Trump's 'gold card' program goes live, offering US visas starting at $1 million per person

President Donald Trump announced Wednesday that his long-promised " gold card " was officially going on sale, offering legal status and an eventual pathway to U.S. citizenship for individuals paying $1 million and corporations ponying up twice that per foreign-born employee.

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A website accepting applications went live as Trump revealed the start of the program while surrounded by business leaders in the White House's Roosevelt Room. It is meant to replace EB-5 visas, which Congress created in 1990 to generate foreign investment and had been available to people who spend about $1 million on a company that employs at least 10 people.

Trump sees the new version as a way for the U.S. to attract and retain top talent, all while generating revenue for federal coffers. He's been promoting the gold card program for months, and once suggested that each card would cost $5 million, though he more recently revised that to the $1 million and $2 million pricing scheme.

The president said all funds taken in as part of the program will "go to the U.S. government" and predicted that billions would flow into an account run by the Treasury Department "where we can do things positive for the country."