Nearly 70,000 people have signed up for the new $5 million “Golden Trump Card” visa program, a residency scheme led by U.S. Commerce Secretary Howard Lutnick.

The visa offers legal U.S. residency in exchange for a large investment and features a gold card with Donald Trump’s face and signature.

The initiative, originally proposed by billionaire donor John Paulson, aims to raise funds to reduce national debt and attract global talent.

Lutnick hopes it will replace the existing EB-5 investor visa, the Financial Times has reported.

Details on eligibility, taxes, and vetting are still being finalized, and the White House has yet to approve the full plan.

Written by B.C. Begley