The President of the United States, Donald Trump, has announced a new residency permit known as the “gold card,” which will be sold for $5 million per applicant.
The initiative, he said, aims to attract wealthy investors and job creators while helping to reduce the US national deficit.
Speaking to journalists at the Oval Office on Tuesday, Trump explained that the gold card is an upgraded version of the traditional green card and could provide a pathway to US citizenship.
“A lot of people want to live in the US. They’ll be able to work, create jobs, and build companies,” Trump stated. “It’ll be for people with money.”
He revealed that sales of the residency cards would begin in about two weeks, with plans to issue up to a million of them. He also assured that applicants would undergo thorough screening.
When asked if Russian oligarchs could apply, Trump responded, “Possibly. I know some Russian oligarchs who are nice people. They’re not as wealthy as before, but I think they can afford $5 million.”
Since Russia’s invasion of Ukraine three years ago, several Russian billionaires have been hit by Western sanctions. Trump’s recent decision to open negotiations with Moscow has sparked concerns in Europe, with fears that he might make compromises at Ukraine’s expense.
While acknowledging that lifting sanctions on Russia could be considered in the future, Trump clarified that it was not currently under discussion.
US Commerce Secretary Howard Lutnick, who was present during the announcement, backed the initiative, saying the revenue from the gold card sales could help reduce the country’s deficit.
In a lighthearted moment, Trump suggested that the permit could even carry his name. “Somebody asked, ‘Can we call it the Trump gold card?’ I said, ‘If it helps, use the name Trump,’” he added.
