Trump Unveils Gold, Platinum Visas to Cost Up to $5 Million (2)

President Donald Trump announced a new visa program for the world’s wealthy, a much-anticipated effort to encourage them to immigrate to the US by offering residency permits for a hefty price tag.

“They’re going to spend a lot of money to come in,” Trump told reporters Friday in the Oval Office as he signed the order to create the visa program. “It’s going to raise billions of dollars, billions and billions of dollars, which is going to go to reduce taxes, pay off debt and for other good things.”

US President Donald Trump speaks to members of the media in the Oval Office of the White House.

Photographer: Aaron Schwartz/CNP/Bloomberg

Individuals can pay $1 million to receive US residency with ...