Trump Announces Plans to Sell ‘Gold Card’ US Visas for $5 Million

AFP/APP

Washington: US President Donald Trump unveiled plans on Tuesday to sell new “gold card” residency permits for $5 million each, with the intention of attracting job creators and potentially reducing the national deficit. The gold card would serve as a high-price version of the traditional green card, offering applicants a pathway to US citizenship.

In an announcement made in the Oval Office, Trump stated, “We’re going to be selling a gold card. You have a green card, this is a gold card. We’re going to be putting a price on that card of about $5 million.” The president emphasized that the sale of these visas would bring in individuals with significant wealth who could contribute to the economy by creating jobs and building companies.

Trump also addressed the possibility of wealthy foreign nationals, including Russian oligarchs, being eligible for the gold card. “Possibly. I know some Russian oligarchs that are very nice people. It’s possible,” Trump remarked when asked if Russians would be able to apply. He noted that many Russian oligarchs have been impacted by Western sanctions due to Russia’s involvement in the Ukraine conflict.

Sales of the cards are set to begin in about two weeks, with Trump suggesting the US could sell as many as a million of these new residency permits. He also hinted that the funds raised from the sale could be used to help reduce the national deficit.

Commerce Secretary Howard Lutnick, who was present during the announcement, highlighted that the revenue from the sale of gold cards could be put toward addressing the country’s financial challenges.

In a more personal note, Trump even suggested the possibility of branding the gold card with his name. “Somebody said, ‘Can we call it the Trump gold card?’ I said, ‘If it helps, use the name Trump,'” he said.

This proposal marks a bold move by the president, blending immigration policy with economic considerations, and will likely spark significant debate over the ethics and implications of such a program.