Washington: US President Donald Trump on Tuesday posted the idea of replacing a visa program for foreign investors with a so -called “golden card” that could be purchased for $ 5 million as a route to US citizenship.
Trump told reporters that he would replace the “EB-5” immigrant investors program, which allows foreign investors of large sums of money that create or maintain US jobs to become permanent residents, with a so-called “golden card”.
The EB-5 program grants “green cards” to foreigners promising to invest in US businesses.
“We will sell a golden card,” Trump said. “We will put a price on this card of about $ 5 million,” he added.
“It will give you green card privileges and be a journey to (American) citizenship and rich people will come to our country by buying this card,” Trump said, adding that the details of the plan will come out in two weeks.
Trump added that it is possible that Russian oligarchs could qualify for gold cards when asked by a journalist if these people would be eligible. “Yes, possibly.
The EB-5 immigrant investors program, which is governed by American citizenship and immigration services, was created by Congress in 1990 to “stimulate the US economy through job creation and capital investment by foreign investors”, according to the USCIS website.
“The EB-5 program … It was full of nonsense, to believe and fraud, and it was a way to get a green card that was a low price.
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