Trump plans $5 million ‘gold card’ visa for US citizenship, replacing EB-5 investor visas
Washington (PTI): President Donald Trump said that he plans to offer a “gold card” visa with a path to citizenship for USD5 million, replacing a 35-year-old visa for investors.
"They'll be wealthy and they'll be successful, and they'll be spending a lot of money and paying a lot of taxes and employing a lot of people, and we think it's going to be extremely successful,” Trump said in the Oval Office.
Commerce Secretary Howard Lutnick said the “Trump Gold Card” would replace EB-5 visas in two weeks. EB-5s were created by Congress in 1990 to generate foreign investment and are available to people who spend about USD1 million on a company that employs at least 10 people.
Lutnick said the gold card — actually a green card, or permanent legal residency — would raise the price of admission for investors and do away with fraud and “nonsense” that he said characterize the EB-5 program. Like other green cards, it would include a path to citizenship.
About 8,000 people obtained investor visas in the 12-month period ending Sept. 30, 2022, according to the Homeland Security Department's most recent Yearbook of Immigration Statistics. The Congressional Research Service reported in 2021 that EB-5 visas pose risks of fraud, including verification that funds were obtained legally.
Investors' visas are common around the world. Henley & Partners, an advisory firm, says more than 100 countries around the world offer “golden visas” to wealthy individuals, including the United States, United Kingdom, Spain, Greece, Malta, Australia, Canada and Italy.
Trump made no mention of the requirements for job creation. And, while the number of EB-5 visas is capped, Trump mused that the federal government could sell 10 million “gold cards” to reduce the deficit. He said it “could be great, maybe it will be fantastic.”
“It's somewhat like a green card, but at a higher level of sophistication, it's a road to citizenship for people, and essentially people of wealth or people of great talent, where people of wealth pay for those people of talent to get in, meaning companies will pay for people to get in and to have long, long term status in the country,” he said.
Congress determines qualifications for citizenship, but Trump said “gold cards” would not require congressional approval.
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3 killed in landslide during road widening at Hulikal ghats in K'taka, CM announces ex-gratia
Shivamogga (Karnataka) (PTI): Three labourers were killed and four others injured after a landslide struck a road construction site at Hulikal Ghat in this district, police said on Friday.
The deceased have been identified as Raghavendra (37), Raju (30), and Shabbir (40), all engaged in wall construction work at the site, they said.
Chief Minister Siddaramaiah announced a compensation of Rs five lakh each to the families of the deceased.
The incident occurred late Thursday afternoon at a hairpin bend in Hulikal Ghat in Hosanagara taluk, they said.
According to officials, a massive landslide of soil and rocks from the hillside buried the workers.
A total of seven workers were caught in the landslip. Three labourers died on the spot after being trapped under the debris.
Rescue teams managed to pull out four injured workers and shift them to hospitals in nearby areas, including Kundapura and Udupi, for treatment, they said.
The mishap took place during ongoing efforts to build a retaining wall aimed at ensuring the safety of vehicles navigating the ghat section, which is known for its steep curves and landslide-prone terrain.
An SDRF team from Mangaluru reached the place early Friday morning and took up relief work.
Police, fire and emergency personnel rushed to the spot soon after the incident and launched rescue operations.
Authorities said the sudden collapse of loose soil and rocks from the upper slope is suspected to have triggered the landslip.
A case has been registered, and an investigation is underway to ascertain whether adequate safety measures were in place at the worksite.
Taking to 'X', CM Siddaramaiah said that regarding the incident, I have spoken with District In-charge Minister Madhu Bangarappa and obtained information.
"I am deeply saddened to hear the news that three workers lost their lives when soil collapsed during the construction of a road barrier at a bend in Hulikal Ghat, in Hosanagara taluk of Shivamogga district. I pray that the souls of the deceased unfortunate workers attain eternal peace, and that their family members find the strength to bear this sorrow," he said.
These breadwinning lives, which were the support of their families, have been lost in this tragedy, and on humanitarian grounds, a compensation of Rs five lakh each will be provided to the families of the deceased workers, the chief minister added.
