United States President Donald Trump has announced a new immigration plan called the 'Gold Card' program. This will be a premium version of the Green Card, offering wealthy investors expedited access to American citizenship. However, applicants will be required to invest $5 million (approximately ₹43.5 crore). The Trump administration aims to issue one million (10 lakh) Gold Cards through this initiative.
Washington: US President Donald Trump announced a new 'Gold Card' program that will grant American citizenship to foreign nationals investing $5 million (approximately ₹43.5 crore). This 'Gold Card' will be a premium version of the existing Green Card, offering not only the benefits of a Green Card but also a direct pathway to American citizenship.
The program aims to attract wealthy investors, stimulating significant investment and job creation in the American economy. Commerce Secretary Howard Lutnick stated that this initiative would also help reduce the national deficit.
What is the 'Gold Card' program?
The Gold Card differs significantly from the Green Card. Foreign nationals purchasing this will not only obtain permanent residency in the US but also gain access to enhanced investment opportunities and an accelerated path to citizenship. Under this plan, wealthy investors will have a direct route to American citizenship, enabling them to create new business opportunities and employment in the United States.
President Trump clarified the program's objective, stating, "We want to invite the world's wealthiest and most talented individuals to America. The Gold Card is a premium offering, even more powerful than the Green Card."
EB-5 Program termed 'fraudulent'
Another major reason for introducing the Gold Card program is the termination of the EB-5 visa program. Commerce Secretary Howard Lutnick stated, "The EB-5 program was riddled with corruption and fraud. It was a cheap way to obtain a Green Card, and it's now being shut down." When asked if wealthy Russians would also benefit from this plan, Trump replied, "Absolutely, we will welcome wealthy and qualified individuals from all over the world."
Will this plan receive the green light?
The Trump administration aims to increase Foreign Direct Investment (FDI) in America through this plan, but opposing parties have criticized it as a scheme for the wealthy to buy citizenship. It will be interesting to observe whether this plan will be implemented or remain merely an electoral strategy.
