Washington: President Donald Trump recently introduced a new initiative called the ‘gold card’. This plan aims to help American companies hire talented graduates from top US universities like Harvard and Stanford, particularly those from India.
On Wednesday, Trump described the ‘gold card’ as a way for wealthy foreigners to live and work in the United States. For a fee of USD 5 million, individuals can obtain this card, which offers green card privileges and a potential path to citizenship.
“We’re going to be selling a gold card,” Trump announced from the Oval Office. “You have a green card. This is a gold card. We’re putting a price of about USD 5 million on it. Wealthy people will be coming into our country by buying this card,” he explained.
The president expressed concerns about the current immigration system, which he believes makes it hard for top international talent to stay in the US. He pointed out that graduates from countries like India and China often get job offers but face uncertainty about their ability to remain in the country. This can lead to these talented individuals returning home and starting successful businesses, becoming billionaires, and creating jobs in their own countries.
Trump mentioned that companies could use the gold card as a recruitment tool. “I want these people to stay in the country. Companies can buy a gold card to help with hiring,” he said.
The sale of these cards is expected to start in about two weeks, with expectations that millions could be sold. This initiative will replace the existing EB-5 immigrant investor visa program, which has allowed foreign investors to obtain US visas by funding projects that create jobs.
The EB-5 program, established in 1992, requires a minimum investment of USD 1,050,000, or USD 800,000 in areas that need economic support, to grant green cards to foreign investors.
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Source linkINDIAN GRADUATES HIRING IN US, US PRESIDENT DONALD TRUMP, TRUMP ON GOLD CARD, US GOLD CARD, US COMPANIES CAN NOW HIRE INDIAN GRADUATES FROM TOP UNIVERSITIES UNDER NEW CITIZENSHIP PLAN: TRUMP
