Unusual Whales

TRUMP ON THE NEW "GOLD CARD": "If we sell a million - that's $5 trillion..."

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Trump Introduces $5 Million ‘Gold Card’ for Wealthy Immigrants

President Donald Trump has announced a new pathway to U.S. residency: a "gold card" for affluent foreigners willing to pay millions for the right to live and work in the country.

Modeled after the existing green card—which grants permanent residency to non-citizens—the gold card is designed to attract high-net-worth individuals who can contribute significant capital to the U.S. economy.

“It’s going to be a route to citizenship,” Trump said Tuesday while unveiling the program from the Oval Office alongside Commerce Secretary Howard Lutnick. “Wealthy people will be coming into our country by buying this card. They’ll be successful, they’ll be spending a lot of money, paying a lot of taxes, and employing a lot of people.”

Replacing the EB-5 Visa Program

The new initiative will replace the EB-5 visa program, which has allowed foreign investors to obtain U.S. residency since 1990. The EB-5 program required applicants to invest around $1 million (or $800,000 in some cases) and prove their investment would create at least 10 full-time jobs. However, it has faced criticism over fraud and abuse, including a high-profile scandal involving Vermont ski resort developers embezzling funds from foreign investors.

“The EB-5 program is full of nonsense, make-believe, and fraud,” Lutnick said. “So the President said, rather than having this sort of ridiculous EB-5 program, we’re going to end it. We’re going to replace it with the Trump Gold Card—which is really a Green Card Gold.”

How the Gold Card Works

  • The cost of the gold card will be $5 million per applicant.
  • It will grant green card privileges, including the ability to live and work in the U.S. without employer sponsorship.
  • Unlike the EB-5 visa, the gold card will not require proof of job creation or other investment criteria.
  • Cardholders will be able to travel freely and begin the process of applying for U.S. citizenship.

When Will It Be Available?

According to Lutnick, the gold card program will launch within two weeks.

Shifting Immigration Policy

The introduction of the gold card comes as the Trump administration pushes for sweeping changes to immigration policy, including tightening restrictions on other forms of immigration and seeking to end birthright citizenship. The move underscores Trump’s strategy of favoring wealth-based immigration while restricting other pathways to residency and citizenship.