Trump floats $5 million 'gold card' as a route to US citizenship
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1 of 2 People stand on the steps of the U.S. Citizenship and
Immigration Services offices in New York, August 15, 2012. REUTERS/Keith
Bedford/File Photo
[1/2]People
stand on the steps of the U.S. Citizenship and Immigration Services
offices in New York, August 15, 2012. REUTERS/Keith Bedford/File Photo Purchase Licensing Rights WASHINGTON,
Feb 25 (Reuters) - 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.
Trump
added it is possible Russian oligarchs could qualify for the gold
cards, when asked by a journalist if those people would be eligible.
"Yeah, possibly. Hey. I know some Russian oligarchs that are very nice
people," he said.
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.