Trump unveils new 'golden green card': What it offers for $5 million

The new card depicts Trump himself near the Statue of Liberty. Because of this design, it has already been dubbed the “Trump card.” The cost of the immigration card is $5 million.

The program is based on an updated version of the EB-5 visa. It allows foreigners who invest at least $1 million in the United States to obtain a green card. The green card does not bind a person to a specific employer, and also gives the freedom to choose a place of employment.

Earlier, US Secretary of Commerce Howard Luthnick said that the system would raise up to $1 trillion if all 200,000 applications were paid for under the new rules. Currently, the queue for participation in the program is 250,000 people.

Trump previously said that Russian businessmen could also be eligible for a “golden green card.” Answering a journalist's question whether Russian oligarchs would be able to apply for gold cards, Trump added that perhaps these people would be eligible.

What is a green card?

A US green card is an official document that grants a foreigner the right to permanently reside and work in the United States. A green card holder has permanent resident status and can legally work, study, start a business, and enjoy some social rights, such as health insurance. A green card is also a necessary step on the path to US citizenship, as after several years of residence, its holder can apply for naturalization.

There are several ways to obtain a green card: through family reunification, employment, investment, humanitarian programs, or by winning the annual Diversity Visa program (DV Lottery). There are also special programs for refugees, victims of violence, and other vulnerable categories. The green card is valid for 10 years and needs to be renewed, although permanent resident status is maintained as long as the conditions of residence or legislation are not violated.