According to Commerce Secretary Howard Lutnick, foreign nationals can permanently reside and work in the U.S. by registering for a new “gold card” visa if they invest $5 million in the United States.
In February, President Donald Trump proposed the visa, stating, “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, plus it’s going to be a route to citizenship. And wealthy people will be coming into our country by buying this card.”
At Axios’ “Building the Future” event in Washington, DC, Lutnick reintroduced the card stating, “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.”
“These are going to be great people who are going to come and bring businesses and opportunity to America, and they’re going to pay $5 million. If there are 200,000 people who pay, that’s a trillion dollars. That pays for everything,” he concluded.
The Commerce Secretary explained that the “gold card” would replace the government’s EB-5 immigrant investor visa program, which grants green cards to immigrants who make an investment of $1.8 million into the U.S.
Lutnick commented that there is already strong interest in the new visa program from investors in the Middle East, where he has been “selling” the gold cards. “Basically, everyone I meet who is not an American is going to want to buy this card if they have the fiscal capacity.”
The card has not yet been passed by Congress.
By CEO NA Editorial Staff
