Trump Proposes $5 Million “Gold Card” Residency Permits, With Potential to Attract Wealthy Russians
In a bold move to boost the U.S. economy and reduce the national deficit, President Donald Trump announced plans on Tuesday to sell new “gold card” residency permits for a hefty price tag of $5 million each.
This luxury visa would serve as an exclusive, high-priced version of the traditional green card, granting holders the opportunity to live, work, and build businesses in the U.S.
Trump unveiled the plan during a press briefing in the Oval Office, where he emphasized the potential of the program to attract job creators. “We’re going to be selling a gold card. You have a green card, this is a gold card.
The price will be around $5 million,” he told reporters. “This is a way to bring in people who can create jobs, build companies, and help reduce the U.S. national deficit.”
The president, who has made immigration reform a cornerstone of his second term, said the gold card would provide a pathway to highly coveted U.S. citizenship for individuals with financial means. “A lot of people are going to want to be in this country, and they’ll be able to work and provide jobs. It’ll be people with money,” Trump explained, noting that sales of the new visa would begin in about two weeks.
“We could potentially sell a million of these cards, and we have it all worked out from a legal standpoint,” he added, suggesting the program could generate substantial revenue.
Though Trump made it clear that all applicants would undergo thorough vetting, the topic of eligibility for wealthy Russians quickly emerged. When asked if Russian oligarchs could apply for the gold card, Trump responded with a shrug, “Possibly. I know some Russian oligarchs who are very nice people. They’re not as wealthy as they used to be, but I think they can afford $5 million.”
The possibility of Russian oligarchs participating comes amidst heightened tensions, as many have faced sanctions following Russia’s invasion of Ukraine.
Trump’s remarks on the matter raised eyebrows, particularly given his recent overtures to Russia in hopes of negotiating an end to the conflict. While lifting sanctions on Russia was not currently on the table, Trump did suggest it could be a possibility “at some point.”
Alongside Trump, U.S. Commerce Secretary Howard Lutnick stood by, highlighting the financial upside of the gold card program. “We can use that money to reduce our deficit,” Lutnick stated, underscoring the fiscal benefits.
Trump also entertained the idea of branding the new residency permits with his name, stating, “Somebody asked, ‘Can we call it the Trump gold card?’ I said, ‘If it helps, use the name Trump.’”
The announcement has already sparked significant debate, with critics questioning the implications of offering U.S. residency for sale, while others see it as a novel solution to the country’s fiscal challenges. As the plan takes shape, the world is watching closely to see how this “gold card” initiative will unfold.
