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Trump Announces Introduction of Gold Card Visa, Replacing EB-5 Visa
BY Connect Newsroom, Feb 26, 2025 7:12 PM - REPORT AN ERROR
Under the new system, obtaining US citizenship will cost five times more than before. Wealthy foreigners will be able to acquire the Gold Card Visa for $5 million.(Photo: The Canadian Press)
US President Donald Trump has announced the launch of the Gold Card Visa, which will replace the 35-year-old EB-5 visa program. Under the new system, obtaining US citizenship will cost five times more than before. Wealthy foreigners will be able to acquire the Gold Card Visa for $5 million.
Trump stated that the US will offer Gold Cards to affluent foreigners, granting them the right to live and work in the US, with a pathway to citizenship in exchange for a $5 million fee. Under the previous EB-5 visa, applicants had to invest at least $1 million in a business that created a minimum of 10 jobs in the US and wait five to seven years for citizenship.
With the new Gold Card Visa, the job creation requirement has been eliminated, and applicants will be able to obtain citizenship more quickly. Trump confirmed that the Gold Card Visa will be available in about two weeks.
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