Related News

Prakash Singh | AFP | Getty Images Google will invest $10 billion into building new data centers in southern India, according to local officials, marking one of its largest investments

Starship test flight launch SpaceX conducted another test flight of its massive Starship rocket on Monday, successfully completing half a global journey while deploying mock satellites as in the previous

Quantum computing background concept. Blackdovfx | E+ | Getty Images The rally in quantum computing names continued on Monday after JPMorgan Chase announced it as one of the areas it

A SK Hynix Inc. 12-layer HBM3E memory chip displayed at the Semiconductor Exhibition in Seoul, South Korea. Bloomberg | Bloomberg | Getty Images Chip stocks bounced on Monday, clawing back

Jaque Silva | Nurphoto | Getty Images Charlie Kawwas, president of the semiconductor solutions group at Broadcom, on Monday suggested that OpenAI is not the mystery $10 billion customer that

Isro opens XPoSat observatory to Indian scientists BENGALURU: Isro on Monday announced the first Announcement of Opportunity (AO) cycle for its X-ray Polarimeter Satellite (XPoSat), inviting Indian scientists and researchers

Trending News

In today’s digital age, the opportunity to make money online without any initial investment is more accessible than ever before. Whether you’re a student looking to earn some pocket money,

In today’s digital world, make money online has become a dream many want to turn into reality. Whether you’re looking for a side hustle or aiming to build a full-time

JSW Cement, the building materials arm of Sajjan Jindal-led JSW Group, has reduced the size of its upcoming initial public offering (IPO) to Rs 3,600 crore and will open the

The agricultural Gross Value Added (GVA) growth is expected to moderate to 4.5% in the first quarter of FY26, down from 5.4% in the preceding quarter, according to a report

Foreign portfolio investors (FPIs) turned net sellers in the Indian equity market in July, pulling out Rs 17,741 crore amid rising global trade tensions. According to data from NSDL, this

Avenue Capital Group-backed Asset Reconstruction Company (India) Ltd (ARCIL) has filed its draft red herring prospectus (DRHP) with markets regulator Sebi on Friday to raise funds through an initial public

Trump’s “Gold Cards” Offer For Rich Migrants

Word Count: 340 | Estimated Reading Time: 2 minutes




Washington, DC:

US President Donald Trump is planning to make it easier for rich immigrants to get American citizenship via so-called “gold cards” that could be bought for $5 million. The American President said these “gold cards” would convey green-card residency status and a path to American citizenship to foreigners and predicted that one million cards would be sold.

According to Mr Trump, the initiative could quickly pay down the national debt. He told reporters he will replace the “EB-5” immigrant investor visa program, which allows foreign investors of large sums of money that create or preserve US jobs to become permanent residents, with a “gold card.”

The EB-5 program grants “green cards” to foreigners promising to invest in US businesses.

“We are going to be selling a gold card…We are going to be putting a price on that card of about $5 million,” Mr Trump said. 

“It’s going to give you green card privileges plus it’s going to be a route to (American) citizenship, and wealthy people would be coming into our country by buying this card,” he added.

President said that more details about the scheme would come out in two weeks. When asked by a journalist if Russians would be eligible for the scheme, he said it is possible Russian oligarchs could qualify. “Yeah, possibly. Hey. I know some Russian oligarchs that are very nice people,” he said.

About EB-5 Immigrant Investor Program

The EB-5 Immigrant Investor Program, administered by the U.S. Citizenship and Immigration Services, was created by Congress in 1990 to “stimulate the U.S. economy through job creation and capital investment by foreign investors,” according to the USCIS website.

“The EB-5 program … it was full of nonsense, make-believe and fraud, and it was a way to get a green card that was low price. So the president said, rather than having this sort of ridiculous EB-5 program, we’re going to end the EB-5 program. We’re going to replace it with the Trump gold card,” Commerce Secretary Howard Lutnick told reporters on Tuesday.




Source link

Most Popular Articles