The US government has the ability to exit about 1.1 million permanent resident cards in the current financial year, which are divided into categories for other groups based on family members, advanced skill workers and accurate rules.
Lutnik originally proposed Trump’s Gold Card as a replacement for one of these categories, known as the EB -5 investor visa, probably the closest to a golden visa in the United States.
Buced by the Congress in 1990, the program currently allows around 10,000 foreigners to get a green card every year by investing $ 1.05 million in the United States (or $ 800,000 in rural areas and areas prone to high unemployment), supports at least 10 full -time jobs.
When the program was initially prepared, experts say, the legalists moved to a large length to ensure that it has not been seen as a route for corrupt aristocratic classes to incorrectly buy its way in the United States. A part of the effort was ensuring that the immigration officers were carefully assessed each EB-5 application to verify that investment funds are not coming from illegal or unnatural sources.
“USCIS has a complete unit full of economists and national security experts” that reviews EB -5 applications, says Dug Rand, a former senior advisor to USCIS under the biden administration. During its time in the government, Rand says, there was so much paperwork related to EB -5 petitions that a huge pile of files relaxed the floor inside the USCIS headquarters.
It is not clear whether this level investigation will be implemented on the gold card program. During February, whether a Russian elite would be eligible, Trump said, “Yes, probably, I know some Russian elite classes who are very good people.”
Advocates of the existing EB -5 program say it has been used by most general migrants who saved for years for the development of American real estate and investing in other enterprises, and expected to return their money one day. In other words, it is not a group of people who can usually pay $ 5 million for the gold card and cannot see those funds again.
Brad Sher, Chief Executive Officer of EB5 Group, says, “Most people who are trying to take advantage of the EB -5 program, there is no kind of money in the form of green cards and the path of citizenship.” “They are mostly working classes who work hard to save their money, and they are often using most of their savings to come up with the investment amount to take advantage of EB -5.” (Sher says that he supports Trump’s gold card, although he hopes that it can co -exist with EB -5 visas).
During the initial oval office briefing on 25 February, Lutynik said that the Gold Card initiative will begin in about two weeks. During his podcast interview, which surfaced on March 20, a month later, he also claimed that the project was correct around the corner. “It went out about two weeks from today,” Lutnik said, cutting your hand through the wind to insist. Whether it is really ready and, if yes, it will be announced, be unknown.
Additional reporting by Matt Giles and Zei Yang.
