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United States President Donald Trump has proposed a $5 million “gold card” to wealthy foreign investors seeking American citizenship.
Speaking at the Oval Office on Tuesday, Trump said the sale of the cards will begin in about two weeks, and suggested millions of such cards could be sold.
“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 and that’s going to give you green card privileges, plus it’s going to be a route to citizenship,” he said.
“And wealthy people will be coming into our country by buying this card.
“They’ll be wealthy, and they’ll be successful, and they’ll be spending a lot of money and paying a lot of taxes.”
The selective path to citizenship comes as Trump ramps up his drive to sweep the US clean of illegal immigrants.
Howard Lutnick, commerce secretary, who stood beside Trump, said the card will replace the government’s EB-5 immigrant investor visa programme.
The current EB-5 immigrant investor visa gives permanent residency to foreigners who invest at least $1.05 million in a new business that creates jobs — or $800,000 if the business is in a rural or high unemployment area.
Lutnick said the EB-5 programme was “full of nonsense, make-believe and fraud”.
The commerce secretary said applicants for the gold card would be vetted “to make sure they’re wonderful world-class global citizens”.
The US would sell the gold card to wealthy foreigners, giving them the right to live and work in the US, and offering a pathway to citizenship.
Asked whether he would consider selling the cards to Russian oligarchs, Trump responded in the affirmative.
“Yeah, possibly. I know some Russian oligarchs that are very nice people,” he said.
If passed, the US gold card would be one of the most expensive routes to citizenship.
Citizenship by investment programmes globally often range from $250,000 to €750,000.
