Trump Introduces ‘Gold Card’ Program Offering US Residency for Wealthy Foreigners at USD 5 Million
"Trump announces the 'Gold Card' program, offering US residency and a path to citizenship for wealthy foreigners investing USD 5 million. Learn more about the new policy."
Washington: In a major policy shift, US President Donald Trump announced the introduction of a ‘Gold Card’ residency program for wealthy foreign nationals.
This initiative grants foreign investors the right to live, work, and eventually acquire US citizenship in exchange for a USD 5 million investment, according to a CNN report.
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Gold Card to Replace the EB-5 Immigrant Investor Visa
The new program will replace the existing EB-5 immigrant investor visa, which previously allowed foreign investors to obtain a green card by investing in the US economy. According to Commerce Secretary Howard Lutnick, the Gold Card initiative aims to attract affluent global citizens who contribute significantly to the American economy.
“They’ll have to go through a vetting process, of course,” Lutnick stated. “We want to ensure that only world-class, respectable individuals become part of this program.”
Trump Announces Gold Card Sales to Begin Soon
During an Oval Office media session, President Trump confirmed that sales of the Gold Card will begin in approximately two weeks. He suggested that millions of these cards could potentially be sold, reinforcing his administration’s stance on encouraging foreign investment.
“From a legal standpoint, it’s completely legal,” Trump stated, addressing concerns regarding the program’s legitimacy and possible exploitation.
Eligibility Concerns: Can Russian Oligarchs Apply?
When asked about whether Russian oligarchs would be eligible for the Gold Card program, Trump gave a controversial response, stating:
“Yeah, possibly. I know some Russian oligarchs that are very nice people.”
This statement is likely to spark debate on national security concerns and foreign influence in the US, especially given the historical scrutiny over Trump’s past interactions with Russian businessmen and officials.
Trump Comments on Gulf of America and Criticizes the Associated Press
During the same event, President Trump also took time to admire a map of the newly renamed ‘Gulf of America’, saying:
“I’m just admiring it as I look at it. I’m getting teary-eyed—but I don’t want you to say, ‘Trump broke down and started crying.’”
Additionally, he used the media event to criticize the Associated Press (AP), calling it a “radical left” organization.
“I think they’re Radical Left. I think they’re third-rate reporters… They don’t treat us fairly,” he remarked.
White House Defends Trump’s Stance on Press Freedoms
White House Press Secretary Karoline Levitt backed the administration’s viewpoint, emphasizing that questioning the President is a privilege, not a right.
This remark has already ignited concerns over press freedom, with critics arguing that such statements challenge the constitutional protections for journalists.
Trump Hands Out Pamphlets Claiming He Was ‘Right About Everything’
Adding to the spectacle, President Trump was seen distributing pamphlets to attendees that read:
“Trump was right about everything.”
“Look. You see that? Trump was right about everything… Would anybody like one?” he asked, offering copies to the audience.
The Implications of the Gold Card Program
The announcement of the Gold Card program has sparked widespread discussions on its potential impact. While supporters argue that it will bring significant foreign investment and boost economic growth, critics warn that it could lead to concerns over money laundering, security risks, and unfair advantages for the ultra-wealthy.
Experts also predict that this initiative may face legal challenges from lawmakers and immigration rights activists, who have long opposed preferential treatment for wealthy immigrants.
