U.S. President Donald Trump on Tuesday unveiled a new immigration initiative to sell high-priced “gold card” residency permits for $5 million each, positioning the program as a means to attract wealthy investors and reduce the national deficit.
Speaking to reporters in the Oval Office, Trump described the gold card as an elite alternative to the traditional green card, offering a pathway to U.S. citizenship for affluent individuals.
“We’re going to be selling a gold card. You have a green card, this is a gold card,” Trump said. “We’re putting a price on that card of about $5 million.”
The Republican president, who has prioritized the deportation of undocumented migrants in his second term, argued that the initiative would attract job creators and business leaders to the country.
“A lot of people are going to want to be in this country, and they’ll be able to work, provide jobs, and build companies,” Trump stated. “It’ll be people with money.”
Russian Oligarchs ‘Possibly’ Eligible
Trump revealed that the administration aims to sell up to one million gold cards, asserting that the program had been “legally worked out.” He also confirmed that all applicants would be thoroughly vetted.
When asked whether Russian oligarchs—many of whom have been targeted by Western sanctions since Russia’s 2022 invasion of Ukraine—could apply, Trump did not rule out the possibility.
“Possibly. I know some Russian oligarchs that are very nice people. It’s possible,” he said. “They’re not as wealthy as they used to be. I think they can afford $5 million.”
Trump’s comments come amid growing concerns in European capitals over his willingness to negotiate directly with Russia to end the ongoing war in Ukraine. While acknowledging that lifting sanctions on Russia could happen “at some point,” he said it was not currently under consideration.
A Revenue Boost for the U.S. Deficit
Standing alongside Trump in the Oval Office, U.S. Commerce Secretary Howard Lutnick said proceeds from the gold card program could help address the country’s deficit.
“We can use that money to reduce our deficit,” Lutnick said.
Trump, a former real estate mogul known for branding luxury properties, even suggested the new permits could carry his name.
“Somebody said, ‘Can we call it the Trump gold card?’ I said, ‘If it helps, use the name Trump,’” he quipped.
The administration expects sales of the new residency permits to begin within weeks.
