What is Gold Card Scheme for US Citizenship: The US has announced the launch of a new ‘Gold Card’ investor visa programme, replacing the existing EB-5 visa for wealthy immigrants.
If you are dreaming of living in America, then there is good news for you. US President Donald Trump has come up with a special visa scheme. He has named it “Trump Gold Card”. Under this visa scheme, one has to invest 5 million dollars i.e. Rs 43,55,00,237 in America. The aim of this initiative is to replace the 35-year-old EB-5 visa program, which has been in place since 1990 to encourage foreign investment in the United States.
Now you will have to invest more than before
The current EB-5 visa requires foreign investors to invest about $1 million in a business that creates at least 10 jobs. However, Commerce Secretary Howard Lutnick explained that the new program would increase the investment requirement as well as reduce fraud and bureaucratic inefficiencies associated with EB-5. Trump emphasized the economic benefits of the proposed program, saying it would attract wealthy and successful individuals who would spend significant sums of money, pay higher taxes, and create jobs. He also estimated that if the federal government issued 10 million of these visas, it could significantly reduce the national deficit.
Countries around the world adopt this policy
Investor visas are widely used around the world. More than 100 countries, including the U.K., Canada, Australia and many European countries, offer “golden visas” to attract wealthy individuals. The U.S. has historically limited the number of EB-5 visas, but Trump’s proposal suggests a more expansive approach. Unlike the EB-5 program, Trump’s “gold card” proposal does not mention any specific job creation requirement. This raises concerns about how the new visa will contribute to employment in the U.S., a key component of the EB-5 program.
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