US President Donald Trump has proposed the idea of changing the visa program for foreign investors for a “Golden Card,” which foreigners will be able to buy for $5 million, opening up an easy way to USA citizenship.
USA plan to change the EB-5 visa program for immigrant investors for “Golden Cards.” The EB-5 program was created in 1990 with the goal of stimulating the US economy by creating jobs and investment by foreign investors.
Journalists asked Trump if Russian oligarchs could buy “Golden Cards,” he replied that yes, it is possible and that he knows some of them personally and they are very good people.
US Secretary of Commerce Howard Lutnick said that “the EB-5 program was a way to get a Green Card at a low price.”
About 1 million “Golden Cards” may be issued.
The main conditions for obtaining a “Golden Card”:
- A foreigner must invest $5 million in projects in the United States
- You must prove the legal origin of the funds
- Pass a background check
The United States will provide the holder of the “Golden Card” all rights of Green Card holders and the right to quickly obtain US citizenship, but the timing of obtaining citizenship under this program has not yet been announced.
It is still unknown when the new “Golden Card” program will be launched. Although Trump said that this could happen within two weeks. But the power to create new visa categories belongs to Congress, so this process can not be so quick. Congress will have to draft a new law, pass it and send it to Trump for approval.
In this regard, I recommend that those who wishing to become investors in the United States hurry up and schedule a consultation with a lawyer regarding the EB-5 visa program as soon as possible, while it is still in effect and has not been canceled. This is one of the my main specializations, I am immigration lawyer Irina Lust with 16 years of experience. You may chedule the first consultation using the form below: