Trump unveils $5M Gold Card visa for wealthy investors

President Donald Trump has introduced the 'Gold Card,' a $5 million residency permit aimed at attracting wealthy investors and entrepreneurs to the U.S. Designed as an alternative to the traditional green card, it offers enhanced residency privileges and is expected to launch within two weeks. During a press event aboard Air Force One, Trump presented a prototype of the card, humorously claiming to be its first buyer. The initiative seeks to revamp the EB-5 visa program, which has faced criticism for its complexity, and aims to generate significant revenue that could help reduce the national deficit. While proponents hail the potential economic benefits, critics express concerns about possible corruption and the prioritization of wealth over merit in immigration policy. Commerce Secretary Howard Lutnick indicated substantial demand, citing over 1,000 cards sold on the first day, with potential buyers including affluent foreign nationals, though he did not exclude Russian oligarchs from eligibility.