On Tuesday, U.S. President Donald Trump announced a proposal to sell new “gold card” residency permits for $5 million each, with potential eligibility for Russian oligarchs.
The new visa, a high-priced version of the traditional green card, is part of Trump’s plan to attract job creators and help reduce the U.S. national deficit.
“We’re going to be selling a gold card. You have a green card, this is a gold card,” Trump told reporters in the Oval Office. “The price will be about $5 million.” He emphasized that the program would bring wealthy individuals into the country, who could invest, create jobs, and start companies.
Trump, who has made immigration reform and the deportation of undocumented migrants a priority in his second term, said the gold card would serve as a pathway to U.S. citizenship. “A lot of people are going to want to be in this country, and they’ll be able to work and provide jobs and build companies. It’ll be people with money,” he added.
The sales of the cards are expected to begin in about two weeks, with Trump suggesting that up to a million cards could be sold. “We have it all worked out from a legal standpoint,” he said.
While Trump assured that all applicants would be carefully vetted, he was asked whether wealthy Russians could apply. He responded, “Possibly. I know some Russian oligarchs that are very nice people. It’s possible. They’re not as wealthy as they used to be. I think they can afford $5 million.”
Trump’s comments come as several Russian oligarchs have faced sanctions from the West following Russia’s invasion of Ukraine three years ago. The U.S. president has previously shocked European leaders by suggesting he could negotiate with Russia to end the war, raising concerns that he might offer Ukraine fewer concessions.
Regarding the gold card program, Trump suggested it could serve to reduce the U.S. national deficit. “We can use that money to reduce our deficit,” added U.S. Commerce Secretary Howard Lutnick, who was present at the announcement.
Trump, known for branding a range of hotels and casinos throughout his business career, also suggested the new cards could be named after him. “Somebody said, ‘Can we call it the Trump gold card?’ I said, ‘If it helps, use the name Trump,’” he remarked.
AFP
