Trump Unveils 'Gold Card' Initiative for Wealthy Foreigners

US President Donald Trump has introduced the 'gold card' initiative that allows wealthy foreigners to live and work in the US for a USD 5 million fee, offering a potential path to citizenship. This initiative aims to help American companies employ international graduates from top US universities.

US President Donald Trump has announced a new 'gold card' initiative aimed at allowing wealthy foreigners to reside and work in the United States. The program, unveiled on Wednesday, offers the opportunity for permanent residency and a path to citizenship in exchange for a USD 5 million investment.

The newly proposed initiative seeks to address challenges within the current immigration system, which Trump claims has obstructed top international talent, particularly from countries such as India, China, and Japan. The administration aims to prevent talented graduates from having to leave the US by providing a means for American companies to employ them.

The 'gold card' will serve as a replacement for the existing EB-5 immigrant investor visa program. Trump stated that card sales will commence in two weeks, estimating that millions could be sold. Revenue from the initiative is intended to aid in reducing the national debt.