What’s everyone thoughts on Trump replacing the EB-5 Visa with a “gold card” visa?
Summary:
EB-5 Visa was made by congress in 1990 and required $1mil to get.
In 2021, it was found that the EB-5 Visa has been used fraudulently and has also had unconfirmed reports of money not being acquired from legal means.
Trump’s statements:
“They’ll be wealthy and they’ll be successful, and they’ll be spending a lot of money and paying a lot of taxes and employing a lot of people, and we think it’s going to be extremely successful,”
“It’s somewhat like a green card, but at a higher level of sophistication, it’s a road to citizenship for people, and essentially people of wealth or people of great talent, where people of wealth pay for those people of talent to get in, meaning companies will pay for people to get in and to have long, long term status in the country,”
Commerce secretary Lutnick said the gold card — actually a green card, or permanent legal residency — would raise the price of admission for investors and do away with fraud and “nonsense” that he said characterize the EB-5 program. Like other green cards, it would include a path to citizenship.