President Donald Trump said Tuesday that he plans to offer a gold card visa with a path to citizenship for USD5 million, replacing a 35-year-old visa for investors. "They'll be wealthy and they'll be successful, and they'll be spending a lot of money and paying a lot of taxes and employing a lot of people, and we think it's going to be extremely successful, Trump said in the Oval Office. Commerce Secretary Howard Lutnick said the Trump Gold Card would replace EB-5 visas in two weeks. EB-5s were created by Congress in 1990 to generate foreign investment and are available to people who spend about USD1 million on a company that employs at least 10 people. Lutnick said the gold card actually a green card, or permanent legal residency would raise the price of admission for investors and do away with fraud and nonsense that he said characterize the EB-5 program. Like other green cards, it would include a path to citizenship. About 8,000 people obtained investor visas in the 12-month .