Donald Trump has unveiled a new immigration proposal introducing a “gold card” visa program, offering US residency and a pathway to citizenship for investors willing to pay $5 million.

Trump stated that the program, set to launch within two weeks, is intended to replace the current EB-5 investor visa system. While the specifics of the plan remain unclear, he suggested that it would not require congressional approval.

“We’re going to be selling a gold card,” Trump announced at the Oval Office while signing executive orders alongside Commerce Secretary Howard Lutnick. “We’re setting the price at around $5 million, granting green card privileges.”

Commerce Secretary Lutnick confirmed that applicants would pay the fee directly to the U.S. government. “Instead of the outdated EB-5 program, we’re introducing the Trump gold card,” he explained, adding that participants would still undergo thorough vetting to ensure they are “top-tier, global citizens.” The revenue from the program, he noted, would contribute to reducing the federal deficit.

This initiative comes as Trump continues implementing stricter immigration policies during his second term. He has pledged the largest deportation effort in U.S. history and has reinforced security at the southern border. Additionally, he has warned Canada and Mexico of potential tariffs unless they take stronger measures to curb the influx of fentanyl, illegal drugs, and undocumented migrants into the United States.