 "Rich foreigners with $5 million to spare can soon register to buy Trump's 'Gold Card' visa, says Lutnick")
US Commerce Secretary Howard Lutnick has announced that rich foreign nationals can soon register to purchase the $5 million worth “gold card” visa, which gives people premium access to American citizenship.
“I expect there will be a website up called ‘Trump card dot gov’ in about a week. The details of that will come soon after, but people can start to register,” he said.
Lutnick has stated that the card would serve as a replacement for the US government’s EB-5 immigrant investor visa program, which offers green cards to foreign nationals who invest $1.8 million in the country, or $900,000 in designated economically distressed areas.
Lutnick has also suggested that “many” have expressed interest in buying the Gold Card Visa, claiming that he was already “selling cards” during his recent visit to West Asia.
“Basically, everyone I meet who is not an American is going to want to buy this card if they have the fiscal capacity,” Lutnick said.
What is the ‘gold card’?
In February, Trump proposed replacing the EB-5 visa program for foreign investors with a “gold card” that could be purchased for $5 million as a pathway to American citizenship.
Trump announced plans to replace the EB-5 immigrant investor visa program, which allows foreign investors to become permanent residents by investing large sums of money that create or preserve US jobs, with a “gold card.”
Impact Shorts
More ShortsThe EB-5 program grants green cards to foreigners who promise to invest in US businesses.
“We are going to be selling a gold card,” Trump said. “We are going to be pricing that card at about $5 million.”
“It’s going to offer green card privileges and serve as a route to American citizenship, attracting wealthy individuals to our country by purchasing this card,” Trump added, noting that details about the plan would be revealed in two weeks.
The ‘gold card’ project
Led by Marko Elez and Edward Coristine from Musk’s Doge, the gold card project members have held several meetings with officials from different agencies who handle visas and immigration.
Doge engineers are currently figuring out a way to make the gold card system different from the usual visa process.
The team is focused on accelerating standard immigration procedures, such as interviews and background checks, to grant residency to high-net-worth applicants within two weeks of their application.
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