What is the ‘Gold Card’ for immigrants? All about Trump's $5 million ‘pathway to US citizenship’
Donald Trump unveiled the $5 million ‘Gold Card’ on Thursday. First announced in February, the ‘Gold Card’ is marketed as a premium version of the Green Card.
President Donald Trump unveiled his administration's new $5 million ‘Gold Card’ on Thursday. Showcasing the design to reporters aboard Air Force One, he said, "For $5 million, this could be yours."
“That was the first of the cards. You know what that card is?” he added. “It’s the gold card — the Trump card."
What is the ‘Gold Card’?
First announced in February, the ‘Gold Card’ is marketed as a premium version of the Green Card, designed to be sold to immigrants for $5 million. According to Trump, this exclusive card offers “a pathway to citizenship.”
“We're gonna be selling a gold card. You have a green card, this is a gold card. We're gonna be putting a price on that card of about $5 million and that's gonna give you green card privileges plus,” Trump explained while signing executive orders alongside Commerce Secretary Howard Lutnick in the Oval Office on February 25.
“It's gonna be a route to citizenship. And wealthy people will be coming into our country by buying this card. They'll be wealthy and they'll be successful and they'll be spending a lot of money and paying a lot of taxes and employing a lot of people.”
Possible Replacement for EB-5 Program?
Lutnick hinted that the new 'Gold Card' initiative could replace the existing EB-5 program, which allows immigrant investors to obtain Green Cards by investing in US businesses. He said the funds for the 'Gold Card'' might go directly to the government.
“The president said 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,” he said at the time. “They’ll be able to pay $5 million to the US government not to go through vetting, of course, going to make sure they are wonderful world class, global citizens.”
“They can come to America. The president can give them a green card, and they can invest in America, and we can use that money to reduce our deficit,” he added.
(With inputs from Bloomberg)
