Trump to Offer 'Gold Card' Visas for $5 Million to the Rich
President Donald Trump said he is starting a program to offer residency and a path to citizenship to investors who pay $5 million, offering a new avenue for legal immigration even as he carries out a sweeping crackdown on undocumented migrants.
(Bloomberg) — President Donald Trump said he is starting a program to offer residency and a path to citizenship to investors who pay $5 million, offering a new avenue for legal immigration even as he carries out a sweeping crackdown on undocumented migrants.
tap here to see other videos from our team.
Trump to Offer 'Gold Card' Visas for $5 Million to the Rich Back to video
Trump said the program, dubbed the “gold card,” would launch in two weeks, adding that he did not believe his administration needed to secure approval from Congress. The full scope of the plan and how it would be implemented was not immediately clear.
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
“We’re going to be selling a gold card,” Trump said Tuesday in the Oval Office as he signed executive orders alongside Commerce Secretary Howard Lutnick.
“We’re going to be putting a price on that card of about $5 million, and that’s going to give you green card privileges,” he added, referencing the permits currently issued to US permanent residents.
Lutnick said the move could replace the existing EB-5 program, which allows immigrant investors to acquire green cards by investing a certain amount toward a business in the US.
Asked by a reporter if participants would need to invest a certain amount of money to qualify for a gold card, Lutnick responded “yeah, exactly” but suggested that funds for the visa might be paid directly to the government.
“The president said rather than having this sort of ridiculous EB-5 program, we’re going to end the EB-5 program. We’re going to replace it with the Trump gold card, which is really a green card gold so they’ll be able to pay $5 million to the US government not to go through vetting, of course, going to make sure they are wonderful world class, global citizens.”
“They can come to America. The president can give them a green card, and they can invest in America, and we can use that money to reduce our deficit,” he added.
Trump has said he wants to keep pathways open for legal immigration to the US even as he carries out what he touted on the campaign trail as the largest deportation of undocumented migrants in the country’s history.
Trump has moved to ramp up deportations and secure the US southern border during his second term, including threatening Canada and Mexico with tariffs if they do not do more to stem the flow of fentanyl, other illegal drugs and people into the US.
—With assistance from Josh Wingrove.
(Updates throughout)
