Trump launches £4m "golden residency" cards for elites
Donald Trump has announced a new programme for the sale of "golden residency cards" in the USA for £4 million, aimed at, among others, Russian oligarchs. The programme aims to help reduce the budget deficit.
President Donald Trump announced introducing a new programme that will allow the purchase of "golden residency cards" in the United States for £4 million. According to the Polish Press Agency, this programme is intended to replace the current EB-5 investment visa, which requires an investment of approximately £820,000 and the creation of 10 jobs.
Commerce Secretary Howard Lutnick explained that "golden cards" will function similarly to "green cards," allowing for permanent settlement and the potential acquisition of citizenship. The condition for receiving the card will be a payment of £4 million to the state, which is intended to help reduce the budget deficit. Lutnick emphasised that applicants will be thoroughly screened to ensure they are "wonderful global citizens of world-class calibre." During the programme's announcement, Trump suggested that Russian oligarchs might take advantage of the offer.
Possibly. I know some Russian oligarchs that are very nice people. It's possible," Trump said. "They're not as wealthy as they used to be. I think they can. I think they can afford $5 million — said the president.
"Golden cards" coming soon
The "golden residency cards" programme is expected to be available in just two weeks, although it is unclear whether the administration will be able to do so without Congress's approval. Similar initiatives exist in many countries, including those in the European Union, but they often spark controversy. In 2018, a journalistic investigation in Hungary revealed that the family of Sergey Naryshkin, head of the Russian Foreign Intelligence Service, was among the golden visa beneficiaries.
Trump's "golden residency cards" programme is another step toward attracting wealthy investors to the USA. It is expected to benefit the country financially. However, its implementation may face legal and political obstacles.
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