Donald Trump announced the launch of the Golden Card program. It will allow foreigners who have invested $5 million in the government to obtain a residence permit and, in the future, U.S. citizenship.
This scheme will replace the current EB-5 immigration program. According to its terms, foreigners and their immediate relatives can apply for permanent residence by investing a certain amount in an American business (from 800,000 to 1 050 000 dollars) or by creating at least 10 jobs in the United States.
Applicants for a "gold card" will have to undergo a security check that will convince the authorities that they are "wonderful citizens of the world," Trump said.
The funds raised are planned to be used to reduce the budget deficit, the president noted.
The program will start operating in two weeks. According to Trump, its introduction does not require congressional approval.
Source: Bloomberg
