On Tuesday, President Donald Trump declared that the United States would offer a new “gold card” to affluent foreigners. For a $5 million fee, this card will grant them the ability to live and work in the United States and provide a route to citizenship. From the Oval Office, Trump declared, “We’re going to be selling a gold card.” “You’re a green card holder. This card is gold. We’re going to place a $5 million price tag on that card, which will grant you green card privileges and pave the way for citizenship. And by purchasing this card, wealthy individuals will be entering our nation. Trump suggested that millions of cards might be sold and stated that they will begin selling these cards in around two weeks.

Trump responded, “Yeah, possibly,” when asked if Russian oligarchs could purchase these cards. Some of the Russian oligarchs I know are really kind individuals.Standing next to Trump, Commerce Secretary Howard Lutnick clarified that the government’s EB-5 immigrant investor visa program will be replaced with this card. Foreign investors can invest in US businesses that generate jobs under the existing EB-5 program and then apply for visas to immigrate to the United States.Naturally, they will need to undergo screening to ensure they are excellent, world-class citizens, Lutnick stated. In 1992, Congress established the EB-5 program. In order to create jobs for American people, it currently gives green cards to immigrants who invest at least $1,050,000, or $800,000, in economically distressed areas.

This program has been utilised to finance significant real estate developments by companies associated with Trump and his family.
During Trump’s first term, the program was criticised by both Democrats and Republicans. Numerous lawmakers cautioned that it required change since it had deviated from its initial objectives.A federal judge invalidated the Trump administration’s 2019 attempt to increase the minimum investment levels in 2021, stating that the acting Homeland Security secretary who gave the rule approval had not been duly appointed.

When the program was last renewed by the Biden administration in 2022, the minimum investment criteria were raised to their present levels. What do you think about this Trump gold card, Leave us a feedback, Stay current and connect with us on [Facebook: https://www.facebook.com/share/1An4REwgwy/?mibextid=wwXIfr].