Former President Donald Trump has announced plans to replace the EB-5 investor visa program with a new “gold card” offering green-card privileges and a pathway to U.S. citizenship for foreign investors willing to pay $5 million.
Trump’s “Gold Card” Plan for Rich Migrants
Washington, DC – Donald Trump has proposed a new initiative that would allow wealthy foreign investors to gain U.S. residency and a path to citizenship through a “gold card” program. The former president suggested that these cards, priced at $5 million each, could attract affluent immigrants and generate significant revenue to reduce the national debt.
Trump stated that this initiative would replace the existing EB-5 Immigrant Investor Program, which grants green cards to foreign nationals who invest in U.S. businesses that create jobs. According to him, the EB-5 program has been plagued by fraud and inefficiencies, making the new “gold card” a better alternative.
What is the “Gold Card”?
- Price: $5 million per card
- Benefits: Provides green card privileges and a direct route to U.S. citizenship
- Target Audience: Wealthy foreign investors
“We are going to be selling a gold card… It will grant green card privileges and lead to U.S. citizenship. Wealthy individuals will be able to buy their way into America,” Trump explained.
Russian Oligarchs & Eligibility
When asked whether Russian oligarchs could qualify, Trump responded, “Yeah, possibly. I know some Russian oligarchs who are very nice people.”
EB-5 Program: What’s Changing?
The EB-5 Immigrant Investor Program, established in 1990, was designed to boost the U.S. economy by attracting foreign investments that create jobs. However, Commerce Secretary Howard Lutnick criticized it as a system full of “nonsense, make-believe, and fraud.”
“The president decided that instead of this flawed EB-5 program, we’ll introduce the Trump Gold Card,” Lutnick stated.
More details about the program are expected to be released in the coming weeks.
Reference Website – Link