U.S. President Donald Trump has announced a new immigration program allowing wealthy foreign investors to obtain U.S. residency and a path to citizenship for a $5 million payment. Dubbed the “gold card,” the initiative would replace the existing EB-5 visa program, which currently grants green cards to individuals who invest in U.S. businesses that create or preserve jobs.
Speaking to reporters on Tuesday, Trump said the program would launch in two weeks and asserted that his administration did not need congressional approval. “We are going to be selling a gold card,” Trump said. “We are going to be putting a price on that card of about $5 million.” He described the program as an opportunity to attract affluent individuals to the United States, offering them “green card privileges” along with a direct path to citizenship.
While details of the program remain unclear, Trump’s remarks suggest that the initiative is intended to generate revenue and incentivize investment. When asked whether Russian oligarchs would be eligible, Trump responded, “Yeah, possibly. Hey. I know some Russian oligarchs that are very nice people.”
The announcement comes as Trump continues his administration’s aggressive crackdown on undocumented immigration, a policy that has affected Caribbean nationals. He has also reversed the Biden administration’s decision to extend Haiti’s Temporary Protected Status (TPS) by 18 months, meaning Haiti’s TPS designation will now end on August 3, 2025. This decision puts thousands of Haitians at risk of deportation, despite ongoing instability in their home country.
For many Caribbean immigrants who have lived in the U.S. for years but now face deportation, Trump’s proposal to sell residency and a path to citizenship to the wealthy may seem like a stark contrast. Critics are likely to scrutinize the program, raising concerns about selling U.S. residency to the highest bidder while imposing restrictive policies on other immigrants. The White House has yet to release a formal policy outlining how the “gold card” program will be implemented.
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