US President Donald Trump presented on Tuesday the idea of replacing a visa program for foreign investors with a gold card, which could be bought for $ 5 million as a way of obtaining US citizenship.
Trump told reporters that he will replace the “EB-5” investor visa program-which allows foreigners who invest large amounts of money they create or preserve jobs in the US become permanent residents-for the so-called Gold Card.
The EB-5 program grants “Green Cards” to foreigners who promise to invest in business in the country. Green Card is a document that authorizes foreigners to live and work permanently in the US.
“Let’s sell a gold card,” said Trump. “Let’s put a price in this visa of about $ 5 million,” he added.
“It will give you the privileges of Green Card and will also be a route to citizenship (American), and rich people would come to our country by buying this card,” Trump said, adding that the details of the scheme would be released in two weeks.
When questioned by a journalist if Russian oligarchs would be eligible for Gold Card, Trump replied that it is possible. “Yes, possibly. I know some Russian oligarchs that are very good people, ”he said.
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The EB-5 immigrant investor program, run by US citizenship and immigration services, was created by Congress in the 1990s to “stimulate the economy through the creation of jobs and investments from foreign investor capital”, according to the site of the agency.
“The EB-5 program… it was full of things that made no sense, it makes accounts and fraud, and it was a way to get a Green Card at a low price. So the president said that instead of having this kind of ridiculous EB-5 program, we will end the EB-5 program. We will replace you with Trump’s Gold Card, ”Trimard Lutnick, reporters on Tuesday.
