Trump's $5 Million 'Golden Card' Plan to Replace Investment Visa

On Tuesday, Donald Trump, the President of the United States, proposed replacing the visa program for foreign investors with a 'Golden Card' that can be obtained by paying $5 million as a pathway to American citizenship. Trump told reporters that the immigrant investor visa program 'EB-5', which allowed foreign investors to obtain permanent residency in the United States through significant investment or entrepreneurship, would be replaced by the 'Golden Card' plan. Under the immigrant investor visa program, immigrants who invest in the U.S. are granted a 'Green Card'. The U.S. President stated that the United States would sell this 'Golden Card' to applicants for $5 million. He also mentioned that this card has the benefits of a Green Card, creates a pathway for obtaining American citizenship, and wealthy individuals can enter the United States by purchasing it. The immigrant investor program 'EB-5', which is administered by the U.S. Citizenship and Immigration Services, was established by the U.S. Congress in 1990 with the aim of helping the U.S. economy through entrepreneurship and attracting foreign investors' capital. Harvard Lichtenstein, the U.S. Secretary of Commerce, told reporters on Tuesday that the immigrant investor program had many flaws, was associated with fraud, and had a low cost. He added that the U.S. President wants to replace this 'ridiculous' program with the Golden Card. Trump told reporters that the U.S. could sell over a million Golden Cards, and successful and wealthy individuals entering the United States would help the U.S. economy by paying taxes and creating entrepreneurship.