U.S. President Donald Trump on Tuesday introduced a proposal to replace the EB-5 immigrant investor visa program with a new initiative dubbed the 'gold card.' Priced at $5 million, this 'gold card' aims to offer foreign investors a direct route to American citizenship.
Trump stated that the existing EB-5 program, which grants green cards to foreign investors who create or preserve U.S. jobs, has been riddled with fraud and inefficiencies. He criticized the program as a \"low price\" way to obtain residency and announced its replacement with the more lucrative 'gold card' scheme.
The proposed 'gold card' will provide holders with green card privileges and a pathway to citizenship, potentially attracting wealthy individuals from around the globe. When questioned about the eligibility of Russian oligarchs, Trump indicated that it is possible some could qualify for the program.
Details of the 'gold card' initiative are expected to be unveiled within the next two weeks, marking a significant shift in U.S. immigration policy aimed at bolstering the economy through substantial foreign investments.
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Trump floats $5 million 'gold card' as a route to U.S. citizenship
cgtn.com
