Donald Trump is clear that not all immigrants are a problem. Millionaires, for example, are more than welcome.
The President of the United States made this clear on Tuesday when he announced the creation of a “golden card”, a new special visa that will allow wealthy foreigners to live and work in the country in exchange for five million dollars. Additionally, this program will open the path to U.S. citizenship.
“Rich people will come to our country by purchasing this card. They will be successful individuals who will spend a lot of money, pay a lot of taxes, and create jobs. We believe this will be a great success,” Trump stated during a press conference from the Oval Office.
This new visa will coexist with the current green card and will replace the EB-5 program, which has so far granted residency in exchange for an investment of about one million dollars in a business that generates at least 10 jobs in the United States.
According to Secretary of Commerce Howard Lutnick, who joined Trump during the announcement, the EB-5 program was “fraudulent”, although he did not provide evidence to support this claim. As a result, it will be replaced by the new golden card, set to take effect in approximately two weeks.
Lutnick also revealed that applicants will undergo a verification process to ensure they are “first-class global citizens.”
However, neither Trump nor Lutnick detailed additional requirements for obtaining this golden card, nor whether its beneficiaries will be required to create jobs in the country.
“It’s something like a green card, but for a higher level of sophistication. It’s a pathway to citizenship for wealthy individuals or highly talented people,” Trump explained. He also assured that he would not need Congress’ approval to implement the measure, despite the fact that this body is responsible for determining the requirements for U.S. citizenship.
Trump hopes that local companies will use this visa to hire highly skilled workers and stated that his administration could sell “one million of these cards, or even more.”
When asked whether Russian oligarchs could access this program, Trump responded without hesitation: “Yes, possibly.” He added: “I know some Russian oligarchs who are good people. They are not as rich as they used to be, but I think they can afford five million dollars.”
