Commerce secretary says millions could be interested in the exclusive residency offer
Washington: US President Donald Trump‘s $5 million Gold Card visas have already gained traction, with 1,000 cards sold in a single day, according to Commerce Secretary Howard Lutnick. Speaking on a podcast, he said the administration is focusing on removing undocumented residents while offering an exclusive pathway for wealthy individuals to secure US residency.
“There are 37 million people in the world who are capable of buying the card… The president thinks we can sell a million,” Lutnick said on the All-In Podcast.
He revealed that Trump came up with the idea of the Gold Card during a meeting with investor John Paulson and later brought him into the discussion to determine its feasibility.
A visa for the wealthy
The Gold Card has made headlines due to its high cost. Trump has positioned it as a way to attract wealthy individuals who can contribute to the economy and support his “Make America Great Again” vision.
Lutnick defended the initiative, saying that if he were not already an American, he would have bought multiple Gold Cards for himself and his family. He suggested that this new visa could eventually replace the traditional EB-5 Green Card, which also grants permanent residency to investors.
What are US Gold Cards?
Donald Trump introduced a new pathway to US citizenship through an exclusive $5 million Gold Card. Announcing the initiative from the Oval Office last month, Trump described the Gold Card as a “sophisticated” version of the traditional Green Card, offering permanent residency along with a route to citizenship.
“We’re going to be putting a price on that card of about $5 million, and that’s going to give you [permanent resident] Green Card privileges, plus it’s going to be a route to citizenship,” he said.
At a cost of $5 million, the initiative is seen as part of Trump’s broader effort to attract wealthy investors to the United States.