BUFFALO, N.Y. -- Some of the wealthiest people in the world may soon have a new way to become American citizens if they pay up.

Last week, President Donald Trump announced his "gold card" Visa plan.

"We're going to be putting a price on that card of about $5 million and that's going to give you green card privileges plus," Trump said.

Critics were quickly skeptical of the pay-to-play system but Buffalo attorney Zabrina Reich, the leader of Phillips Lytle LLP's immigration team, said it's not an entirely new idea. Right now, under the federal government's EB-5 program, foreign nationals can pay either $800,000 or $1.1 million to get similar preferential status.

"The idea behind EB-5 is if you're going to make a certain amount of investment in the U.S. that is going to create a minimum of 10 U.S. jobs, we are going to give you a green card," she said.

Unlike EB-5. the "gold card" would not have any job creation stipulations but it would also not offer an opportunity to recoup any of the investment. Reich said an applicant pool of the ultra-wealthy may be limited although if the government required those individuals only to pay tax on income generated in the United States it could increase interest.

"We want to make sure that we always have the ability to bring the best and the brightest here and I think this could be another mechanism to do so," she said.

The attorney said there are other questions remaining including the vetting requirements and whether the "gold card" would potentially replace or modify EB-5.

"Like several things that we've seen from the administration so far, we get the idea well before the implementation is really worked out," Reich said.

Trump suggested the U.S. would begin selling the cards as soon as next week.

"Wealthy people are going to be coming into our country by buying this card. They'll be wealthy and they'll be successful," he said.

However, Reich said most significant immigration policy changes require an act of Congress.