WASHINGTON – President Donald Trump on Wednesday rolled out a high-priced visa program, dubbed the “Trump Gold Card,” aimed at giving non-U.S. citizens a faster route to live and work in the United States.

The initiative, detailed on the website trumpcard.gov, requires applicants to first pay a $15,000 processing fee to the Department of Homeland Security. Following a background check, applicants must then make a $1 million “contribution,” also referred to on the site as a “gift,” to secure the visa. The program is being promoted as a more exclusive alternative to a traditional Green Card.

“Basically it’s a Green Card, but much better. Much more powerful, a much stronger path,” Trump said at the White House. “A path is a big deal. Have to be great people,” according to Reuters.

Commerce Secretary Howard Lutnick said about 10,000 people pre-registered for the Gold Card and predicted that thousands more could participate, generating billions of dollars for the U.S. Treasury. Lutnick described the program as attracting people who would “benefit the economy,” contrasting them with what he called “average” Green Card holders, who he claimed earned less than typical Americans and were more likely to rely on public assistance, though he offered no supporting data.

The administration’s Gold Card initiative appears intended as a complement to Trump’s broader immigration policies, which have included deporting hundreds of thousands of undocumented residents and implementing measures to restrict legal immigration.

Lutnick also said a corporate version of the Gold Card is available, allowing companies to secure expedited visas for employees with a $2 million contribution per person.