The United States Commerce Secretary, Howard Lutnick, has said that wealthy foreigners with $5 million to spare will soon be eligible to register for the US gold card, offering them the opportunity to live and work in the US permanently.
He expressed his hopes that in about a week, there will be a website called ‘Trump card dot gov’, stressing that further details will soon be provided, adding that people can start to register, VisaGuide.World reports.
The US Commerce Secretary indicated that there is already a strong interest in the new Residency-by-Investment program, stressing that on a recent trip in the Middle East, he was already selling gold cards, according to a report from CNN.
Basically, everyone I meet who is not an American is going to want to buy this card if they have the fiscal capacity.
Lutnick also said that the“gold card” scheme could help the US reduce the federal debt, which is now more than $36 trillion.
These are going to be great people who are going to come and bring businesses and opportunity to America, and they’re going to pay $5 million. If there are 200,000 people who pay, that’s a trillion dollars. That pays for everything.
Over 1,000 Golden Visas Sold in a Single Day
The United States President, Donald Trump, introduced the Gold Card Scheme earlier this year, which offers residency to wealthy foreigners in exchange for investments worth at least $5 million.
The program is a replacement for the previous US EB-5 visa scheme, but the minimum requirement for investments through it was significantly lower.
However, in March this year, the US Secretary, Lutnick, said that a total of 1,000 gold cards were sold in the United States within a single day.
Based on these comments, the 1,000 golden visas granted within a day brought a total of $5 billion to the US in 24 hours.
In addition, he said that people are lining up in order to benefit from the Residency by Investment scheme of the US.
The program will officially roll out in about two weeks. Elon Musk is building the software for it right now, and then it will go out in about two weeks… by the way, just yesterday I sold a thousand.
In spite of the fact that the price of the gold card was considered significantly higher compared to other countries that run similar schemes, President Trump, while introducing the program, considered that the price of a gold card is a bargain.