Trump offers $5 million gold card visas for wealthy immigrants
- The U.S. will begin selling gold cards for $5 million, aimed at wealthy foreigners.
- This new visa will replace the existing EB-5 investor visa program, which required only $1 million and job creation.
- The proposal is positioned as a way to attract high-income individuals to boost the economy and reduce the national deficit.
In the United States, President Donald Trump revealed a new immigration proposal involving the sale of high-cost visas known as gold cards. Announced in the Oval Office, these gold cards will be priced at $5 million each and are designed to attract wealthy foreigners who can contribute economically by creating jobs in the country. Trump emphasized that this initiative seeks to boost investments and potentially reduce the national deficit, contrasting it with the existing EB-5 program that required lower investment amounts but entailed job creation mandates. Trump's administration intends to replace the EB-5 visas, believed to be susceptible to fraud, with this new scheme aimed at ensuring economic benefits from incoming migrants who possess significant financial resources. The program is touted to significantly benefit the U.S. economy by drawing in a million or more affluent applicants, as there are no immediate restrictions on country of origin. Trump acknowledged the possibility of allowing Russian oligarchs to apply, emphasizing the vetting process for all applicants. Commerce Secretary Howard Lutnick supported the initiative, stating it could provide considerable funds to the government.