Trump wants to use $5 million ‘gold cards’ to replace foreign investor visas

Trump proposes creating a type of green card program for wealthy foreign investors that would give them permanent residency and a pathway to citizenship for $5 million.

President Donald Trump said he wants to replace a long-standing visa program for foreign investors with a "gold card" that would provide them legal permanent residency and a path to citizenship for $5 million.

Trump first floated the idea during an impromptu question-and-answer session at the Oval Office on Tuesday as he signed a series of executive orders.

"Wealthy people will be coming into our country by buying this card," he said. "They’ll be successful, and they’ll be spending a lot of money... We think it’s going to be extremely successful.”

Commerce Secretary Howard Lutnick, who was with Trump at the Oval Office, said the "Trump gold card" would replace the immigrant investor program. The EB-5 visa provides foreign nationals who invest in projects that create or sustain U.S. jobs with legal permanent residency and a path to citizenship.

"You have a green card. This is a gold card. We’re going to be putting a price on that card of about $5 million and that’s going to give you green card privileges," Trump said. Green cards, or lawful permanent resident cards, allow eligible immigrants to live and work permanently in the United States.

https://www.nbcnews.com/news/latino/trump-gold-cards-visas-foreign-investors-rcna193811

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