President Trump has announced a new immigration policy, introducing a $5 million "Golden Card" to replace the current EB-5 investor visa program. This policy aims to attract wealthy individuals worldwide by offering permanent residency in the United States through a $5 million investment, paving the way for U.S. citizenship. Trump compared the "Golden Card" to an upgraded version of the "Green Card" and emphasized that the plan will help boost the U.S. economy.
The Trump administration also hopes to address the U.S. fiscal deficit through the "Golden Card" project, particularly considering the national debt exceeding $36 trillion. Before a cabinet meeting this Wednesday, Trump stated that selling 10 million "Golden Cards" would be sufficient to pay off the U.S. debt.
The existing EB-5 investor program requires potential investors to invest $1 million in the U.S. (or $500,000 in high-unemployment areas) and create at least 10 jobs to receive a two-year temporary Green Card. Trump's "Golden Card" plan requires an investment amount five times that of the EB-5 visa, totaling $5 million.
The "Golden Card" plan sparked widespread criticism upon its announcement. Opponents argue that it violates the principles of diversity and fairness in immigration policies, risks over-commercializing immigration qualifications, and could lead to lax scrutiny of applicants, potentially introducing individuals who do not align with U.S. interests.
However, U.S. Secretary of Commerce Howard Lutnick defended the plan, calling it an effective way to alleviate fiscal pressure by attracting foreign investment. Lutnick stated that 250,000 people are already waiting to purchase a "Golden Card." He estimated that if each applicant paid $5 million, this initiative could raise over $1 trillion.
Lutnick further remarked that these investors would bring more employment and business opportunities to the U.S. and contribute to the economy by paying taxes as required. He emphasized that all "Golden Card" applicants would undergo a thorough background check to ensure they meet U.S. interests.
He also criticized the existing EB-5 visa program for fraud issues, describing it as "a low-cost way to obtain a Green Card." In his view, the new "Golden Card" initiative not only brings economic benefits but also attracts globally entrepreneurial investors, driving U.S. economic growth.
