Donald Trump announced a new “$5M gold card” visa offering wealthy buyers permanent U.S. residency and a path to citizenship, replacing the EB-5 investor visa.

He claimed it would boost job creation and help pay off U.S. debt.

Commerce Secretary Howard Lutnick called it an improvement over the EB-5 program, though details on eligibility and limits remain unclear, the BBC has reported.

Written by B.C. Begley