U.S. President Donald Trump has introduced a new residency program called the Gold Card, priced at $5 million as an alternative to the traditional Green Card. The initiative is set to launch in two weeks and is designed to replace the EB-5 Immigrant Investor Visa Program.
Currently, the EB-5 program grants green cards to foreign investors who invest in U.S. businesses and create jobs. The Gold Card will offer similar residency benefits but with a direct purchase option for wealthy individuals. Trump stated that it would provide green card privileges along with a direct path to American citizenship.
The Green Card grants permanent U.S. residency through employment, family sponsorship, or investment via the EB-5 program. The Gold Card offers the same residency benefits but requires a $5 million purchase, allowing for a faster process for affluent applicants.
The EB-5 program, established by Congress in 1992, allows foreigners to obtain U.S. residency by investing at least $1.05 million, or $800,000 in economically distressed areas. While it has helped fund major developments, including some linked to Trump’s businesses, it has also faced allegations of misuse. During his presidency, Trump attempted to raise the minimum investment to $1.8 million, but the proposal was not implemented. In 2022, the Biden administration reinstated the previous investment limits of $1.05 million and $800,000.
When asked whether Russian applicants would be eligible, Trump responded that it was possible, adding that he knew some Russian oligarchs who were very nice people. Further details on the Gold Card program are expected to be released in the coming weeks.
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