Trump unveils $5m 'golden residency' cards targeting elites
Donald Trump has announced a new program for the sale of "golden residency cards" in the USA for $5 million, targeting, among others, Russian oligarchs. The program aims to help reduce the budget deficit.
President Donald Trump introduced a new program that will allow the purchase "golden residency cards" in the United States for $5 million. This program is intended to replace the current EB-5 investment visa, which requires an investment of one million dollars and the creation of 10 jobs.
Commerce Secretary Howard Lutnick explained that "golden cards" will function similarly to "green cards," allowing for permanent settlement and the potential acquisition of citizenship. The condition for receiving the card will be a payment of $5 million to the state, which is intended to help reduce the budget deficit. Lutnick emphasized that applicants will be thoroughly screened to ensure they are "wonderful global citizens of world-class caliber." During the program's announcement, Trump suggested that Russian oligarchs might take advantage of the offer.
Possibly. I know some Russian oligarchs that are very nice people. It's possible," Trump said. "They're not as wealthy as they used to be. I think they can. I think they can afford $5 million, said the president.
"Golden cards" coming soon
The "golden residency cards" program is expected to be available in just two weeks, although it is unclear whether the administration can implement it without Congress's approval. Similar initiatives exist in many countries, including those in the European Union, but they often spark controversy. In 2018, a journalistic investigation in Hungary revealed that the family of Sergey Naryshkin, head of the Russian Foreign Intelligence Service, was among the golden visa beneficiaries.
Trump's "golden residency cards" program is another step toward attracting wealthy investors to the USA. It is expected to benefit the country financially. However, its implementation may face legal and political obstacles.
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