President Donald Trump announced on Friday the introduction of the “Trump Gold Card,” offering both individuals and businesses the opportunity for expedited U.S. residency, which can be purchased starting at $1 million.

The card is designed with a gold background and includes a portrait of President Trump, an image of the Statue of Liberty, and the American flag, with “Trump Gold Card” inscribed on the left side.

In a post on Truth Social, Trump expressed, “For too long, our country has faced an influx of illegal immigrants, and our immigration system has been dysfunctional. It’s high time American citizens and taxpayers benefit from our LEGAL Immigration System.”

The website notes that the Trump Gold Card status acts as a visa, and may be revoked due to national security and other risks.

The government also intends to launch the Trump Platinum Card, which permits holders to stay in the U.S. for up to 270 days annually without being taxed on income earned outside the country, effectively replacing the need for travel visas.

Though the platinum card is not yet available, the official website advises potential applicants to sign up for the waitlist promptly, as admissions will be handled on a first-come, first-served basis.