You will have to pay 5 million dollars for American citizenship, know about Trump new Gold Card scheme: US President Donald Trump announced a new Gold Card scheme to get American citizenship for immigrants. 5 million dollars will have to be spent for this. This Gold Card will be a premium version of the Green Card and will not only give special rights of the Green Card, but will also give rich immigrants an opportunity to invest in America and get citizenship.
Will open a new path to citizenship
While signing executive orders with Commerce Secretary Howard Lutnick in the Oval Office, Trump said, this will give you special rights like a Green Card. He further said, "This will open a new path to citizenship. Rich people will buy the card and come to America, invest here and create jobs.
Start of the program and legal status
Trump announced that this program will start in the next 2 weeks. He also said that his administration does not need any kind of approval from Congress. However, it is not yet clear how this plan will be implemented.
Possibly an option for the EB-5 program
Commerce Secretary Lutnick suggested that the new 'Gold Card' scheme could replace the existing EB-5 program, which allows immigrant investors to get green cards by investing in American businesses. In exchange for the 'Gold Card', the money will go directly to the US government, which will make it easier.
You will get it by paying 5 million dollars
President Trump said, "We are going to end the EB-5 program and replace it with the Trump Gold Card. Under this plan, immigrants can avoid the scrutiny process from the US government by paying $5 million to ensure they are world-class citizens.
Impact of the plan on the US economy
Trump said that the money raised through the Gold Card plan will be used to reduce the US financial deficit. "They can invest in America and we can use that money to reduce our deficit