Trump Announces New Path to US Citizenship: Golden Card

- President Donald Trump introduces a new program offering residency and citizenship to foreign investors for $5 million.

President Trump's Announcement

President Trump revealed a new 'Golden Card' program that will grant residency and citizenship to foreign investors who create jobs in the US. This program, set to launch in the coming weeks, will require a $5 million investment, providing similar privileges to a 'green card' and a pathway to citizenship.

Program Details

President Trump stated that the program aims to attract wealthy individuals who will contribute significantly to the US economy. He anticipates the sale of millions of these cards, potentially generating trillions of dollars in revenue to offset the country's debt. The vetting process for potential cardholders will be thorough, ensuring only qualified candidates are selected.

End of EB-5 Investor Visa

Commerce Secretary Howard Lutnick criticized the EB-5 investor visa as a loophole for obtaining a green card at a low cost. The administration plans to terminate the EB-5 program in favor of the new 'Golden Card' initiative, which will welcome global citizens who meet stringent criteria.

Global Impact

This program is expected to attract individuals from various countries, including Russia. President Trump expressed openness to Russian oligarchs participating in the program, emphasizing the need for exceptional candidates. The 'Golden Card' program mirrors similar initiatives in countries like Canada, offering a pathway to permanent residency and employment rights in the US.