During the majority of Washington, DC, the news was distracted on Tuesday that the Trump White House – would snap for air! -Overlook which media are invited to the press pool instead of having a group of left -handed hacks. The president made some news that seemed largely to fly under the radar: his administration will soon “provide” a “available” available “a” available “” provides “a” available “. “Gold card“Visa with which wealthy foreigners can” acquire “an American citizenship.
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President Trump and Minister of Commerce Howard Lutnick made the announcement when signing the executive order for the obligation to sign the executive in the Oval Office. The gold card could replace the current EB-5 program, the Lutnick called “Full of nonsense, understanding and fraud.”
The United States currently offers a similar opportunity in the EB-5 immigrant investor program, which was founded in 1990 and is managed by the US citizenship and immigration services (USCIS). According to the USCIS website, the visa is open to investors to “make the necessary investments in a commercial company in the USA” and “plan to create or maintain 10 permanent full-time jobs for qualified US workers”.
But Trump’s latest proposal would replace the EB-5 program, and instead the Republican President plans to suggest a “Gold Card” visa of $ 5 million.
Lutnick added:
It was a way to get a green card that was a low price. So the president said instead of having this kind of ridiculous EB-5 program, we will end the EB-5 program. We will replace it with the Trump Gold Card.
The topic performed again on Wednesday during the first cabinet seat of the modern Trump administration. In response to a question that a pool reporter asks whether the modern gold card program reflects the feeling of the president that the American immigration system “was never properly monetized,” replied Trump:
Well not so much monetized. It wasn’t going properly.
I get calls from companies where you want to hire the number one student in a school – one person comes from India, China, Japan. They go to Harvard, the Wharton School of Finance, they go to Yale, they go to all these great schools and they have the end in their class. And they are made as job offers, but the offers are canceled immediately because they have no idea whether this person can stay in the country or not. I want to be able to stay in the country. These companies can buy a gold card and apply them as recruitment.
At the same time, the company uses this money to pay off the debts. We approach, we will pay a lot of debts with it.
Lutnick, who was sitting two places at the table on the left of the President, added an additional context to the program:
The EB5 program that has been around for many years had investments of [one] Millions of dollars in projects in America. And these projects were often suspected, they didn’t really work, there was no control over it. And so you have come to the country for a million dollar investment and then have a green card.
It was badly monitored, poorly executed.
Then they opened our border, where millions of people came through. So the idea is that we will have a proper business. We will change the EB5 agreement. [Secretary of Homeland Security] Kristi [Noem] And I work on it. You will receive a license from the Ministry of Commerce for 5 million US dollars. Then you will make an appropriate investment in the EB5.
Further information on this modern gold card visa will be expected in the coming weeks.
