On Tuesday, U.S. President Donald Trump announced plans to introduce a new “gold card” residency permit, available for purchase at $5 million each. He suggested that Russian oligarchs could be among those eligible.
Trump stated that this high-priced alternative to the traditional green card would attract job creators and help reduce the national deficit.
“We’re introducing a gold card. You have a green card—this is a gold card. We’re setting the price at about $5 million,” Trump told reporters in the Oval Office.
President Donald Trump, who has prioritized the deportation of millions of undocumented migrants in his second term, announced that the new “gold card” would offer a pathway to coveted U.S. citizenship.
“A lot of people will want to be in this country, and they’ll be able to work, create jobs, and build businesses,” Trump said. “These will be people with money.”
He added that sales of the cards would begin in approximately two weeks.
Trump stated that the U.S. could potentially sell up to a million of these gold cards, assuring that all legal aspects had been carefully considered.
The former real estate mogul emphasized that applicants would undergo thorough vetting. When asked whether wealthy Russians could apply, he acknowledged the possibility.
“Possibly. I know some Russian oligarchs who are very nice people,” Trump said. “They’re not as wealthy as they used to be, but I think they can afford $5 million.”
Many Russian oligarchs have faced Western sanctions since Moscow’s invasion of Ukraine three years ago.
Trump has sparked concern in European capitals by unexpectedly opening negotiations with Russia to end the war, raising fears that he may compromise Ukraine’s position.
Speaking to reporters, the U.S. president said that while lifting sanctions on Russia could be considered “at some point,” it was not currently under discussion.
Standing beside Trump in the Oval Office, U.S. Commerce Secretary Howard Lutnick emphasized that revenue from the gold card sales could help reduce the national deficit.
Trump, known for branding hotels and casinos throughout his business career, even floated the idea of naming the new residency permit after himself.
“Somebody asked, ‘Can we call it the Trump Gold Card?’ I said, ‘If it helps, use the name Trump,’” he said.
