President Donald Trump recently said that he plans to sell $5 million “gold card” visas to wealthy foreign buyers in exchange for permanent legal residency and a path to citizenship.
The “gold card” would effectively replace EB-5 visas, or investor visas, which were created by Congress in 1990, granting permanent legal residency to individuals who invest around $1 million in a company that employs at least 10 people for the purpose of generating foreign investment.
Commerce Secretary Howard Lutnick said that the “gold cards” would raise the price of admission for investors and minimize the risk of fraud that the Trump administration alleged the EB-5 program poses.
Trump says “Gold Cards” Will Not Require Congressional Approval
The Trump administration has stated that despite Congress traditionally determining the qualifications for permanent residency and U.S. citizenship, the “gold cards” will not require congressional approval.
President Trump did not elaborate on qualifications for job creation, stating that a “gold card” is “somewhat like a green card, but at a higher level of sophistication, it’s a road to citizenship for people, and essentially people of wealth or people of great talent, where people of wealth pay for those people of talent to get in, meaning companies will pay for people to get in and to have long, long term status in the country.”
Contact a Business Immigration Lawyer Today
While the fate of the “gold card” remains uncertain, it is advisable to work with a business immigration lawyer to determine the best course of action for your particular circumstances.
Reeves Immigration Law Group has over 40 years of experience working with employers and employees on business visas, securing the best possible chances of approval. Whether you are looking for temporary employment in the U.S. or hoping to secure a green card, our team of immigration lawyers will be by your side every step of the way.
Contact us today to connect with an immigration attorney to discuss business immigration visas.
