Secretary of Commerce Howard Lutnick He told reporters in the Oval Office that the Trump administration will end its existing EB5 visa program, but President Trump boasts a new visa.
“We're going to put the price on that card Approximately $5 million And it's going to give you green card privileges, and it's going to be the route to citizenship,” Trump said.
“And the wealthy people will come to our country by buying this card. They will become wealthy, they will succeed, they will I spend a lot of money And they pay a lot of taxes and employ a lot of people. And we think it's going to be very successful,” he continued.
Trump said the new system has “never been done before,” but the broad strokes of his release of sounds similar to existing sounds are EB5 Investor Programalthough there is a higher price tag.
Current programs require investors to invest more than $1 million Create at least 10 jobs. It also makes investors a path to green cards and then citizenship.
Read the full report at thehill.com.
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