President Donald Trump's proposed $5 million "gold card" for U.S. residency would be one the most expensive in the world, according to experts.

Commerce Secretary Howard Lutnick said on Wednesday that 250,000 are waiting to get one of President Trump’s so-called “gold cards,” which the president pitched as a replacement for the EB5

Trump said he will replace the "EB-5" immigrant investor visa program, which allows foreign investors of large sums of money that create or preserve U.S. jobs to become permanent residents, with a so-called "gold card.