The proposal faces dubious legal prospects but could bring substantial wealth into the country, even if not on the scale the administration envisions.

From South Florida legal advisers to real estate agents seeking buyers of high-end homes and condos, President Donald Trump’s proposed $5 million gold card for foreigners seeking U.S.

The idea that wealthy foreigners can address a nation’s faltering economy is not new. Trump’s gold visas will themselves replace the current EB-5 immigrant investor visa, which offers permanent US residency in return for job-creating investments of at least US$1 million.

President Trump touted his new gold card—for wealthy foreigners who want U.S. resident status in exchange for $5 million. “It’s like a green card but better, more sophisticated,” he said. Trump played salesman-in-chief saying the new immigration program “goes on sale very,

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Commerce Secretary Howard Lutnick said Wednesday that 250,000 are waiting to get one of President Trump’s “gold cards,” which the president pitched as a replacement for the EB5

President Trump said the cards would have “a higher level of sophistication” than green cards and cost applicants about $5 million.

President Donald Trump was left exposed after a question by Fox News’ Maria Bartiromo pointed out a major flaw in his immigration policy. During the interview shown on Sunday Morning Futures, Trump was showering himself with praise for his proposals to change rules on the green card.

I’ve spent years pushing for immigration reforms that bring fairness and opportunity to the millions of talented, skilled individuals caught in the green card backlog—people who’ve played by the rules,

Trump recently made an announcement about a new investment-based Gold Card visa, which raises questions about the program's sustainability.