A new path to US citizenship? - Trump announces 'golden card' for "only" $5 million!
President Donald Trump said Tuesday that the U.S. will sell a "golden card" to wealthy foreigners, granting them the right to live and work in the U.S. and offering a path to citizenship in exchange for a $5 million fee.
Trump told reporters he would replace the "EB-5" immigrant investor visa program, which allows foreign investors with large sums of money who create or preserve jobs in the U.S. to become permanent residents, with the so-called "golden card."
The EB-5 program grants "green cards" to foreigners who promise to invest in American businesses.
"We're going to sell a gold card ," Trump said. " We're going to put a price tag on that card of about $5 million," he added.
"It will give you green card privileges plus it will be a path to (American) citizenship and wealthy people would come to our country by buying this card, " Trump said, adding that details about the scheme would be released within two weeks.
Trump added that it's possible that Russian oligarchs could qualify for the Golden Cards, when asked by a reporter if those people would qualify. "Yeah, maybe. Hey. I know some Russian oligarchs who are very good people ," he said.
The EB-5 Immigrant Investor Program, administered by U.S. Citizenship and Immigration Services, was created by Congress in 1990 to " stimulate the U.S. economy through job creation and capital investment by foreign investors ," according to the USCIS website.
"The EB-5 program... was full of nonsense, it was inaccurate and a scam, and it was a way to get a green card at a low price. So the president said that instead of having this kind of ridiculous EB-5 program, we are going to end the EB-5 program. We are going to replace it with Trump's golden card ," Commerce Secretary Howard Lutnick said Tuesday.
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