On Thursday, US President Donald Trump gave a sneak peek at the $5 million “gold card” visa for wealthy migrants, which featured his image, at a press briefing onboard Air Force One.
Trump displayed the card’s design and described it as a symbol of exclusivity and opportunity. “This could be yours for $5 million,” he said. That was the first card. Are you familiar with that card? The EB-5 Immigrant Investor Visa Program, which currently allows foreign investors to obtain Green Cards if they invest at least $1.8 million elsewhere or $800,000 in projects in Targeted Employment Areas (TEAs) and create at least 10 US jobs, would be replaced by the Gold Card. Trump slammed the outdated and inefficient EB-5 scheme.
According to the New York Post, Commerce Secretary Howard Lutnick had stated last month that over 37 million people worldwide have the wherewithal to purchase a gold card, and that over 1,000 gold cards had been sold.
Data from the Invest In the USA (IIUSA) trade group of program participants shows that 135,518 EB-5 visas have been issued during the previous 25 years. In February, he stated that his government did not rule out the possibility that Russian oligarchs could be eligible and that it hoped to sell “maybe a million” of the cards.
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