More than 15,000 foreigners have eagerly signed up for the Trump ‘gold card’ program within a day of its launch, which promises residency and a path to U.S. citizenship in exchange for a hefty $5 million payment to the U.S. government. President Donald Trump hails this initiative as a “once in a lifetime opportunity,” emphasizing its potential to generate $75 billion for the country. However, it’s worth noting that the application process at trumpcard.gov currently only requires basic information and lacks stringent financial vetting.

This move by Trump coincides with his administration’s strict immigration policies, including a controversial nationwide crackdown and efforts to pass a significant tax and policy bill amidst concerns about increasing budget deficits. The gold card program’s launch follows closely on the heels of a travel ban affecting nationals from 12 countries and partial travel suspensions for individuals from additional nations.

The application process for the gold card involves basic details such as name, region, and email address, as well as a choice between applying as an individual or a business entity. Notably, Trump has clarified that congressional approval is not necessary for this program since it offers a path to citizenship rather than direct citizenship. Specific requirements for obtaining citizenship through this route remain unclear, with further details expected to be disclosed by White House officials.

This initiative aims to replace the existing EB-5 immigrant investor program, which allows foreign investors to obtain a green card by investing a substantial amount in the U.S. economy to create or preserve jobs. Trump’s gold card program represents a significant departure from traditional immigration pathways and underscores his administration’s focus on attracting affluent individuals to contribute to the American economy.