U.S. President Donald Trump spoke on February 25, 2025, the day he signed an executive order in the Oval Office in Washington, DC.
Evelyn Hawkstan | Reuters
U.S. President Donald Trump on Tuesday proposed the idea of replacing visa programs for foreign investors with so-called “gold cards” that could be purchased for $5 million as a way to U.S. citizenship.
Trump told reporters that he would replace the “EB-5” immigration investor visa program, which allows foreign investors to have a large amount of funds that create or retain U.S. jobs and become permanent residents and use what is called a “gold medal.”
The EB-5 program awards a “green card” to foreigners who promise to invest in American businesses.
“We will sell the gold card,” Trump said, adding: “We will invest about $5 million in the price of this card.”
“This will bring you green card privileges, it will be a pathway to (US) citizenship, and wealthy people will enter our country by purchasing this card,” Trump said.
Trump added that Russian oligarchs may be eligible for gold when reporters ask whether these people are eligible. He said, “Yes, maybe. Hey. I know some Russian oligarchs are very good people.”
According to the USCIS website, Congress created the EB-5 immigration investment program managed by the U.S. Citizenship and Immigration Services in 1990 to “stimulate the U.S. economy through job creation and capital investment by foreign investors.”
“The EB-5 program…full of nonsense, making you believe and cheat, is a way to get a low-priced green card. So instead of having this ridiculous EB-5 program, we’ll end it EB -5 plan.
