US President Donald Trump announced a new 'gold card' visa on Tuesday. Trump said he would pave the way for American citizenship for $ 5 million (Rs 43,56,16,720.00 crore) under a gold card visa. According to him, gold card visa will replace the long-running EB-5 investor visa.
Trump said at the Oval Office. Those who take a gold card visa will be rich and successful. They will spend a lot of money and pay a lot of tax. In addition, they will also employ people. Trump said that we think he is going to be very successful.
Commerce Secretary Howard Lutnik has confirmed that 'Trump Gold Card Visa' will change the 35-year-old EB-5 program in two weeks. EB-5 visas established by Congress in 1990 provide accommodation to investors who spend an estimated $ 1 million on a business creating at least 10 jobs.
“The gold card will actually increase the entry costs for investors, the gold card, or a permanent legal resident, said,” Howard Luteinic said. According to Howard Luteinic, it will also eliminate fraud and create a way of citizenship like other green cards.
According to the recent immigration data of the Department of Homeland Security, about 8,000 people have received investor visas in the 12 months ending September 30, 2022. The 2021 Congressional Research Service Report warns about the risks of fraud in the EB-5 program, including concerns about the investigation of the legal source of investment funds.
Investor visa programs exist in countries around the world. Consultancy firm Henley and Partners told AP that more than 100 countries, including the US, Britain, Spain, Greece, Malta, Australia, Canada and Italy, offer 'Golden Visa' to wealthy applicants.
Trump did not mention job requirements for his proposed 'Gold Card' visa. Unlike the caped EB-5 program, he has begun to sell 10 million visas to help reduce federal deficit. He said he was somewhat like a green card. This is a way of citizenship for people and it will essentially allow wealthy people or people with great talent to enter the United States.
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