By Lake DiStefano
Opinions Editor
President Donald Trump announced on Feb. 26 that he plans to implement a new gold card program for foreign-born immigrants looking for a route to citizenship, according to AP News. Unlike previous programs, such as the green card, the gold card will be distributed via a commercial system and is set to be sold for $5 million.
Trump said the purpose behind this selling of citizenship is “to give [foreign investors] green card privileges, plus it’s going to be a route to citizenship. And wealthy people will be coming into our country by buying this card.”
The cards would be rolled out in “about two weeks,” according to Trump. However, the President does not have the power to create or eliminate a visa; such an ability is congressional in nature. This plan would require the backing of Congress.
“Companies can buy gold cards and, in exchange, get those visas to hire new employees,” Trump said in a Cabinet meeting on the same day. “No other country can do this because people don’t want to go to other countries. They want to come here.”
The proposed program is similar to programs in other countries, including Canada, New Zealand and Malta. In these countries, participants can pay a fee or make an investment in order to secure a pathway to residency or citizenship.
Such a proposal comes after a series of federal crackdowns on immigration following Trump's insistence on a mass deportation strategy. However, it is unclear as to how likely or far along this plan is, in relation to the proposed gold card policy.
Gold cards would effectively replace the existing EB-5 immigrant investor visa program which, according to the United States Citizenship and Immigration Services, currently functions in a similar way. The program grants lawful permanent residence to foreign investors if they apply after meeting two qualifications: investing in commercial enterprises, and planning to create or preserve 10 permanent full-time jobs for U.S. workers.
If this policy is enacted, anyone without the initial $5 million will now be unable to access this type of citizenship.
The EB-5 program originally “was created by Congress in 1990 to stimulate the U.S. economy through job creation and capital investment by foreign investors,” according to USCIS. Previously, such a monetary barrier did not exist, and thus gave access to a greater range of foreign investors.
It is unclear if Trump plans to campaign the idea in an effort to appeal to Congress. It also remains to be seen if this gold card means of citizenship will pass within the timeframe that the president has laid out for it.
