US President Donald Trump announced on Tuesday, February 25, that the country would start selling permanent residency or "gold cards" for $5 million per person. He said that the US will replace the EB-5 program with a new "Gold Card." The card will give buyers the same privileges as green card holders, who have permanent residency and work authorisations in the US.
Trump further stated that the wealthy people who buy the gold card would also invest in the country by spending a lot of money, paying a lot of taxes, and employing a lot of people. According to Trump, the card is likely to launch in the upcoming weeks. Trump claimed his administration would not need congressional approval to establish the card “because we’re not doing citizenship, we’re doing the card.”
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Will Gold Car Provide US Citizenship?
If the gold card has the same privileges as the green card, than wealthy buyers will still lack citizenship rights including the right to vote, the right to run for public office and the right to obtain a US passport.
How to Get US Permanent Residency?
Investment Amount:$800,000 in a Targeted Employment Area (TEA) – rural or high-unemployment zones.$1,050,000 in non-TEA areas.
Job Creation:Your investment must create or preserve at least 10 full-time US jobs (35+ hours/week).
Source of Funds:
Prove the money is legal (eg. savings, business profits, inheritance).
Step 1: File I-526 Petition:Submit to USCIS with proof of investment and job-creation plan.Processing can take 1-3 years.
Step 2: Conditional Green Card:If approved, get a 2-year conditional residency.Live in the US for at least 6 months per year.
Step 3: File I-829 Petition:Within the last 90 days of the 2-year period, prove job requirements were met.Removes conditions for a permanent Green Card.
Step 4: Permanent Residency:After I-829 approval, you’re a full permanent resident.Maintain residency for 5 years (30 months physically in the US).
Step 5: Apply for Citizenship:File Form N-400 after 5 years as a permanent resident.Pass the English/civics test and take the Oath of Allegiance.
Timeline:7-10 years from investment to citizenship, depending on delays.