Trump Introduces $5 Million ‘Gold Card’ US Residence Permits
President Donald Trump has announced that a premium version of the US green card will be available to affluent foreigners for a price of $5 million.. source:TROIB RTS
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A premium version of the traditional green card is poised to draw wealthy foreigners, according to the US president.
On Tuesday, US President Donald Trump revealed plans to introduce a ‘gold card’ visa that offers a pathway to citizenship for a substantial fee of $5 million. This initiative aims to boost foreign investment in the country.
The announcement follows the Trump administration's intensified immigration enforcement efforts, including attempts to abolish birthright citizenship and restrict asylum seekers at the US-Mexico border.
“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,” the president told reporters at the White House, emphasizing that the ‘gold card’ will serve as a means for citizenship that appeals to affluent individuals.
Trump also expressed his belief that prospective applicants would “be spending a lot of money and paying a lot of taxes and employing a lot of people,” forecasting that the program will be “extremely successful.”
US Commerce Secretary Howard Lutnick stated that the administration plans to replace the current EB-5 Immigrant Investor Program—which he described as “full of nonsense, make-believe and fraud”—with the “Trump Gold Card.” He indicated that applicants for the new card would undergo a vetting process.
The existing EB-5 immigrant investor visa allows foreign investors to obtain a residence permit by investing a minimum of $1.05 million in a new business that creates jobs or $800,000 in a business located in a rural area, a high-unemployment area, or an infrastructure project.
Since taking office on January 20, the president has signed several executive orders aimed at tightening immigration regulations. These measures include increasing scrutiny for visa applicants, limiting birthright citizenship, directing military forces to secure the southern border, and constructing additional barriers. He also revoked 78 executive orders issued by his predecessor, Joe Biden, which encompassed five directives related to immigration.
Alejandro Jose Martinez contributed to this report for TROIB News
On Tuesday, US President Donald Trump revealed plans to introduce a ‘gold card’ visa that offers a pathway to citizenship for a substantial fee of $5 million. This initiative aims to boost foreign investment in the country.
The announcement follows the Trump administration's intensified immigration enforcement efforts, including attempts to abolish birthright citizenship and restrict asylum seekers at the US-Mexico border.
“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,” the president told reporters at the White House, emphasizing that the ‘gold card’ will serve as a means for citizenship that appeals to affluent individuals.
Trump also expressed his belief that prospective applicants would “be spending a lot of money and paying a lot of taxes and employing a lot of people,” forecasting that the program will be “extremely successful.”
US Commerce Secretary Howard Lutnick stated that the administration plans to replace the current EB-5 Immigrant Investor Program—which he described as “full of nonsense, make-believe and fraud”—with the “Trump Gold Card.” He indicated that applicants for the new card would undergo a vetting process.
The existing EB-5 immigrant investor visa allows foreign investors to obtain a residence permit by investing a minimum of $1.05 million in a new business that creates jobs or $800,000 in a business located in a rural area, a high-unemployment area, or an infrastructure project.
Since taking office on January 20, the president has signed several executive orders aimed at tightening immigration regulations. These measures include increasing scrutiny for visa applicants, limiting birthright citizenship, directing military forces to secure the southern border, and constructing additional barriers. He also revoked 78 executive orders issued by his predecessor, Joe Biden, which encompassed five directives related to immigration.
Alejandro Jose Martinez contributed to this report for TROIB News
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