U.S. President Donald Trump announced a “Gold Card” to sell to immigrants for 5 million dollars.
He said the card is the premium version of Green Card, and will be a route to citizenship for immigrants.
The Gold Card was announced on Tuesday by President Trump.
While signing the executive orders alongside Commerce Secretary, Howard Lutnick, he said, “We’re gonna be selling a gold card. You have a green card, this is a gold card. We’re gonna be putting a price on that card of about $5 million and that’s gonna give you green card privileges plus.”
“It’s gonna be a route to citizenship. And wealthy people will be coming into our country by buying this card. They’ll be wealthy and they’ll be successful and they’ll be spending a lot of money and paying a lot of taxes and employing a lot of people.”
Trump further said the program will be launched in two weeks. Meanwhile, he added that his administration is thinking of securing approval from Congress.
Trump declared that the program would be launched in two weeks, and he believed his administration did not require approval from Congress. Nevertheless, details about the program’s implementation are not clear.
Commerce Secretary Howard Lutnick implied that the ‘Gold Card’ initiative could replace the existing EB-5 program, which allows investor immigrants to acquire Green Cards by investing in the US businesses.
Lutnick said that the funds for the Gold Card might directly go to the government.
“The president said rather than having this sort of ridiculous EB-5 program, we’re going to end the EB-5 program. We’re going to replace it with the Trump gold card,” he said.
“They’ll be able to pay $5 million to the US government not to go through vetting, of course, going to make sure they are wonderful world class, global citizens.”
“They can come to America. The president can give them a green card, and they can invest in America, and we can use that money to reduce our deficit,” he added further.
