Trump’s Gold Card: $5M for Citizenship?

Aakhir Tak – In Shorts

Donald Trump introduces the ‘Gold Card’ scheme, offering citizenship to the wealthy.
Direct pathway to US citizenship for $5 million.
Gold Card will replace the existing EB-5 visa program.
Idea to sell 10 million Gold Cards to reduce the national deficit.
Russian oligarchs also likely to be eligible to purchase a Gold Card.

Aakhir Tak – In Depth

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US President Donald Trump has announced a new immigration initiative – the ‘Gold Card’. This allows wealthy foreign investors to purchase a direct pathway to American citizenship for USD 5 million. Announced from the Oval Office on Tuesday, the proposal is being pitched as a “premium version” of the Green Card. It offers long-term residency and a route to naturalization. Trump’s Gold Card program may also replace the EB-5 visa.

Gold Card Scheme

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“We are going to be selling a Gold Card,” Trump declared. “We are going to be putting a price on that card of about $5 million.” According to the President, this new program aims to attract high-net-worth individuals to the United States. It will also generate significant revenue for the government. Donald Trump has discussed such schemes before.

Alternative to EB-5 Visa Program

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The Gold Card would replace the existing EB-5 Immigrant Investor Visa Program. This program currently allows foreign investors to obtain Green Cards. They need to invest at least $800,000 in projects located in Targeted Employment Areas (TEAs) or USD 1.8 million elsewhere. They must also create at least ten US jobs. Trump dismissed the EB-5 system as inefficient and outdated.

Commerce Secretary’s Support

Commerce Secretary Howard Lutnick, who was present during the announcement, backed the President’s decision. He stated, “Rather than having this sort of ridiculous EB-5 program, we’re going to end it. We’re going to replace it with the Trump Gold Card.” Unlike the EB-5, which requires investment in job-creating ventures, the Gold Card program focuses primarily on direct payments to the US government.

Idea to Reduce National Deficit

Trump also floated the idea of selling up to 10 million Gold Cards to help reduce the national deficit. “It could be great, maybe it would be fantastic,” he said. However, he did not clarify whether Gold Card holders would be required to create jobs. This is a key requirement of the EB-5 program. Trump also skirted the question of whether Russian oligarchs would be eligible to purchase a Gold Card.

Further Information

Asked whether Russian oligarchs would be eligible to purchase a Gold Card, Trump responded, “Yeah, possibly. Hey, I know some Russian oligarchs who are very nice people.” While the full details of the program are yet to be disclosed, Trump promised more information within two weeks. He explained, “It’s somewhat like a Green Card, but at a higher level of sophistication.”

Pathway for Talented Individuals

“It’s a road to citizenship for people of wealth or people of great talent. Companies will pay for people to get in and have long, long-term status in the country.” More accurate information will only emerge once this scheme has started.

Aakhir Tak – Key Takeaways to Remember