Trump unveils $5m ‘gold card’ visa to attract wealthy immigrants

Russian oligarchs might be eligible for the $5 million new "gold card" residency cards that US President Donald Trump announced plans to sell on Tuesday.

Trump claimed that sales of the new visa, which is a more expensive version of the green card, will help create jobs and lower the national debt of the United States.

"A gold card will be up for sale. This is a gold card; yours is a green card. In the Oval Office, Trump said reporters, "We're going to be putting a price on that card of about $5 million."


Trump unveils $5m ‘gold card’ visa to attract wealthy immigrants

The new card would be a path to highly valued US citizenship, according to the Republican president, who has prioritized the deportation of millions of undocumented migrants throughout his second term.

Trump stated, "Many people will want to be in this country, and they will be able to work, provide jobs, and build companies." "Those with money will be there."

Trump also stated that sales of the cards would begin in around two weeks.

Perhaps a million of these cards will be sold. From a legal perspective, we have everything figured out," Trump continued.

All applicants for the new gold cards would undergo a rigorous screening process, according to the billionaire former real estate tycoon.

When asked if affluent Russians could apply as well, Trump responded that it was possible.

"Perhaps. Some of the Russian oligarchs I know are really kind. "It's feasible," Trump declared. "They aren't as rich as they once were. They can, I believe. They can probably afford $5 million.

Since Moscow's invasion of Ukraine three years ago, several Russian oligarchs have been subject to western sanctions.

Trump's abrupt initiation of war-ending talks with Russia has shocked European capitals, raising concerns that he would be willing to shortchange Ukraine.

Although it is not yet on the table, the US president told reporters that relaxing sanctions on Russia was feasible "at some point."

Regarding the gold cards, US Commerce Secretary Howard Lutnick stated that "we can use that money to reduce our deficit" when he was standing next to Trump in the Oval Office.

Trump, who has a lengthy business history and has branded a number of hotels and casinos, even proposed that the new cards be named after him.

"Can we call it the Trump gold card?" someone asked. He responded, "Use the name Trump if it helps."

AFP