We use Google Cloud Translation Services. Google requires we provide the following disclaimer relating to use of this service:
This service may contain translations powered by Google. Google disclaims all warranties related to the translations, expressed or implied, including any warranties of accuracy, reliability, and any implied warranties of merchantability, fitness for a particular purpose, and noninfringement.
Last month, on February 25, President Donald Trump's $500,000,000 gold card, which he claimed would have a long-term impact on the American economy, has started selling.
Targeting the world's rich, President Trump brought an offer to come to America by purchasing a gold card for $5 million (685 million Nepalese rupees) with the provision that they can legally reside permanently and do business in America.
With the implementation of the offer brought by Trump, in the third week of March, 1,000 people paid 5 million dollars per person and got a gold card. American Commerce Secretary Howard Lutnick has claimed that 5 billion US dollars have been collected in the state fund when 1,000 people bought gold cards by paying 5 million dollars per person in one day. During an interview with
Financial Express, Lutnik said, "President Trump will sell at least one million gold cards during his tenure, and the United States will earn 5 trillion US dollars." He said, "37 million people in the world are able to buy gold cards." The president claims that we can sell 1 million. It will help to pay the national debt.'
Lutnik said that 250,000 people were interested in purchasing Trump's gold card. Lutnik has also disclosed that the concept of the Gold Card, known as the 'Trump Card', was put forward by President Trump after meeting with investor John Paulson.
The concept of gold card came during the conversation between Trump and billionaire investor John Paulson. After President Trump launched the plan, my job is just how to advance this concept and make the plan effective.'
He said during the interview . He said that Dutch chief Elon Musk's team is building a custom software platform to manage the background check process for gold card applicants. Musk's team plans to release the software in two weeks.
After buying a gold card, any person will be able to live and work in America, and the process of acquiring American citizenship will also be easy. "We are selling gold cards," Trump said during the gold card announcement from the Oval Office. "You have a green card, but this will be a gold card." We have priced it at $5 million. Wealthy people will buy this card and come to our country.'
Commerce Secretary Lutnick said that the card will replace the US government's 'EB-5' visa program, 'EB-5' will allow foreign investors to invest in US projects for job creation, and only then can they apply for immigration visas.
The main objective of the 'EB-5' visa program started in 1992 is to attract foreign investment . Under this program, there is a provision that a person should create employment by investing at least 1 million 50 thousand US dollars . Businesses connected to Trump and his family have also used this program to add wealth.
Even during Trump's first term, lawmakers said that the program deviated from its goals and needed reform. In 2019, the Trump administration set a minimum investment of $900,000 for targeted economic sectors and $1.8 million for other sectors. But that move was struck down by a federal judge in 2021. The program was last renewed in 2022 during the Joe Biden administration.
