United States President Donald Trump recently announced a special visa known as the "Gold Card" that aims to pay the national debt by taking advantage of rich immigrants.
The special visa offers citizenship to foreigners who are willing to come to the country and invest in it, which would also create job opportunities for Americans. The U.S. currently has a similar visa, known as the EB-5 Immigrant Investor Program, which was established in 1990.
Donald Trump's Gold Card Special Visa
This particular visa is said to be open to individuals who "make the necessary investment in a commercial enterprise in the United States." It also details plans to create or preserve 10 permanent full-time jobs for qualified U.S. workers.
Under the EB-5 Program, foreigners receive Green Cards if they invest at least $800,000 in Targeted Employment Areas (TEAs) or $1.8 million elsewhere. Trump plans to replace this program with the Gold Card special visa, which charges investors $5 million directly, according to the Deccan Herald.
The special visa announcement was made in the Oval Office while Trump was signing executive orders. Commerce Secretary Howard Lutnick said they plan to end the EB-5 Program, which he called "ridiculous."
Read more: Trump Signs Order Ending Birthright Citizenship. How Does It Affect Americans and Immigrants?
Trump plans to sell Gold Cards to rich immigrants, and he believes that he can sell a million of the special visas. The plan could have significant impacts on individuals and families who are trying to stay in the U.S. legally as immigrants.
In sharing the plan for the Gold Card special visa, Trump said it would give investors green card privileges in the United States and be a route to citizenship. He claimed that wealthy individuals would be able to come into the country if they buy the card, CN Traveler reported.
What Do Immigrants Need To Get One?
Lutnick added that applicants for the special visa will be vetted to make sure that they are "wonderful world-class global citizens." This puts regular, working-class immigrant families at risk of not having a legal way to enter the United States.
This is because the Trump administration has released several immigration-related executive orders, including "enhanced vetting" of visa applicants and restrictions on birthright citizenship. These are in addition to various security measures, such as blocking asylum seekers at the southern border.
While the Trump administration's Gold Card plan is similar to the EB-5 Program, it would primarily cater to the wealthy. Immigrant families who do not have the funds to pay the $5 million purchase price will have to find other ways of getting U.S. citizenship, as per NDTV.
