According to Donald Trump, he plans to replace the “EB-5” immigrant investor visa program—which permits foreign investors to become permanent residents by making sizable financial contributions that support or maintain US jobs—with a “gold card.”
Washington, DC:
Using so-called “gold cards” that can be purchased for $5 million, US President Donald Trump intends to make it simpler for wealthy foreigners to obtain US citizenship. According to the American president, one million of these “gold cards” would be sold, giving foreigners green card residency status and a route to US citizenship.
Mr. Trump asserts that the program has the potential to rapidly reduce the nation’s debt. He informed reporters that he would replace the “EB-5” immigrant investor visa program—which permits foreign investors to become permanent residents by investing huge sums of money in US jobs that are created or maintained—with a “gold card.”
Foreigners who pledge to invest in US companies are granted “green cards” under the EB-5 program.
“A gold card will be up for sale…We’re going to charge roughly $5 million for that card,” Mr. Trump declared.
“It’s going to give you green card privileges plus it’s going to be a route to (American) citizenship, and wealthy people would be coming into our country by buying this card,” he stated.
The president stated that in two weeks, further information regarding the plan would be released. In response to a journalist’s question about whether Russians would be qualified for the program, Putin stated that Russian oligarchs might be. Yes, perhaps. Hello. He remarked, “I know some really wonderful Russian oligarchs.
About EB-5 Immigrant Investor Program
U.S. Citizenship and Immigration Services administers the EB-5 Immigrant Investor Program, which Congress established in 1990 to “stimulate the U.S. economy through job creation and capital investment by foreign investors,” according to the USCIS website.
The EB-5 program was a low-cost method of obtaining a green card, but it was also full with fraud, folly, and fantasy. Therefore, the president declared that the EB-5 program would be terminated instead of continuing with this kind of absurd policy. The Trump gold card will take its place,” Commerce Secretary Howard Lutnick informed reporters on Tuesday.
