Trump Announces $5 Million ‘Gold Card’ for U.S. Citizenship
Location: United States
In a groundbreaking announcement, former U.S. President Donald Trump revealed plans to introduce a $5 million “Gold Card” program, offering wealthy foreign investors the opportunity to live, work, and eventually gain citizenship in the United States. The program, set to launch within the next two weeks, has sparked both enthusiasm and criticism, raising questions about its implications for immigration and economic policy.
Program Details
The Gold Card initiative, as described by Trump, will allow foreign investors to purchase the card for approximately $5 million. This card will provide benefits similar to a Green Card, including the right to reside and conduct business in the U.S., with a pathway to citizenship. Trump emphasized that the program aims to attract affluent individuals who can contribute significantly to the U.S. economy.
During a press briefing on Tuesday, Trump stated, “We are going to sell a ‘Gold Card.’ You know about the Green Card, but this is a ‘Gold Card.’ We have priced it at around $5 million, which will provide Green Card benefits and also create a pathway to citizenship. Wealthy individuals will buy this card and come to our country.”
He added that the sale of Gold Cards is expected to begin within the next two weeks and expressed confidence that millions of cards could be sold.
Eligibility and Controversy
When asked whether Russian oligarchs would be eligible for the program, Trump responded, “Probably, yes. I know a few Russian oligarchs who are very good people.” This statement has raised eyebrows, given the ongoing geopolitical tensions and sanctions against certain Russian individuals.
The Gold Card program is seen as a replacement for the EB-5 Immigrant Investor Program, established by Congress in 1990. The EB-5 program granted permanent residency to foreign investors who contributed to economic development and job creation in the U.S. However, Trump’s Commerce Secretary, Howard Lutnick, criticized the EB-5 program as “meaningless, illusory, and fraudulent,” signaling the administration’s intent to replace it with the more lucrative Gold Card initiative.
Mixed Reactions
The announcement has elicited mixed reactions from policymakers, immigration advocates, and the public. Critics argue that the program prioritizes wealthy investors over ordinary immigrants, exacerbating inequality in the immigration system. They also express concerns about potential misuse of the program by individuals seeking to evade legal or financial scrutiny in their home countries.
On the other hand, supporters believe the Gold Card program will stimulate the U.S. economy by attracting large-scale investments and creating jobs. The Trump administration has defended the initiative as a means to boost economic growth and strengthen the nation’s financial standing.
Broader Implications
The Gold Card program represents a significant shift in U.S. immigration policy, focusing on high-net-worth individuals rather than traditional immigration pathways. If successful, it could set a precedent for other countries to adopt similar programs, reshaping global immigration trends.
However, the program’s long-term impact remains uncertain. While it may generate substantial revenue and investment, it also risks alienating those who view it as a commodification of citizenship and a departure from the principles of equal opportunity.
Conclusion
As the U.S. prepares to roll out the Gold Card program, the debate over its merits and drawbacks continues to intensify. While the initiative promises to attract wealthy investors and boost the economy, it also raises important questions about fairness, equity, and the future of immigration policy.
The world will be watching closely as the first Gold Cards are issued, marking a new chapter in the intersection of wealth, immigration, and citizenship.
