Trump's 'Gold Card' Visa Program Approved for First Applicant
Trump's Gold Card' Visa Starting At $1 Million Granted To One Person: White House
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The U.S. government's new 'gold card' visa program, allowing foreigners to invest at least $1 million to live and work in the U.S., has been approved for its first applicant. Commerce Secretary Howard Lutnick reported that the program has generated $1.3 billion in interest since its launch in December 2022.
- 01The 'gold card' visa requires a minimum investment of $1 million.
- 02Only one visa has been approved so far, but hundreds are in process.
- 03The program aims to replace the EB-5 visa program and attract foreign talent.
- 04Each applicant must pay a $15,000 fee for vetting.
- 05The initiative is expected to raise significant revenue for the U.S. government.
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The 'gold card' visa program, introduced by U.S. President Donald Trump, allows foreigners to invest at least $1 million to legally reside and work in the United States. Commerce Secretary Howard Lutnick announced that the program has already generated $1.3 billion in interest since its launch in December 2022, with only one visa approved so far. The program is designed to attract skilled immigrants and replace the older EB-5 program, which required a similar investment for U.S. visas. Each applicant pays a $15,000 fee for rigorous vetting, and corporations can invest $2 million for foreign employees. Trump has emphasized the program's potential to boost federal revenue, with projections suggesting it could raise $1 trillion to help address the current national debt of $31.3 trillion. The concept of 'golden visas' is not unique to the U.S., as many countries, including the UK and Canada, offer similar programs to wealthy individuals.
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The 'gold card' visa program could significantly influence the U.S. economy by attracting wealthy individuals who can contribute to job creation and federal revenue.
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