Trump proposes selling ‘US Citizenship’ for $5m
Staff Reporter :
U.S. President Donald Trump has announced a new initiative allowing foreign investors to secure permanent residency in the United States through a ‘Gold Card’ program.
This initiative, priced at $5 million (equivalent to over 600 million Bangladeshi taka), will provide recipients with a pathway to U.S. citizenship.
Trump unveiled the plan during a press conference on Tuesday (February 25, local time), stating, “We are introducing a Gold Card, which will cost around $5 million. It will offer Green Card benefits and open the door to U.S. citizenship. Wealthy individuals can purchase this card, become even more successful in our country, and contribute through taxes. This will also create employment opportunities for many Americans.”
The Gold Card is expected to attract affluent individuals from around the world. Trump expressed confidence that at least one million Gold Cards would be sold. When asked about the implementation timeline, he stated that the program would be launched within the next two weeks but did not provide specific details on the application process.
Currently, the EB-5 Immigrant Investor Program allows foreign investors to obtain a U.S. Green Card by investing at least $800,000 to $1.05 million in an American company. However, the Gold Card program is expected to replace the EB-5 program entirely.
Trump called the new initiative a “brilliant decision”, emphasizing that it would bring financial benefits to the U.S. economy.
Mixed Reactions from Experts
Immigration experts have expressed divided opinions on the proposal. Some believe the new plan could significantly impact the existing EB-5 program.
David Bier, Director of Immigration Studies at the Cato Institute, criticized the concept, stating,
“Selling permanent residency is not a great idea for any country. It’s an unusual approach that raises ethical and economic concerns.”
However, U.S. Commerce Secretary Howard Lutkin defended the initiative, calling the EB-5 program a flawed and fraudulent system.
“The EB-5 program was a ridiculous way to get a Green Card at a lower price. It was full of loopholes and corruption. The Gold Card will replace it, and this new initiative will help reduce the U.S. financial deficit,” Lutkin stated.
With the launch expected within weeks, the immigration and business communities will closely watch how the Gold Card reshapes U.S. investment-based immigration.