The President of the United States, Donald Trump, announced the creation of the 'golden card', a permit aimed at wealthy migrants wishing to settle in the country with the same privileges as permanent residents, also known as holders of the 'green card'.
'We will price it at about 5 million dollars, and that will grant them the privileges of the ‘green card’, as well as a path to U.S. citizenship,' Trump stated. The president suggested that this new immigration permit could carry his own name, referring to it as the 'Trump golden card'.
Trump expressed that the creation of this card will attract successful and wealthy individuals to the country, who will contribute economically through taxes, job creation, and spending.
The measure announced by Trump plans to sell a 'golden card', in contrast to the existing 'green card', and will require significant investment from those interested in obtaining it. This new permit will replace the EB-5 Immigrant Investor Program, which allowed foreign investors and their families to obtain permanent residency in the U.S.
Commerce Secretary Howard Lutnick accompanied Trump in the announcement and pointed out that the EB-5 program will be canceled and replaced by the 'golden card' in about two weeks. Lutnick described the EB-5 program as 'fraudulent', although he did not provide evidence to that effect.
The EB-5 visa was created in 1990 through the Immigration Act and allowed foreign investors to obtain permanent residency in the U.S. through substantial investments in businesses in the country.
