Trump plans to sell visas to wealthy immigrants for $5 million
The ‘gold card’ will also pave the way to American citizenship, according to the Republican
U.S. President Donald Trump has approved the repeal of the right to American citizenship by birth in the country. In addition, he has closed the border to illegal immigration and threatened a mass deportation of immigrants. However, there is room for the rich. Trump announced on Tuesday in the Oval Office that he will put a gold card on sale, similar to the green card, which certifies legal residence. However, his gold visa will cost around $5 million. In addition to residency, it will open the way to American citizenship.
“We’re going to be selling a gold card. You have a green card. This is a gold card. We’re going to be putting a price on that card of about $5 million and that’s going to give you green card privileges, plus it’s going to be a route to citizenship,” Trump told reporters at the White House Tuesday. The president made the remarks as he signed executive orders, including one paving the way for tariffs on copper.
Commerce Secretary Howard Lutnick, who was also present, suggested the program would begin in two weeks and would replace the current EB-5 visa program for foreign investors, more akin to the golden visa programs in other countries.
“Rather than having this sort of ridiculous EB-5 program, we’re going to end the EB-5 program. We’re going to replace it with the Trump Gold Card, which is really a green card,” Lutnick explained. “They’ll be able to pay $5 million to the U.S. government. They’ll have to go through vetting, of course, to make sure they’re wonderful world-class global citizens.”
“President [Trump] can give them a green card, and they can invest in America, and we can use that money to reduce our deficit,” Lutnick said. It was not clear whether any investment commitment of any kind would be required beyond paying the visa fee. Those and other details of the plan are not yet available.
Trump said he hopes businesses will pay to bring skilled workers to the country by buying these gold cards, and that he hoped the U.S. could sell a million of them. If that goal is met, the Republican added, the Treasury would raise $5 trillion and could pay off more than 10% of the $35 trillion federal debt.
The president said the card would pave the way to citizenship, but that people would not buy the right to citizenship with the card.
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