Donald Trump has boasted of selling US residency to wealthy foreigners through an around $5 million “Gold Card” from as early as March, but immigration experts say the planned visa cannot be created without Congress.
In the United States, permanent residents can usually apply for naturalisation after five years.
Some 8,000 people were issued a EB-5 visa in 2022, according to Mittelstadt.
“We’re going to replace it with the Trump gold card,” Commerce Secretary Howard Lutnick said.
The EB-5, he said, “was full of nonsense, make-believe and fraud, and it was a way to get a green card that was low price”.
