US President Donald Trump has announced plans to launch a new “gold card” visa program, which will offer residency permits to wealthy immigrants for a fee of $5 million each.
The program, aimed at attracting high-net-worth individuals who can invest in US businesses and create jobs, was unveiled by Trump during a press conference at the Oval Office.
“We’re going to be selling a gold card. 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,” Trump told reporters.
The gold card program is designed to provide a route to US citizenship for wealthy immigrants who can invest in US businesses and create jobs. Trump believes the program will attract “people with money” who can help reduce the US national deficit.
According to Trump, sales of the gold cards will start in about two weeks, and he expects to sell around 1 million of them. The program will be open to wealthy foreigners, including possibly Russian oligarchs, who can afford the $5 million price tag.
The US President also suggested that the gold cards could be named after him, saying, “Somebody said, ‘Can we call it the Trump gold card?’ I said, ‘If it helps, use the name Trump.'”
The gold card program has been met with mixed reactions, with some experts questioning its potential effectiveness and the impact of higher taxes on wealthy investors.
