US President Donald Trump said on Tuesday he wanted to begin selling gold cards for US$5 million to foreigners who wanted to move to the US and create jobs.
“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 US$5 million,” Trump told reporters in the Oval Office.
The US president said the card would give holders “green card privileges”, in reference to the permits currently issued to US permanent residents.
Trump said the new immigration programme, which he said was legal, could start in about two weeks. He added that it was possible that Russian oligarchs could qualify for the gold cards.
US Commerce Secretary Howard Lutnick indicated the move could replace the existing EB-5 programme, which allows immigrant investors to acquire green cards by investing a certain amount toward a business in the US.
He belittled the EB-5 program as “full of nonsense”.