US President Donald Trump has introduced a new immigration visa known as the "gold card," aimed at wealthy foreign investors seeking permanent residency in the United States for a $5 million investment.
Announced during a press briefing on Air Force One, Trump referred to it as the "Trump card," which is intended to replace the existing EB-5 visa program.
This initiative not only provides a pathway to permanent residency but also offers a route to citizenship after five years, contingent upon the applicant's verification as a global citizen.
Trump highlighted the card's potential to stimulate economic growth, projecting that the sale of one million Gold Cards could generate $5 trillion in revenue, a significant contribution towards addressing the nation's $35 trillion debt.
Commerce Secretary Howard Lutnick criticized the EB-5 program as flawed and fraudulent, asserting that the new Gold Card will attract high-caliber global citizens.