US President Launches $5 Million ‘Trump Card’: Know Who Can Buy It

Washington: US President Donald Trump introduced the “Gold Card” visa, priced at $5 million and featuring his image on Friday. This initiative is set to replace the 35-year-old EB-5 investor visa program.

The Trump administration aims to boost the US economy with this program, offering a premium version of the Green Card that grants permanent residency to eligible foreign nationals. While the Gold Card does not guarantee immediate US citizenship, it provides a pathway to obtaining it.

Commerce Secretary Howard Lutnick previously criticized the EB-5 program and called it full of “nonsense” and “fraud.”  

“You have a green card; this is a gold card,” Trump told reporters while unveiling the card, revealing he is the first buyer. “It’s going to give you green card privileges plus it’s going to be a route to (American) citizenship,” the president added.

Who Can Buy the Gold Card?

Trump declared that the cards are likely to be available in “less than two weeks” and are targeted at wealthy foreign nationals and investors.

He stated that it would allow companies to support talented international students, particularly from countries like India, who have studied in the United States, encouraging them to stay and contribute to the workforce.

To be eligible for the Golden Visa, applicants would undergo thorough vetting to ensure they meet the standards of “world-class global citizens.”  

When asked if the initiative would be open to people from China and Iran, Trump suggested it would likely not be “restricted too much in terms of countries, but maybe in terms of individuals.”

The president suggested the government could sell up to 1 million visas, potentially generating $5 trillion to help reduce the national deficit.

Trump emphasized that he wants “productive” people to work in the US, and that the $5 million investment would create jobs and help pay off the US debt.