US President Donald Trump announced a new initiative on Tuesday to introduce exclusive “gold card” residency permits, each priced at $5 million. He indicated that Russian oligarchs could be among the potential applicants.
Trump described the program as an upscale alternative to the traditional green card, aimed at attracting wealthy individuals who could contribute to job creation and help reduce the U.S. national deficit.
“We’re launching a gold card,” Trump stated from the Oval Office. “You’ve heard of a green card—this is a gold card. It’s going to cost around $5 million.”
As part of his second-term immigration policy, which prioritizes the removal of millions of undocumented migrants, Trump positioned the gold card as a pathway to U.S. citizenship for affluent investors.
“A lot of people want to come here, and they’ll be able to work, create jobs, and establish businesses,” he said. “This is for people with money.”
Trump revealed that sales of the gold cards would begin within two weeks and projected significant demand.
“We could sell a million of these,” he claimed. “We’ve made sure everything is legally sound.”
The former real estate mogul assured that all applicants would undergo strict vetting.
When asked whether wealthy Russians would be eligible, Trump acknowledged the possibility.
“Possibly. I know some Russian oligarchs who are very nice people,” he said. “They’re not as rich 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. Meanwhile, Trump’s recent efforts to negotiate directly with Russia over the war have unsettled European allies, who worry he may compromise Ukraine’s interests.
Regarding potential sanctions relief for Russia, Trump said, “It could happen at some point,” but emphasized that it was not currently under discussion.
Standing alongside Trump, U.S. Commerce Secretary Howard Lutnick supported the gold card initiative, saying, “We can use that money to reduce our deficit.”
Trump, known for branding hotels and casinos throughout his business career, even floated the idea of incorporating his name into the program.
“Someone asked, ‘Can we call it the Trump gold card?’ I said, ‘If it helps, use the name Trump,'” he remarked.
