US President Donald Trump has asked the Department of Government Efficiency (Doge) to set up a website to sell his $5 million “gold card,” which will give foreign investors premium access to American citizenship.
Doge’s Elon Musk is tasked with working out a mechanism to introduce the gold cards and finalise the application process for the “special immigration visas”, according to a report by The New York Times.
Engineers associated with DOGE have commenced work on the assigned project. In partnership with personnel from the State Department, the Department of Homeland Security, and US Citizenship and Immigration Services, Musk’s team has initiated the creation of the new visa portal.
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.
What is the ‘gold card’?
In February, Trump floated the idea of replacing a visa program for foreign investors with a so-called “gold card” that could be bought for $5 million as a route to American citizenship.
Trump told reporters he will replace the “EB-5” immigrant investor visa program, which allows foreign investors of large sums of money that create or preserve US jobs to become permanent residents, with a so-called “gold card.”
The EB-5 program grants “green cards” to foreigners promising to invest in US businesses.
“We are going to be selling a gold card,” Trump said. “We are going to be putting a price on that card of about $5 million,” he added.
“It’s going to give you green card privileges plus its going to be a route to (American) citizenship, and wealthy people would be coming into our country by buying this card,” Trump said, adding that details about the scheme will come out in two weeks.
With inputs from agencies