $5 million fee despite Western sanctions impacting their wealth.
The gold card program is set to replace the existing EB-5 Immigrant Investor visa, which requires a $1 million investment in a U.S. business employing at least 10 people. Commerce Secretary Howard Lutnick clarified that the new initiative would eliminate fraud and streamline the process, offering a direct route to permanent residency and eventual citizenship. The program is expected to launch within two weeks and does not require Congressional approval, according to Trump.
Critics have raised concerns about potential abuse and national security risks, but supporters argue that the program could significantly benefit the U.S. economy. Anthony Esposito, founder of Island Capital Investments, highlighted the potential for job creation, consumer spending, and tax revenue, estimating that 1 million gold card recipients could generate $5 trillion for the U.S. Treasury. The program aligns with Trump’s broader immigration policies, which have focused on stricter border controls while creating pathways for high-net-worth individuals to invest in the U.S.
The announcement comes amid Trump’s increasingly friendly overtures toward Russia, including discussions with Russian President Vladimir Putin and efforts to negotiate deals involving rare earth minerals. The gold card program underscores Trump’s emphasis on attracting wealth and investment to the U.S., even as his administration continues to crack down on other forms of immigration.
Trump says Russian oligarchs could be eligible for $5 million US 'gold card'
I know some Russian oligarchs that are very nice people, Trump told reporters on Feb. 25.
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