The U.S. Golden Card Visa is designed to attract high-net-worth investors at a $5 million fee by providing residency and faster citizenship. Designed to replace the EB-5 program, it simplifies the application process while increasing government revenue. The proposal sparked debate on immigration accessibility and economic impacts.
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Amid a major policy re-alignment for U.S. immigration, President Donald Trump has launched the idea of a “gold card”, a new residence visa designed to attract wealthy foreign investors. The plan will replace the current EB-5 immigration investor program, which has been criticized for waste and abuse. The gold medal provides a massive $5 million investment in U.S. citizenship, which is a deviation from the regular green card route.
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What is a gold card?
The gold medal is an elite residence visa that enables high net worth individuals to obtain permanent residence and ultimate citizenship in the United States. Contrary to the EB-5 program, the EB-5 program requires investment in specific business businesses that create or maintain jobs, and Gold simplifies the process by eliminating such requirements. Instead, individuals paid $5 million in a one-time fee to the U.S. government, simplifying the way they live and citizenship.
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Key features of gold cards
Investment requirements: The gold card requires $5 million in investment, which is much higher than the EB-5 program’s requirements in the target employment sector.
Residence Privileges: Holders have privileges comparable to those of green card holders, such as the right to live and work in the United States
Paths to Citizenship: Despite the details to be completed, the gold medal provides a pathway for U.S. citizenship, even faster than the standard choice.
The reason behind the gold card
The launch of the gold card is a measure to reform and simplify the immigration process for wealthy investors. The EB-5 program has been criticized for its inefficiency and abuse. By increasing investment minimums and making the process of apps easier, the government wants to attract top investors and curb possible abuse.
Economic Impact
President Trump believes that the gold card program can bring considerable income to the United States and help reduce national debt. The plan involves the sale of one million gold medals, which could attract a large amount of financial donations from wealthy people around the world. These investments are expected to stimulate economic growth, create jobs and enhance tax revenue.
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Compare with green card
While both gold and green cards offer permanent residence in the United States, they have fundamental differences in the acquisition process:
|
feature |
Green Card |
Gold card |
|
Cost and process |
Multi-step application process; sponsorship or self-send. |
Buy directly $5 million. |
|
Historical background |
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The novel concept aims to modernize immigration to wealthy investors. |
|
Investment threshold |
$1.05 million for EB-5 (target area of $800,000). |
Need $5 million in investment. |
|
Application process |
Strict, involving background checks and employment creation certificates. |
It is expected to be simpler, focusing on financial contributions and reviews. |
Gold medals embody a fresh, simplified process for U.S. residence and citizenship, focusing on preparing to pay for pre-contributed high net worth individuals. While faster than the traditional green card pathway, it has also sparked debate on accessibility and fairness in immigration policies. The way the program is launched and further details about its components will be subject to interest in its future impact on U.S. immigration and economic policies.
Source: https://dinhtienhoang.edu.vn
Category: Optical Illusion