Trump announces 'Gold Card' program for wealthy foreigners, offering US residency for USD 5 million
Feb 26, 2025
Washington DC [US], February 26 : US President Donald Trump announced on Tuesday (local time) that the United States will introduce a "gold card" for wealthy foreigners, granting them the right to live and work in the country, with a pathway to citizenship, in exchange for a USD five million fee, CNN reported.
The CNN report, citing Commerce Secretary Howard Lutnick stated that the gold card will replace the existing EB-5 immigrant investor visa program.
"They'll have to go through vetting, of course,"the CNN report, citing the Commerce Secretary, said. "To make sure they're wonderful world-class global citizens." Lutnick added.
Trump made the announcement during a media availability in the Oval Office, where he also signed an executive action investigating the copper industry and answered questions on various topics.
He stated that sales of the gold cards would begin in about two weeks and suggested that millions could be sold. "From the legal standpoint, it's totally legal to do," he said.
When asked if Russian oligarchs would be eligible to buy the cards, Trump responded: "Yeah, possibly. I know some Russian oligarchs that are very nice people," CNN report added.
During the event, Trump also admired a map of the newly renamed Gulf of America, and said, "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.'"
Continuing his remarks, Trump slammed the Associated Press, calling it "radical left."
"I think they're Radical Left. I think they're third-rate reporters ... They don't treat us fairly," he said.
Earlier, White House Press Secretary Karoline Levitt defended the administration's stance on the Associated Press, asserting that questioning the US President is a privilege, not a legal right.
During the briefing, Trump was seen distributing pamphlets that read, "Trump was right about everything."
"Look. You see that? Trump was right about everything... Would anybody like one?" he said.
