Washington, D.C.— The Trump administration is set to launch a new visa initiative, the "Gold Card" program, offering U.S. permanent residency to foreign nationals who invest $5 million in the country.
Commerce Secretary Howard Lutnick announced that the official application website, trumpcard.gov, will go live within the week, allowing prospective applicants to register their interest.
Key Facts:
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Investment Requirement: $5 million for U.S. permanent residency
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Website Launch: trumpcard.gov to go live within a week
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Program Goal: Attract substantial foreign investment to boost the U.S. economy
The Gold Card program aims to attract affluent individuals to invest in the U.S. economy, offering them a pathway to permanent residency and, eventually, citizenship.
Lutnick emphasized the program's potential to generate significant revenue, suggesting that if 200,000 individuals participate, it could raise up to $1 trillion, contributing to reducing the national debt.
Interest in the program is already evident, with reports indicating that some Gold Cards have been sold in the Middle East ahead of the website's launch.
This early uptake suggests a strong demand among wealthy foreign nationals seeking U.S. residency options.
However, immigration experts have raised concerns about the program's legality, noting that introducing a new visa category typically requires congressional approval.
The administration appears to be moving forward with the initial registration phase, despite these legal uncertainties.
"These are going to be great people who are going to come and bring businesses and opportunity to America," Lutnick stated, highlighting the administration's belief in the program's potential benefits.
As the trumpcard.gov website prepares to go live, prospective applicants are encouraged to review the program's requirements and consider the investment opportunity.
Further details and application procedures will be available on the website upon its launch.
Do You Know?
The existing EB-5 Immigrant Investor Program requires a minimum investment of $1.05 million (or $800,000 in targeted employment areas) for U.S. permanent residency, significantly less than the Gold Card's $5 million requirement.
Key Terms:
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Gold Card: A proposed U.S. visa program offering permanent residency to foreign nationals who invest $5 million in the country.
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EB-5 Visa: An existing U.S. immigration program granting permanent residency to investors who meet specific investment and job creation criteria.
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Permanent Residency: Legal status allowing a foreign national to live and work in the U.S. indefinitely.
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Pathway to Citizenship: A process through which permanent residents can become U.S. citizens, typically involving residency duration, language proficiency, and civics knowledge.