United States President Donald Trump announced a new immigration initiative called the Gold Card program, which will allow wealthy foreigners to obtain residency and a pathway to citizenship in exchange for a payment of USD 5 million. The initiative, which was reported by Cable News Network, is set to replace the existing EB-5 immigrant investor visa program. According to United States Secretary of Commerce Howard Lutnick, individuals applying for the Gold Card will undergo a thorough vetting process to ensure they meet high standards.
Eligibility and Launch Timeline
“They’ll have to go through vetting, of course, to make sure they’re wonderful, world-class global citizens,” Howard Lutnick said, emphasizing that the program is designed to attract high-net-worth individuals who can contribute significantly to the United States economy.
Donald Trump made the announcement during a media availability session in the Oval Office, where he signed an executive action to investigate the copper industry. He stated that sales of the Gold Card would commence within approximately two weeks and suggested that the demand could be substantial. “From a legal standpoint, it’s totally legal to do,” he said, dismissing concerns about the new program’s legitimacy.
Potential Beneficiaries and Russian Oligarchs
When asked if Russian oligarchs would be eligible for the Gold Card, Donald Trump did not rule out the possibility. “Yeah, possibly. I know some Russian oligarchs who are very nice people,” he said, leaving room for speculation about who might take advantage of the new residency program.
Trump’s Additional Remarks and Media Criticism
During the event, Donald Trump also commented on a newly renamed geographic feature, the Gulf of America, expressing his admiration for the map displaying the change. “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,’” he said, adding a lighthearted moment to the announcement.
He also used the occasion to criticize the Associated Press, labeling it as “radical left” and accusing its reporters of biased coverage. “I think they’re radical left. I think they’re third-rate reporters… They don’t treat us fairly,” he said, continuing his long-standing criticism of mainstream media outlets.
White House’s Stance on the Press and Program’s Outlook
White House Press Secretary Karoline Leavitt later defended the administration’s stance on the press, arguing that questioning the United States president is a privilege, not a legal right. During the briefing, Donald Trump was also seen distributing pamphlets titled “Trump was right about everything”, offering them to attendees and reiterating his belief in his policies and past decisions.
With the Gold Card program expected to launch soon, the proposal is likely to attract attention from investors and policymakers alike, as the administration continues to shape its immigration policies in alignment with economic priorities.
