Following the announcement of ‘gold card’ visa, US President Donald Trump said that it’s a “bargain”. Speaking at his first cabinet meeting of his current term, Trump said that those who can pay $5 million, are going to create jobs, and its “going to sell like craz”,
Trump’s latest plan to sell a $5 million ‘gold card’ visa that will help the rich to get permanent residence in the US and make a path for them to get citizenship, has created quite the buzz worldwide.
The current EB-5 visa involves foreign investors to invest about $1 million into a business that creates at least 10 jobs. However, Commerce Secretary Howard Lutnick, who was also present at the meeting, said that these visas will replace this current programme for foreign investors.
Highlighting the importance of this new card, Trump said that various businesses could use the golden visa program to hire non-citizens who would work in the US. He said that the country need to bring in people whio can contribute. Trump also suggested that the money from the expensive visas could help pay off US debt.
Highlighting the importance of this new card, Trump said that various businesses could use the golden visa program to hire non-citizens who would work in the US. He said that the country need to bring in people whio can contribute. Trump also suggested that the money from the expensive visas could help pay off US debt.
There has been no information on how many of these cards will be issued or if there would be a procedure to select the recipients, in case of exclusions.
In the 2024 fiscal year, the State Department gave out more than 12,000 EB-5 visas, setting a new record for the program.
