Trump Proposes $5M ‘Gold Card’ Residency Permit for Wealthy Investors

Trump Proposes $5M ‘Gold Card’ Residency Permit for Wealthy Investors

By Fly Cable News

Former U.S. President Donald Trump announced plans on Tuesday to introduce a new “gold card” residency permit, offering a fast-track route to U.S. citizenship for wealthy individuals willing to pay $5 million.

Speaking from the Oval Office, Trump explained that the initiative aims to attract job creators and help reduce the national deficit. “We’re going to be selling a gold card. You have a green card, this is a gold card. We’re putting a price of about $5 million on it,” he told reporters.

Trump, who has prioritized mass deportations of undocumented migrants in his second term, stated that the new permit would be a means for affluent individuals to live and work in the U.S. “A lot of people want to be in this country, and they’ll be able to work, provide jobs, and build companies,” he added.

Sales of the residency permits are set to begin within two weeks, with Trump estimating that up to one million could be issued. “We have it all worked out legally,” he assured.

When asked whether Russian oligarchs would be eligible, Trump did not rule out the possibility. “Possibly. I know some Russian oligarchs who are very nice people. They’re not as wealthy as they used to be, but I think they can afford $5 million,” he remarked.

Since Russia’s invasion of Ukraine three years ago, many oligarchs have been subject to Western sanctions. Meanwhile, Trump has stirred controversy in Europe by initiating talks with Russia to end the war, raising concerns about his approach to Ukraine.

Although lifting sanctions on Russia is not currently under consideration, Trump suggested it could happen “at some point.”

U.S. Commerce Secretary Howard Lutnick, who stood beside Trump during the announcement, said revenue from the “gold card” sales could be used to reduce the national deficit.

Trump, known for branding luxury properties, even entertained the idea of naming the program after himself. “Someone asked, ‘Can we call it the Trump Gold Card?’ I said, ‘If it helps, use the name Trump,’” he joked.