The United States will launch a “Gold Card” program, offering wealthy foreigners the right to live and work in the country for a USD 5 million fee, President Donald Trump announced on Tuesday. The program will replace the EB-5 immigrant investor visa.

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US President Trump announced the “Gold Card” program for wealthy foreign investors.

The program grants residency and a path to citizenship for a USD 5 million fee.

It will replace the existing EB-5 immigrant investor visa.

Commerce Secretary Howard Lutnick said applicants would undergo vetting.

Trump suggested that millions of Gold Cards could be sold.

Sales will begin in about two weeks.

Trump stated that Russian oligarchs might be eligible.

During the announcement, Trump admired a map of the “Gulf of America.”

He criticized the Associated Press, calling it “radical left.”

White House Press Secretary Karoline Leavitt said questioning the US President is a privilege, not a right.