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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55-bed free palliative care centre to open near Bengaluru’s Nelamangala
Bengaluru: A new 55-bed palliative care centre for terminally ill patients, named the Nemmadi Centre for Palliative Care, will be inaugurated near Nelamangala on Sunday. The facility will offer all services completely free of cost.
According to a report published by Deccan Herald on Saturday, the centre has been set up by the Sukruthi Charitable Trust in collaboration with Rotary Bangalore Midtown. Around Rs 20 crore has been invested in the project, which will operate without a billing counter, ensuring that families do not have to pay for treatment.
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The centre will provide comprehensive palliative care, including medical support, counselling for patients and their families, and bereavement care. The facility aims to help families cope with the physical and emotional challenges of caring for terminally ill patients.
“A cornerstone of the project was the generous donation of land by former MLC E Krishnappa, which made the centre possible,” DH quoted Palani Loganathan as saying.
The inauguration ceremony will be attended by Madhusudan Sai, founder of the Sri Madhusudan Sai Global Humanitarian Mission, Karnataka Health Minister Dinesh Gundu Rao and Rajya Sabha MP Dr C.N. Manjunath who also serves as the chief medical advisor to the centre will also be present, along with several senior government officials and healthcare leaders.
