U.S. President Donald Trump on Tuesday floated the idea of replacing a visa program for foreign investors with a so-called “gold card” that could be bought for $5 million as a route to American citizenship.
Trump 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 U.S. jobs to become permanent residents, with a so-called “gold card.”
The EB-5 program grants “green cards” to foreigners promising to invest in U.S. businesses.
“We are going to be selling a gold card,” Trump said. “We are going to be putting a price on that card of about $5 million,” he added.
“It’s going to give you green card privileges plus its going to be a route to (American) citizenship, and wealthy people would be coming into our country by buying this card,” Trump said, adding that details about the scheme will come out in two weeks.
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