President Donald Trump has provided an update on the new “Gold Card,” announcing that the visa would go on sale “very, very soon.”
“It’s like the green card, but better and more sophisticated,” Trump said in his joint address to Congress. “And these people will have to pay tax in our country.”
Trump added that it “will allow the most successful job-creating people from all over the world to buy a path to U.S. citizenship.”
Why It Matters
Trump’s proposed “gold card” program would offer U.S. residency to individuals who invest $5 million in the country and serve as a new path toward becoming a U.S. citizen.
This announcement comes after a series of moves by the president aimed at restricting other immigration avenues for those who cannot afford such high costs. Trump has backed work-based visas, especially the H-1B visa, in the past.
The president’s announcement marks the first legal immigration policy of his second term in the White House, targeting exclusively the wealthiest businesspeople worldwide.
What To Know
Trump said at the White House last Tuesday that those who joined the Gold Card program would “be paying a lot of taxes” and creating many jobs, while also mentioning that “they won’t have to pay any tax on income outside of the United States.”
Trump unveiled his proposal to replace the EB-5 immigrant investor visa program with a new “gold card” initiative. This plan would grant U.S. citizenship to foreigners who invest in American businesses.
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