by Donald Wood
Last updated: 8:20 AM ET, Wed February 26, 2025
United States President Donald Trump is reportedly
considering a new program that would replace the current visa programs with a “gold
card” system for foreign investors looking to become American citizens.
According to Reuters.com,
President Trump revealed his desire to replace the current "EB-5"
immigrant investor visa program, which allows foreign nationals to earn “green
cards” if they invest money in the U.S. that creates or preserves American jobs.
In a meeting with reporters, Trump said, “We are going to be
selling a gold card. We are going to be putting a price on that card of about
$5 million.”
“It's going to give you green card privileges plus it’s
going to be a route to (American) citizenship, and wealthy people would be
coming into our country by buying this card,” Trump continued.
The Trump administration said more details would be released
in the coming weeks.
The EB-5 Immigrant Investor Program was created by Congress
in 1990 to “stimulate the U.S. economy through job creation and capital
investment by foreign investors.”
In response, Commerce Secretary Howard Lutnick called the
program “full of nonsense, make believe and fraud,” saying the plan was to end
it and “replace it with the Trump gold card.”
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