Yesterday US President Donald Trump announced the ‘Gold Card’ scheme for investors. Under this, outsiders can obtain US citizenship by paying five million US dollars. After unveiling the ‘Gold Card’, Trump said that under this new citizenship initiative, American companies would be able to appoint Indian graduates from American universities.
Trump emphasized that the current immigration system has prevented top international talents from living and working in the US. He said, ‘One person comes from India, China, Japan, many different places, and they go to Harvard, Wharton School of Finance. They are offered a job, but this offer is immediately canceled because you do not know whether the person can live in the country or not.
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Speaking of the results of this policy, Trump admitted that several talented graduates who were forced to leave the US became successful entrepreneurs in their home countries. Emphasizing the missing economic opportunity for the US, he said, ‘They go back to India, or they go back to the country from where they came, and they open a company, and they become a billionaire. They are employing thousands of people.
Trump’s new Gold Card program is being introduced as a premium version of the current Green Card, which provides a long -term residence and a passage of citizenship. This initiative is also being prepared as a way to generate revenue for the American economy. Trump said, “If we sell one million, it is a 5 trillion US dollar.” He suggested that this money can be used to pay national loans.
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The scheme will replace the existing EB-5 visa program, residing to investors who spend at least 1 million US dollars on businesses that provide employment to ten or more people. Trump believes that the gold card will be a game-changer.
The President said, “They will be rich, and they will be successful, and they will spend a lot of money and will pay a lot of taxes and will give employment to many people, and we feel that it is going to be very successful.” Trump’s ‘everything is business’, inspired by the mindset, this program is likely to be implemented by April, in which about 10 million such gold card visas are likely to be available in the beginning.
