Trump to introduce 'gold card' visa for wealthy investors with $5 million price tag: 'Route to citizenship'

President Donald Trump suggested the introduction of a "gold card" visa. (Andrew Harnik/Getty Images / Getty Images)

"It's going to give you green card privileges, plus it's going to be a route to (American) citizenship, and wealthy people would be coming into our country by buying this card," the president continued.

When a reporter asked if it was possible for a Russian oligarch to obtain the card, Trump answered in the affirmative.

"Yeah, possibly," the U.S. leader replied. "Hey, I know some Russian oligarchs that are very nice people."

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Trump's recent suggestion would replace the EB-5 program with a "gold card" visa to the tune of $5 million. (Jabin Botsford/The Washington Post / Getty Images)

At least one other member of the Trump administration has signaled support for the measure. Speaking to reporters on Tuesday, Commerce Secretary Howard Lutnick accused the EB-5 program of being "full of nonsense, make-believe and fraud."

"It was a way to get a green card that was low price," Lutnick said. "So the president said, rather than having this sort of ridiculous EB-5 program, we're going to end the EB-5 program. We're going to replace it with the Trump gold card."

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When a reporter asked if it was possible for a Russian oligarch to obtain the card, Trump answered in the affirmative. (Anna Moneymaker / Getty Images)

More information about the "gold card" is expected to come in the next few weeks. Other countries have similar visas: the United Kingdom offers a Tier 1 (Investor) visa, which allows a path to citizenship for foreign nationals willing to invest five to 10 million pounds.

Reuters contributed to this report.