In a provocative announcement, U.S. President Donald Trump unveiled a plan to sell green cards to wealthy foreigners for an astonishing fee of $5 million each. This initiative, referred to as the “gold card,” promises not only the right to live and work in the United States but also a streamlined path to citizenship.
During his address from the Oval Office, Trump stated, “You have a green card. This is a gold card. 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 it’s going to be a route to citizenship. Wealthy people will be coming into our country by buying this card.” The rollout of this program is anticipated to begin within two weeks, with expectations that millions could be sold to affluent individuals worldwide.
When asked about the eligibility of Russian oligarchs, Trump replied, “Yeah, possibly. I know some Russian oligarchs that are very nice people,” which raised concerns about the implications of such a policy.
Commerce Secretary Howard Lutnick, who stood alongside Trump during the announcement, clarified that this gold card would replace the existing EB-5 immigrant investor visa program. This program currently allows foreign investors to obtain visas by investing in U.S. projects that generate jobs. Lutnick assured that all applicants would undergo thorough vetting to ensure they are “wonderful world-class global citizens.”
The EB-5 program, established in 1992, has faced criticism for straying from its original purpose and has been utilized by various businesses, including those connected to Trump. This program typically requires a minimum investment of $1,050,000 or $800,000 in economically distressed areas for green card eligibility.
While the EB-5 program has undergone changes during Trump’s administration, including a proposed increase in investment amounts that a federal judge later blocked, it was renewed in 2022 under the Biden administration, maintaining its current investment thresholds.
As the nation awaits more information on this unprecedented gold card initiative, the potential impact on immigration policy and the landscape of foreign investment in the U.S. is a topic of significant interest.
For continued updates, stay tuned to Newspot Nigeria.
Share your story or advertise with us: Whatsapp: +2347068606071 Email: info@newspotng.com
