Trump Wants to Give "High-Level People" "Gold Cards" as an Alternative to Green Cards

In a preview of his ideas for a new visa program he was dubbed the "gold card," President Trump said Tuesday that it would be "somewhat like a green card, but at a higher level of sophistication."

Mr. Trump said that the gaudy new program would open a new "route to citizenship" for "very high-level people." He estimated that it would cost roughly $5 million.

As he signed his most recent series of executive orders, including one about import taxes on copper, Mr. Trump told reporters about his gold card idea in the Oval Office. Some of the details were filled in by Howard Lutnick, his secretary of commerce.

Mr. Lutnick clarified that "the Trump gold card," as he dubbed it, would take the place of the EB-5 visa program, which also offers wealthy foreign investors a route to citizenship but has been a conduit for fraud. Although there were few specifics at this early stage, Mr. Lutnick hinted that the government would be more selective about who would be eligible for a gold card.

"We will ensure that they are excellent, world-class citizens," Mr. Lutnick stated.

"It will be people with money and people who create jobs," Mr. Trump continued.

Mr. Trump was pleased when asked if a Russian magnate may be qualified for a gold card. "Yes," he said. "Perhaps."

"Hey, I know some Russian oligarchs that are good people," he continued. It is feasible.

As Mr. Trump went on, "They're not as wealthy as they used to be," Mr. Lutnick started to laugh. The president said, "I think they can afford five million dollars," as he began to laugh himself.

Given that many businesses would pay the $5 million charge to hire qualified personnel, he projected that the government would profit from the gold card scheme.

Mr. Trump stated, "We may be able to sell a million of these cards or perhaps more." "The numbers add up to a respectable amount."