US President Donald Trump has announced a new proposal for a “gold card” residency permit priced at $5 million, set to launch in two weeks. This initiative is designed to replace the existing EB-5 immigrant investor visa programme. The new gold card system will offer similar residency rights to the green card but with a direct purchase option for wealthy individuals, according to Trump.
The current EB-5 programme grants green cards to foreigners who invest in US businesses and create jobs, but Trump believes the new gold card system will offer a faster track to American citizenship. Trump anticipates strong interest from wealthy individuals, predicting the sale of one million gold cards could generate significant revenue to help pay down the national debt.
The EB-5 programme has faced criticism for being misused despite financing various developments, including some linked to Trump’s family. In his first term, Trump attempted to increase the minimum investment required, but the move was overturned by a judge in 2021. The Biden administration later set the current investment levels at $1.05 million/$800,000.
While details of the gold card programme eligibility have not been fully disclosed, Trump hinted that Russian individuals could potentially qualify, stating he knew some “nice” Russian oligarchs. The new gold card system is expected to be unveiled in the coming weeks, offering wealthy individuals a quicker route to residency and citizenship in the United States.
Note: The image is for illustrative purposes only and is not the original image associated with the presented article. Due to copyright reasons, we are unable to use the original images. However, you can still enjoy the accurate and up-to-date content and information provided.
