Over 1 million cards, each worth 5 million USD! Trump wants to "sell American green cards"?
Trump announced at a White House press conference that he will launch a "Gold Card" priced at $5 million, allowing individuals to purchase it to obtain permanent residency in the United States, with expectations to sell over 1 million cards. This program will replace the EB-5 investment immigration program, aiming to attract wealthy individuals to the U.S. and create jobs. Secretary of Commerce Gina Raimondo criticized the fraud issues associated with the EB-5 program and stated that "Gold Card" applicants will undergo scrutiny, with project proceeds used to reduce the deficit
On February 25th local time, the White House held a press conference where Trump stated that he would allow individuals to pay $5 million to purchase a "golden card," thereby obtaining permanent residency in the United States, and terminate the current program that grants green cards through investment. It is expected that the U.S. could sell over 1 million "golden cards." Trump said:
"Wealthy people will enter our country by purchasing this card; they will be rich, successful, and will spend a lot of money, pay a lot of taxes, and hire a lot of employees. We believe this will be very successful."
Trump added that the new program will be launched in the coming weeks, and companies like Apple could also choose to pay $5 million to gain approval for foreign talent to reside in the U.S.
According to reports, the new "golden card" system will replace the EB-5 program launched in the 1990s.
The EB-5 program requires investors to invest at least $900,000 in qualified U.S. projects and demonstrate that it has created at least 10 jobs to obtain a green card. The investor's spouse and children under 21 can also obtain a green card.
Yesterday, Secretary of Commerce Gina Raimondo, who attended the press conference with Trump, criticized the EB-5 program, pointing out that there have been some EB-5 fraud cases in the past. Raimondo stated that applicants for the "golden card" will undergo scrutiny to "ensure they are world-class global citizens."
More importantly, Raimondo stated that the government will use the proceeds from the "golden card" program to reduce the deficit.
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