Trump unveils $5m ‘Gold Card’ for US residency
On Thursday, US President Donald Trump revealed a new, high-priced residency visa known as the "Trump Card," which will provide lawful US residency to overseas buyers for $5 million each.The announcement was made on Air Force One, where Trump proudly presented a gold prototype of his face with the label "The Trump Card."
"I'm the first buyer," Trump informed reporters. "Pretty exciting, huh?" He further mentioned that the visa might be available "in less than two weeks."
The new visa is being marketed as a high-end version of the existing green card, aimed at luring rich individuals and investors. Trump says that the effort will strengthen the US economy by recruiting job creators and creating a new revenue stream to help lower the national debt.
The action represents a stark contrast to Trump's hardline immigration policies. Throughout his administration and campaign for a second term, he advocated for the mass deportation of unauthorised immigrants. However, for those who can afford it, the "Trump Card" provides a perfect opportunity to obtain US citizenship.
In February, Trump stated that the government wanted to sell "maybe a million" cards and did not rule out eligibility for Russian oligarchs or other foreign elites.
Critics have expressed worry that the plan establishes a road to citizenship based on money, while millions of immigrants face years-long legal processes. Nonetheless, Trump's administration claims the program will infuse billions into the economy and boost the country's worldwide competitiveness.
The statement comes after Trump made a number of headline-grabbing measures this week, including a significant hike in tariffs on Chinese and European imports and assertions that a TikTok ownership transaction is "very close."
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