Trump proposes $5 Million ‍‍`Gold Card‍‍` to buy U.S. Citizenship, replacing EB-5 visa program

President Donald Trump has suggested that foreign investors be given the opportunity to purchase U.S. citizenship with a “Gold Card.” 

This would replace the current EB-5 visa program, which allows investors to become permanent residents by making large investments in the country. 

According to reports from Reuters, the cost of this new Gold Card will be set at $5 million.

Speaking to reporters on Tuesday, Trump explained, “With the EB-5 visa, individuals can become permanent residents by making large investments and creating jobs in the U.S. This will now be replaced by the Gold Card.” 

He went on to say that the new Gold Card would provide the same benefits as a Green Card and open up a pathway to citizenship.

“The world’s wealthiest people will be able to buy this card and come to America. We will release more details about this new initiative in the next two weeks,” Trump added.

When asked whether Russian billionaires would also be able to purchase the Gold Card, Trump replied, “Probably. I know a few Russian oligarchs who are very good people.”

The EB-5 Immigrant Investor Program has been in place since 1990, aiming to promote job creation and economic growth in the U.S. through foreign investments. 

However, Trump’s administration seems to be moving toward a change.

Secretary of Commerce Howard Lutnick also weighed in on the matter, saying, “The EB-5 program is meaningless, imaginary, and full of fraud. President Trump wants to cancel it and replace it with the Gold Card.”

Experts suggest that if the new Gold Card program is implemented, it could bring significant changes to U.S. immigration policy for foreign investors.

This proposal has sparked a lot of interest and could potentially reshape the landscape of U.S. immigration.