Donald Trump Plans to Sell Gold Cards to Millionaires for US Residency
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Politics
February 26, 2025 09:09
- President Trump intends to issue Gold Cards to millionaires for permanent residency in the US, aiming to generate billions in revenue.
Trump's Gold Card Plan
President Trump announced his plan to sell Gold Cards to millionaires for $5 million each, granting them permanent residency in the US. Trump believes this initiative will attract wealthy individuals who will contribute to the economy through spending, taxes, and job creation.
Among the potential beneficiaries are Russian oligarchs affected by international sanctions due to Putin's actions in Ukraine. Trump mentioned that some oligarchs could qualify for the Gold Card program, potentially relocating to California.
Newsweek reports that Trump aims to issue up to ten million Gold Cards, expecting to generate at least $5 trillion in revenue. This influx of funds could address significant financial challenges faced by the country.
Trump plans to replace the existing Immigrant Investor Program (EB-5) with the Gold Card scheme. The EB-5 program requires a $1 million investment and job creation for ten individuals, with stringent regulations to prevent fraud.
Unlike the EB-5 program overseen by Congress, Trump's Gold Card scheme would bypass traditional legislative oversight. The Gold Card initiative is expected to streamline the residency application process, with Trump expressing confidence in its implementation within two weeks.