Foreign nationals with deep pockets will soon be able to apply for a new gold card visa allowing permanent residence and work rights in the United States, Commerce Secretary Howard Lutnick announced Wednesday.<\/p>\n
Speaking at Axios\u2019 Building the Future\u201d event in Washington, DC, Lutnick said a website trumpcard.gov is expected to launch within the week, allowing interested applicants to begin registering for the visa, which requires a $5 million investment.<\/p>\n
The details of that will come soon after, but people can start to register, Lutnick said, noting that there\u2019s already significant global interest in the program.<\/p>\n
First introduced by President Donald Trump in February, the gold card is being positioned as a replacement for the existing EB-5 investor visa, which grants green cards to immigrants who invest $900,000 to $1.8 million in the U.S., depending on the area. The new program dramatically raises the investment threshold.<\/p>\n
We\u2019re putting a price on that card of about $5 million, Trump said earlier this year from the Oval Office. That\u2019s going to give you green card privileges, plus it\u2019s going to be a route to citizenship.<\/p>\n
Lutnick echoed those claims, saying the program could generate vast revenue for the U.S. economy. \u201cThese are going to be great people who are going to come and bring businesses and opportunity to America, he said. \u201cIf there are 200,000 people who pay, that\u2019s a trillion dollars. That pays for everything.<\/p>\n
The secretary also mentioned that he had already begun promoting the program abroad. \u201cBasically, everyone I meet who is not an American is going to want to buy this card if they have the fiscal capacity,\u201d he said, referencing a recent trip to the Middle East.<\/p>\n
However, immigration law experts have raised red flags. They warn that creating a new immigration visa category requires congressional approval, and it\u2019s unclear how the administration plans to implement the program without legislative backing.<\/p>\n
Still, the Trump administration is pressing forward, pitching the visa not just as a pathway to citizenship but also as a strategic tool to reduce the ballooning U.S. federal debt, which now exceeds $36 trillion.<\/p>\n
While some critics argue that the program commodifies U.S. residency and privileges the wealthy, supporters claim it will attract high net-worth individuals who can contribute to innovation, job creation, and economic growth.<\/p>\n
More detailed information, including eligibility criteria and legal structure, is expected to follow when trumpcard.gov goes live next week<\/p>\n","protected":false},"excerpt":{"rendered":"
Foreign nationals with deep pockets will soon be able to apply for a new gold card visa allowing permanent residence and work rights in the United States, Commerce Secretary Howard Lutnick announced Wednesday. Speaking at Axios\u2019 Building the Future\u201d event in Washington, DC, Lutnick said a website trumpcard.gov is expected to launch within the week, […]<\/p>\n","protected":false},"author":1,"featured_media":7160,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[503,557,430],"class_list":{"0":"post-7159","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-international","8":"tag-donald-trump","9":"tag-lutnick","10":"tag-usa"},"yoast_head":"\n