The Trump administration said Tuesday that it would be revamping the U.S. investor visa, increasing the funds required to secure the status while dubbing the new option a “gold card.”
Commerce Secretary Howard Lutnick told reporters in the Oval Office that the Trump administration would be ending the existing EB5 visa program, while President Trump boasted the new visa would bolster the economy.
Lutnick said the new card would raise funds to pay down U.S. debts.
While Trump said the new system has “never been done before, anything like this,” the broad strokes of what the men announced sound similar to the existing EB5 investor program, albeit with a higher price tag.
The current program requires would-be investors to invest a little over $1 million and create at least 10 jobs and it also puts investors on a pathway to a green card and later citizenship.
It’s unclear, however, whether Trump can end the EB5 program without Congress’s blessing as the investor program was just reauthorized in 2022.
Posted by John3262005
8 Comments
If this actually happens I guarantee that anyone who buys this will get a physical gold card with this dipshits face on it as part of the deal
They better come with free bus fares.
What’s the difference between this and the EB5? My understanding is the EB5 is a million or so in investment, while this is five million paid to the government. Not sure if I’m missing other aspects.
Basically what many EU countries like Portugal, Malta and Cyprus have and that got (and still gets?) abused by shady, rich people from countries like Russia.
This but auction
“what if I do x but more corrupt?”
– trump
Maybe unpopular opinion but are there downsides to letting wealthy and presumably educated people buy citizenship assuming they are law abiding?
Outside of a haves or have nots kind of deal
Micheal Scott ass idea