U.S. President Donald Trump has announced a new $5 million “gold card” visa program aimed at attracting wealthy foreign investors to the United States.
Speaking at the Oval Office, Trump stated that the program would allow affluent individuals to contribute to the economy by investing in the U.S., creating jobs, and paying taxes.
“Wealthy people will be coming into our country by buying this card,” Trump said. “They’ll be successful, they’ll be spending a lot of money, paying a lot of taxes, and employing a lot of people.”
The proposed visa would serve as a replacement for the EB-5 investor visa, which currently grants green cards to foreign nationals who invest in U.S. businesses.
Trump described the new program as a “higher level of sophistication,” offering a pathway to citizenship for both wealthy individuals and highly skilled workers. He added that companies could use the program to secure long-term status for talented employees.
“It’s somewhat like a green card, but at a higher level of sophistication, it’s a road to citizenship for people, and essentially people of wealth or people of great talent, where people of wealth pay for those people of talent to get in, meaning companies will pay for people to get in and to have long term status in the country,” Trump added.
When asked whether Russian oligarchs would be eligible, Trump replied, “It’s possible. I think they can afford $5 million.”
The revenue generated from the program, according to Trump, would be used to reduce the national debt. He also noted that major technology companies, including Apple, could benefit from the initiative by attracting top IT professionals.
Trump stated that the program is expected to launch in approximately two weeks.
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