US citizenship US citizenship
Donald Trump has announced a new immigration scheme for wealthy foreigners. Paul Weaver/Unsplash

KEY POINTS

  • Trump said the Gold Card will feature Green Card privileges with a direct pathway to US citizenship
  • Commerce Secretary Howard Lutnick said applicants will go through standard background checks
  • Trump reiterated that applicants should be able to prove they can 'create jobs' for the US public
  • There is growing pushback on the scheme amid concerns there should be 'non-economic' qualifications

President Donald Trump has announced a new immigration scheme called the "Gold Card" wherein interested immigrants will be given a direct pathway to becoming American citizens by paying $5 million.

The new program will replace the existing EB-5 Immigrant Investor Visa Program, which grants U.S. Green Cards to foreigners who commit to investing a lot of money in helping grow the U.S. economy.

Trump Introduces 'Gold Card' Immigration Pathway

"We're gonna be selling a 'Gold Card,'" Trump said Tuesday of the new immigration program. "We're gonna be putting a price on that card of about $5 million dollars and that's gonna give you green card privileges plus it's gonna be a route to citizenship," he added.

He expects the new program to be rolled out sometime in the next two weeks. He also projected that the United States may be able to "sell" up to 10 million Gold Cards, or "maybe more than that."

How to 'Buy' American Citizenship Through the Trump Gold Card

Trump didn't go at length in explaining how immigrants can apply to purchase a Gold Card, on the other hand, Commerce Secretary Howard Lutnick, who was present at the media briefing, gave away a few key details about the program.

Prospective applicants will be required to provide:

  • Proof of around $5 million in available funds;
  • The necessary application documents to be submitted to the U.S. Citizenship and Immigration Services (USCIS);
  • Background checks, including but not limited to factors affecting national security and financial vetting to make sure applicants are "wonderful, world-class global citizens that can come to America";
  • Proof that an applicant can "create jobs" for U.S. citizens;
  • Proof of being a "high-level" individual.

An example of an entity qualified for the Gold Card that Trump specifically mentioned is big tech giant Apple. He also noted that he sees "people that are number one in their class at top schools" as potential qualifying applicants.

Concerns Arise Over Gold Card Scheme

While Trump is very confident his Gold Card pathway will work out well, there is already pushback among X users who don't think it's a good idea.

"Trump's 'Gold Card' lets billionaires buy U.S. residency for $5M, while high-skilled Indians wait decades for Green Cards. Money talks, merit walks," one user said.

"Selling residency to the highest bidder? This is straight-up oligarchy disguised as 'economic growth,'" said another user.

For one user, the $5 million requirement is too much. "There has to be other non-economic qualifications that just $5 million," the user argued.

Journalist Cristóbal Vásquez said Trump's new immigration pathway only indicates that the president's issue wasn't on migrants, "but poor migrants." He posted a clip of the press briefing wherein Trump confirmed to a reporter that Russian oligarchs will be allowed to apply for the program.

More details about the new visa scheme are expected to be released in the coming weeks.

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