US Commerce Secretary Howard Lutnick announced that foreign nationals will soon be able to register for a “gold card” for $5 million within a week. The new visa will provide wealthy individuals a fast-track way to secure US citizenship and permit them to live and work permanently in the United States.
“I expect there will be a website up called ‘Trump card dot gov’ in about a week,” Lutnick said at Axios’ “Building the Future” event in Washington on Wednesday (May 22). “The details of that will come soon after, but people can start to register.”
The commerce secretary added that the information about the new visa program will be shared in the next few weeks.
Lutnick earlier said that the Gold Card would replace the EB-5 visa program. While the Green Card grants people permanent residency in the US, usually through employment, family sponsorship, or investment (via EB-5), the Gold Card offers the same benefits for a whopping $5 million purchase price to help fast-track US citizenship for wealthy applicants.
Lutnick says already ‘selling’ Gold cards
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On Wednesday (May 21), Lutnick suggested that there is strong interest in the new visa program, saying that he was already “selling” the Gold cards on his recent trip to the Middle East.
“Basically, everyone I meet who is not an American is going to want to buy this card if they have the fiscal capacity,” Lutnick said.
He added that this visa can help pay down the US federal debt, which currently sits at a total of over $36 trillion.
“These are going to be great people who are going to come and bring businesses and opportunity to America, and they’re going to pay $5 million,” Lutnick said. “If there are 200,000 people who pay, that’s a trillion dollars. That pays for everything.”
Trump’s Gold card
The Gold card visa program was first announced by US President Donald Trump.
“We’re going to be putting a price on that card of about $5 million and that’s going to give you green card privileges, plus it’s going to be a route to citizenship. And wealthy people will be coming into our country by buying this card,” Trump said in February.
However, law experts have warned that approval from Congress is needed to create a new visa program.
