US President Donald Trump unveiled his plan to sell novelty US ‘gold card’ residency permits to foreigners for a whopping $5 million. The ‘gold card’ has been described by Trump as a ‘pathway to citizenship,’ Cape {town} Etc reports.
According to Aljazeera, the visa aims to replace the current ‘EB-5’ immigrant investor visa, which has been designated for foreign job creators.
The ‘EB-5’ immigrant investor visa was launched in 1990 and is directed towards foreigners who invest approximately $1 million into a company that employs at least ten people.
Holders of the visa get immediate green cards in exchange for the designated amount.
The waiting period for a green card and eventual citizenship is usually a period between a few months and a few years.
Trump announced that the ‘gold card’ would provide holders with green card privileges with the added bonus of furthering their pathway towards American citizenship.
@livenowfoxPresident Donald Trump said that he wants the United States to sell “gold cards” to wealthy foreigners for $5 million. He made the comments during another executive order signing in the Oval Office. Trump says the cards would grant the purchaser permanent U.S. residency and would replace the EB5 visa program.♬ original sound – LiveNOW from FOX
Trump argued that the introduction of the new visa would result in job creation as well as an overall boost to the US economy.
He further confirmed that the new visa would go on sale in approximately two weeks from today, Wednesday, 26 February 2025.
Russian oligarchs appear to fall within the target market of the visa, reports The Guardian.
On the subject, Trump commented, ‘I know some Russian oligarchs that are very nice people.’
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