President Donald Trump has unveiled an ambitious new initiative aimed at attracting high-caliber investors and entrepreneurs to the United States. On February 26, he announced plans for a "gold card" visa program, designed to replace the existing EB-5 investor visa program. This innovative new pathway to residency and potential citizenship would be available for a $5 million investment, significantly raising the bar for foreign investors seeking to contribute to the U.S. economy.
“I happen to think it’ll sell like crazy. It’s a market,” President Trump stated confidently. His vision for the program includes using the revenue generated to help reduce the national debt, a goal that could be substantially advanced if the program proves successful. "If we sell a million, that’s $5 trillion dollars," he remarked, underscoring the potential financial benefits.
The introduction of the gold card visa would represent a transformative shift in U.S. immigration policy, aligning the nation with other leading countries that offer similar "golden visa" opportunities. Many countries, including the United Kingdom, Spain, Greece, Malta, Australia, Canada, and Italy, have successfully implemented programs that grant residency or citizenship to high-net-worth individuals willing to invest in their economies.
President Trump emphasized the advantages of this program, noting that participants would be “wealthy and successful,” and that their investments would lead to job creation, increased tax revenues, and economic growth. “They’ll be spending a lot of money, paying a lot of taxes, and employing a lot of people, and we think it’s going to be extremely successful,” he said.
A key feature of the gold card visa program is its potential pathway to U.S. citizenship—an enhancement over the EB-5 program, which does not directly offer this option. The vetting process for applicants is still being developed, but President Trump assured that it would be thorough and effective. Commerce Secretary Howard Lutnick reinforced this point, emphasizing that the new initiative would address issues that plagued the EB-5 program, such as fraud and oversight deficiencies.
A PROBLEM WITH EB5 THE TERRY MCAULIFFE SCANDAL
"Virginia Governor Terry McAuliffe and former Democratic presidential candidate Hillary Clinton’s brother, Anthony Rodham, are at the center of a $17 million fraud lawsuit filed by Chinese investors in Greentech Automotive, a failing electric car company that now appears to have been little more than a scheme to exploit foreign investors.
The lawsuit, brought by 32 Chinese citizens in Fairfax County, Virginia, details how McAuliffe and Rodham deliberately misled investors, convincing them to sink $560,000 each into Greentech under the guise of obtaining U.S. residency through the EB-5 visa program. Instead of fulfilling their promises, the duo allegedly used their political clout to lure in investments while knowing full well that the company was unlikely to succeed.
McAuliffe’s involvement in this fraudulent enterprise is particularly damning as he eyes a potential run for the presidency in 2020. His history of questionable business dealings has already caught the attention of the FBI and federal prosecutors, though it remains unclear whether the ongoing probe directly involves Greentech. However, the mounting evidence in this lawsuit paints a clear picture of deception and corruption at the highest levels.
The Chinese investors, who were promised permanent residency in exchange for their contributions, now find themselves facing deportation because the Department of Homeland Security has determined that Greentech failed to generate the necessary U.S. jobs to sustain their visa approvals. The lawsuit explicitly labels the operation as a “scam,” holding McAuliffe, Rodham, and Greentech founder Charles Xiaolin Wang accountable for the financial and emotional toll inflicted on these investors.
Further exacerbating the situation, McAuliffe and Rodham traveled extensively throughout China, exploiting Rodham’s familial connection to former President Bill Clinton and then-Secretary of State Hillary Clinton to dupe investors into believing that Greentech was a politically backed and secure venture. The suit asserts that the defendants shamelessly leveraged their political influence, using it as a selling point to instill false confidence in the project.
“Defendants milked these connections in marketing materials,” the lawsuit states.
“Defendants exploited those relationships to assure investors of both the success of the company and their ability to obtain U.S. Citizenship and Immigration Services (USCIS) approval of the visa applications.”
Despite the serious allegations, McAuliffe’s spokeswoman, Crystal Carson, has attempted to dismiss the claims, calling them baseless and politically motivated. However, her statement does little to counteract the overwhelming evidence suggesting that McAuliffe knowingly engaged in a scheme that not only defrauded investors but also jeopardized their legal standing in the U.S.
As the lawsuit progresses, McAuliffe and Rodham’s roles in this fraudulent enterprise are becoming increasingly difficult to deny. The evidence points to a calculated effort to mislead foreign investors, using political influence as a shield for their deceit. If the courts rule against them, McAuliffe’s political ambitions may come to an abrupt and well-deserved end."
(ED NOTE. This lawsuit occurred in 2017. n February 2018 the firm declared bankruptcy, and the following month a federal judge dismissed McAuliffe from the lawsuit.(wikipedia)
The gold card visa program is also designed to be flexible, allowing both individuals and businesses to participate. “Companies can buy gold cards and, in exchange, get those visas to hire new employees,” President Trump explained. He expressed confidence in the program’s attractiveness, stating, “Everybody wants to come here, especially since Nov. 5,” referring to his most recent election victory.
Unlike the EB-5 program, which is capped in terms of annual visa issuances, the gold card visa presents a broader opportunity for investors. President Trump suggested that the federal government could potentially issue up to 10 million gold cards, significantly reducing the deficit while simultaneously bolstering the U.S. economy. “It’s somewhat like a green card, but at a higher level of sophistication,” he noted.
This groundbreaking initiative positions the United States as a premier destination for high-net-worth individuals and top-tier talent from around the world. By attracting successful investors and business leaders, the gold card visa program aims to enhance economic growth, create jobs, and further establish the U.S. as a beacon of opportunity. With strong demand anticipated, this forward-thinking policy is poised to be a resounding success.
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