United States President, Donald Trump, has unveiled what he described as the first edition of a $5 million “gold card” designed for wealthy foreigners, including Nigerians.
While speaking to reporters aboard Air Force One on Thursday, Trump said the initiative is a reimagining of the EB-5 visa programme, aimed at attracting high-net-worth individuals by offering them “green-card privileges-plus” in exchange for massive investments into the U.S. economy.
“For $5 million, this could be yours,” Trump told reporters. “That was the first of the cards. You know what that card is? It’s the gold card — the Trump card.”
The card, which is expected to be out in less than two weeks, builds on the EB-5 visa programme created by Congress in the 1990s. The programme offered green cards to foreigners who invested approximately $1 million in U.S. businesses, particularly in rural or high-unemployment areas. Green cards provide permanent residency and a path to citizenship while offering the freedom to work anywhere, unlike traditional employment-based visas.
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The Trump administration’s revamp drops previous preferences and focuses instead on straightforward access through wealth, with the “gold card” acting as a premium-tier fast track.
Commerce Secretary Howard Lutnick last month claimed that over 1,000 gold cards had already been sold, with more than 37 million people around the world reportedly able to afford one. He added that the cards could contribute significantly toward reducing the U.S. national debt.
“There’s a line for EB-5 of 250,000 right now. 200,000 of these gold green cards [at $5 million] is $1 trillion to pay down our debt,” Lutnick previously explained, referring to the $36.5 trillion national debt.
Since its inception, the EB-5 visa scheme has seen 135,518 visas issued over 25 years, according to the Invest In the USA (IIUSA) trade association.
The new gold card, however, represents a bolder, more lucrative pitch, and Trump says he’s already the first to buy in, though he admitted he doesn’t yet know who the second buyer is.
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