Trump proposes $5 million 'gold card' for US citizenship
On Tuesday, President Donald Trump introduced the idea of replacing the EB-5 immigrant investor visa program with a "gold card" that could be purchased for $5 million, offering a new path to US citizenship.
Trump explained that the current EB-5 program, which grants permanent residency to foreign investors who contribute substantial funds to U.S. businesses, would be replaced by the gold card system. This new card would offer similar green card privileges and provide a direct route to American citizenship for wealthy individuals.
He further suggested that the gold card could potentially be available to Russian oligarchs as well, when asked by reporters. While the details of the plan are yet to be fully disclosed, Trump stated that more information would be revealed within two weeks.
The EB-5 program, established in 1990, aimed to stimulate the U.S. economy by attracting foreign investment and creating jobs. However, Commerce Secretary Howard Lutnick criticized the program, labeling it as fraudulent and ineffective, and stated that it would be replaced by the new "Trump gold card" initiative.
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