Trump unveils 'gold card' residency program for wealthy foreign investors

File Source: YouTube

US President Donald Trump has introduced a new “gold card” residency program designed for wealthy foreigners, offering them the chance to live and work in the United States, with a potential path to citizenship, in exchange for a $5 million investment. The program, which replaces the EB-5 immigrant investor visa, was revealed during a media briefing in the Oval Office.

Commerce Secretary Howard Lutnick explained that applicants would be thoroughly vetted to ensure they are “wonderful world-class global citizens.” Trump emphasized the program’s potential to generate significant revenue, stating that sales would begin in about two weeks. He also assured that the initiative was legally sound, saying, “From the legal standpoint, it’s totally legal to do.”

When asked whether Russian oligarchs would be eligible to apply, Trump confirmed they would be, citing some as “very nice people.” His remarks came amidst a broader Oval Office discussion, where he also signed an executive action investigating the copper industry and addressed other issues.

During the event, Trump took a moment to reflect on a map showing the newly renamed Gulf of America, sharing an emotional response. “I’m just admiring it as I look at it. I’m getting teary-eyed — but I don’t want you to say, ‘Trump broke down and started crying,'” he quipped.

Trump also took aim at the Associated Press, labeling it “radical left” and accusing it of unfair coverage. “I think they’re Radical Left. I think they’re third-rate reporters… They don’t treat us fairly,” he said. White House Press Secretary Karoline Levitt defended the administration, asserting that questioning the president was a privilege, not a legal right.

In an unexpected moment, Trump handed out pamphlets titled “Trump was right about everything,” proudly showing one to the media. “Look. You see that? Trump was right about everything… Would anybody like one?” he asked, as he distributed the materials.