President Donald Trump is back in the spotlight for promoting what he calls the “EP Five,” a $5 million card bearing his image.
As previously reported by the current administration, Trump flaunted a shiny card embossed with his face during an exchange with reporters on April 4. He claimed that immigrants could buy their way into the country for $5 million. The pitch echoed the tone of a used car salesman.
“For $5 million, this could be yours,” Trump said aboard Air Force One. “You know what that card is? It’s the Gold Card, the Trump Card.”
He continued, “Five bucks, it could be yours. It’s the first card—the Trump card—the gold card.”
When asked whether purchases had begun, Trump said the card would be available for sale within two weeks. As of now, no government approval has been given for its release.
EB-5 Immigrant Investor Program
While the rollout of the so-called “Gold Card” may raise eyebrows, the underlying idea isn’t entirely new. The U.S. has allowed foreign nationals to invest their way into the country through the EB-5 investor visa program since 1990.
Originally intended to stimulate the economy and support job growth, the program allows eligible individuals to gain lawful permanent residency by investing in U.S. businesses. According to U.S. Citizenship and Immigration Services (USCIS), qualifications depend on how the investment contributes to job creation. According to Newsweek, under the existing EB-5 program, applicants must pay between $100,000 and $200,000 in fees to the United States Citizenship and Immigration Service (USCIS), invest between $800,000 and $1 million, and create at least 10 jobs for American workers.
On March 15, 2022, President Joe Biden signed the EB-5 Reform and Integrity Act as part of a broader spending bill. The legislation outlines specific criteria for job creation:
- For businesses outside a designated regional center, the enterprise must directly create full-time positions and act as the employer.
- Jobs can be created directly or indirectly within regional centers. Indirect employment can satisfy up to 90 percent of the job creation requirement.
- In cases involving troubled businesses, investors may meet the requirement by maintaining the current workforce at pre-investment levels for at least two years.
While Trump’s “Gold Card” pitch appears to draw loosely from this legal framework, it remains unclear whether the concept has any official grounding or government support.
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