President Donald Trump has unveiled a new “gold card” visa initiative, offering wealthy foreign nationals a pathway to U.S. citizenship for a $5 million investment. This program is set to replace the existing EB-5 Immigrant Investor Program, which currently requires a minimum investment of $1.05 million, or $800,000 in targeted employment areas, to secure permanent residency.
The “gold card” will grant holders green card privileges and a direct route to citizenship. Commerce Secretary Howard Lutnick emphasized that this initiative aims to attract affluent individuals who will contribute significantly to the U.S. economy through spending, tax payments, and job creation. The administration projects that up to a million of these cards could be sold, with funds potentially used to reduce the national deficit.
Critics express concerns about security risks, potential corruption, and tax evasion associated with investment-based residency programs. Despite these concerns, the administration plans to implement the “gold card” program within two weeks, with detailed guidelines forthcoming.
Source: LIIE IMMIGRATION
