President Donald Trump has announced that the U.S. will introduce a “gold card” program, allowing wealthy foreigners to live and work in the country in exchange for a $5 million fee. The initiative also offers a path to citizenship.
Speaking on Tuesday during a media availability in the Oval Office, Trump stated that sales of the gold card would begin in about two weeks, suggesting that millions could be issued.
“From the legal standpoint, it’s totally legal to do,” Trump said.
When asked if Russian oligarchs would be eligible, he responded, “Yeah, possibly. I know some Russian oligarchs that are very nice people.”
Commerce Secretary Howard Lutnick noted that the gold card would replace the existing EB-5 immigrant investor visa program.
“They’ll have to go through vetting, of course, to make sure they’re wonderful world-class global citizens,” Lutnick added.