Trump’s $5 Million ‘Gold Card’ Visa Explained

• The “Gold Card” visa program will be launched to allow US residency and a path to US citizenship for a $5 million investment. Mr. Trump is doing this to attract rich people and reduce the national debt.
• The EB-5 visa scheme will be terminated, and so will any job-creation requirements. The rendering of citizenship as something between property and identities, especially under its specific advantages and implications, has been argued forth.

To stun the gaze of international audiences, it was with open-mouthed amazement that they heard President Donald Trump‘s announcement of the Gold Card visa, with which the elite can enjoy quick passage to legal residency or citizenship in the United States—in return for a fee of $5 million. This program simply represents a ploy to finance major income toward reducing the country’s debt.

New Highway Open for the Affluent

During his Rose Garden remarks, the sitting American president presented the Gold Card from a different perspective than the traditional green card. Commerce Secretary Howard Lutnick explains that it has been to woo “world-class global citizens” with easy processes now that job-creation requirements, as seen with the previous EB-5, have been removed.

Financial Benefit

So, let’s suppose that 200,000 of these visas are being sold. The estimated value of an additional 200,000 would be $1 trillion, while this would jump to $5 trillion for a million applicants submitting applications. These large sums would significantly pay off the national debt. “It’s going to sell like crazy; it’s a market,” said President Trump on the program’s predicted success. 

The Global Picture

Gold Card initiatives are almost similar to schemes available under the name of “golden visa” in countries like the UK, Spain, Canada, and Australia, where residency or citizenship can be purchased against a meeting of a sizable investment. Nevertheless, critics believe that these programs de facto allow the sale of citizenship while the rich might escape the usual immigration routes they would otherwise have to follow. In addition, much fear emerges out of worry that such visas would attract some bad apples who would try to misuse them by circumventing the financial and legal systems.

A New Paradigm in Immigration

The Gold Card visa program is seen as a marked departure from America’s fondness for immigration. Immigration policy in which wealth presently sits at the fore of the eligibility criteria. From its inception onwards, the program will likely make for charged debate over the ethicalities of selling citizenship, the economic benefits from the program, and what it will say about America’s values as shown in immigration.