President Trump's proposal for a 'gold card' aims to attract wealthy investors to the U.S. by offering a citizenship path for a $5 million investment. This initiative intends to replace the EB-5 visa system, which has faced scrutiny over fraud. While Trump and Commerce Secretary Howard Lutnick argue that the card will eliminate existing issues and raise investment quality, details on vetting standards for applicants remain vague. The proposal comes amid a global trend where numerous countries offer similar 'golden visas' to affluent individuals.
The proposed 'Trump Gold Card' would replace the existing EB-5 visa, promising a path to citizenship for wealthy applicants willing to invest $5 million.
Trump envisions the card attracting successful individuals who will contribute economically, insisting that this change could be extremely beneficial to the US.
Commerce Secretary Lutnick claims the gold card will improve investor immigration by raising standards and eliminating fraud associated with the current system.
The lack of detailed vetting processes raises concerns, as Lutnick mentioned applicants would be checked for global citizenship quality without specifying benchmarks.
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