Trump's new 'Golden Card' plan: Those who pay 5 million dollars get citizenship
US President Donald Trump has announced that the EB-5 visa, which provides residency rights through investment, will be abolished and replaced by a higher-cost "Golden Card" system. Under the new system, foreigners who invest 5 million dollars will be granted a path to permanent residency and citizenship in the US.
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US President Donald Trump, who has remained in the spotlight with his statements and decisions since taking office, announced that a new regulation for investor visas is being developed. It was stated that the new system, which aims to attract foreign investors and capital to the US, will be introduced under the name "Golden Card".
While it was announced that the currently active EB-5 visa, which provides investors with a green card, will be shelved, it was stated that a new, higher-cost residency program will be introduced in its place. Although Trump did not provide a specific date for the details of the new system, he stated that the plan would be announced within two weeks.
5 MILLION DOLLAR INVESTMENT REQUIREMENT FOR GOLDEN CARD
In his statement regarding the operation of the new system, Trump said that a price would be set for the "Golden Card" and that it would be approximately 5 million dollars. It was emphasized that under this program, foreign investors would be granted the opportunity for permanent residency in the US and a path to citizenship.
Trump stated, "Those who hold this card will enjoy green card privileges and will be able to move on a path toward US citizenship. Wealthy investors will come to our country by obtaining this card."
RUSSIAN OLIGARCHS ALSO INCLUDED
When asked by a journalist at a press conference, "Will Russian oligarchs also be able to benefit from this program?", Trump replied, "Yes, probably. I know some Russian oligarchs who are very good people."
US Secretary of Commerce Howard Lutnick also made assessments on the subject, arguing that the current EB-5 program paved the way for various forms of corruption. "The EB-5 program was complete nonsense, a fabrication, and full of fraud. The President has decided to terminate this program and is replacing it with the Golden Card system," he said.
According to information on the US Citizenship and Immigration Services (USCIS) website, the EB-5 program, which went into effect in 1990, aimed for foreign investors to create jobs through capital investment and thus contribute to the US economy. However, it was reported that with the new regulation, this system will be abolished and replaced by a new model requiring a higher investment amount.