President Donald Trump said Tuesday a new immigration program in the coming weeks would provide a path to citizenship for wealthy immigrants looking to work or start businesses in the U.S.

Trump said the program would bring in “high-level people” who would create jobs. Companies could pay to have workers brought into the country. He estimated usage of the program could be in the millions.

“We’re going to be selling a gold card. You have a green card, this is a gold card. We’re going to be putting a price on that card of about $5 million,” Trump said at a press conference in the Oval Office. “That’s going to give you green card privileges plus going to be a route to citizenship and wealthy people will be coming into our country.”

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Gold Card Replaces EB-5 Program

Secretary of Commerce Howard Lutnick said the gold card would replace the EB-5 program. The EB-5 program was a way to for immigrant investors to come to the U.S. and start a business. It required businesses employ at least 10 people full-time.

It also requires minimum investment amounts starting at $900,000.

Lutnick criticized the program for loopholes. Spouses and children under 21 also get green cards under the program.

“It was a way to get a green card that was low priced,” Lutnick said alongside Trump.

When asked if a Russian oligarch would be eligible for the program, Trump said he knew some oligarchs who were “very nice people.”

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Trump said that profits from the program could pay down the deficit.

“You’re getting big taxpayers, big job producers, and we’ll be able to sell maybe 1 million of these cards, maybe more than that,” Trump said.

WOW! Pres. Trump announces a new ‘Gold Card.’

“You have a ‘Green Card.’ This is a ‘Gold Card.'”

“They’ll be able to pay $5M to the U.S. government. They’ll have to go through vetting…& they can invest in America & we can use that money to reduce our deficit.” pic.twitter.com/P0g8BKBhK8

— Breaking911 (@Breaking911) February 25, 2025

Trump Confident on Legality of Program

The U.S. Citizenship and Immigration Services administers permanent resident cards — “green cards” — and the EB-5 program. Lutnick said the White House would administer the program. Trump told reporters that they reviewed the legality of the program.

“We have it all worked out from the legal standpoint, it’s totally legal to do,” Trump said.