“Gold Card” Initiative : Trump to offer US citizenship
“Gold Card” Initiative : Trump to offer US citizenship The new programmed would raise the investment requirement while reducing fraud and bureaucratic inefficiencies associated with the EB-5. US President Donald Trump announced a new investor visa programmed called the “Trump Gold Card,” which would offer a path to US citizenship for a $5 million investment. The initiative aims to replace the 35-year-old EB-5 visa programmed, which has been in place since 1990 to encourage foreign investment in the United States.
Trump’s ‘gold’ visa: Who qualifies, what it costs and why it’s divisive : “Gold Card” Initiative : Trump to offer US citizenship
“You have a green card, this is a gold card,” Trump told reporters in the Oval Office Tuesday. Permanent residents who are not citizens in the US are known as “green card” holders.
“It’s going to give you green card privileges plus it’s going to be a route to (American) citizenship,” the president added.
President Donald Trump announced on Tuesday that the US would start selling a new type of residency permit called a ‘gold card.’ The new program would replace the existing EB5 visa which gave investors pathway to citizenship.
President Donald Trump announced on Tuesday that the US would start selling a new type of residency permit called a ‘gold card.’ He branded the $5 million gold card as ‘somewhat like a green card but at a higher level of sophistication.’ Commerce Secretary Howard Lutnick was also present in the Oval Office when the president declared the new program and told reporters that the administration would end the existing EB5 visas and “replace it with the Trump gold card.”
what is EB-5 Visa ? “Gold Card” Initiative : Trump to offer US citizenship
To qualify for an EB5 visa, applicants must: Invest: $1,050,000 in a U.S. business or $800,000 in a TEA (rural areas, high-unemployment zones, or infrastructure projects). Create Jobs: Generate 10 full-time jobs for U.S. workers, sustained for at least two years.”Gold Card” Initiative : Trump to offer US citizenship
USCIS administers the EB-5 Program. Under this program, investors (and their spouses and unmarried children under 21) are eligible to apply for lawful permanent residence (become a Green Card holder) if they: “Gold Card” Initiative : Trump to offer US citizenship
- Make the necessary investment in a commercial enterprise in the United States; and
- Plan to create or preserve 10 permanent full-time jobs for qualified U.S. workers.
This program is known as EB-5 for the name of the employment-based fifth preference visa that participants receive.
Congress created the EB-5 Program in 1990 to stimulate the U.S. economy through job creation and capital investment by foreign investors. In 1992, Congress created the Immigrant Investor Program, also known as the Regional Center Program, which sets aside EB-5 visas for participants who invest in commercial enterprises associated with regional centers approved by USCIS based on proposals for promoting economic growth “Gold Card” Initiative : Trump to offer US citizenship
About the EB-5 Visa Classification
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USCIS administers the EB-5 Immigrant Investor Program, which was created by Congress in 1990 to stimulate the U.S. economy through job creation and capital investment by foreign investors. Under a program first enacted as a pilot in 1992 and regularly reauthorized since then, investors may also qualify for EB-5 classification by investing through regional centers designated by USCIS based on proposals for promoting economic growth. On March 15, 2022, President Biden signed the EB-5 Reform and Integrity Act as part of the Consolidated Appropriations Act, 2022 (Public Law 117-103), which created new requirements for the EB-5 immigrant visa category and the Regional Center Program. Immigrant visas are authorized under the Regional Center Program through Sept. 30, 2027.
This page provides a brief overview of the basic requirements for an EB-5 immigrant visa under the EB-5 Reform and Integrity Act. USCIS policy on EB-5 adjudications is in Volume 6, Part G of the USCIS Policy Manual for petitions filed before and after the enactment of the EB-5 Reform and Integrity Act. USCIS will continue to update its Policy Manual with the provisions of the EB-5 Reform and Integrity Act. Gold Card” Initiative
USCIS policy on EB-5 adjudications is in Volume 6, Part G of the USCIS Policy Manual.
All EB-5 investors must invest in a new commercial enterprise that was established:
- After Nov. 29, 1990; or
- On or before Nov. 29, 1990, that was: Gold Card” Initiative
- Purchased and the existing business is restructured or reorganized in such a way that a new commercial enterprise results; or
- Expanded through the investment, resulting in at least a 40% increase in the net worth or number of employees.
A new commercial enterprise means any for-profit activity formed for the ongoing conduct of lawful business, including:
- A sole proprietorship; “Gold Card” Initiative : Trump to offer US citizenship
- Partnership (whether limited or general);
- Holding company and its wholly owned subsidiaries (provided that each subsidiary is engaged in a for-profit activity formed for the ongoing conduct of a lawful business);
- Joint venture; “Gold Card” Initiative : Trump to offer US citizenship
- Corporation; “Gold Card” Initiative : Trump to offer US citizenship
- Business trust; “Gold Card” Initiative : Trump to offer US citizenship
- Limited liability company; or “Gold Card” Initiative : Trump to offer US citizenship
- Other entity, which may be publicly or privately owned. “Gold Card” Initiative : Trump to offer US citizenship
This definition does not include noncommercial activity, such as owning and operating a personal residence.
EB-5 Immigrant Investor Process
Alert Type info
ALERT: Beginning Sept. 1, 2022, we will no longer accept a single, combined fee payment when an applicant or petitioner files Form I-526, Immigrant Petition by Standalone Investor, or Form I-526E, Immigrant Petition by Regional Center Investor, together with Form I-485, Application to Register Permanent Residence or Adjust Status, Form I-131, Application for Travel Documents, Parole Documents, and Arrival/Departure Records, or Form I-765, Application for Employment Authorization. Petitioners must send a separate fee payment for each form.
If a petitioner or applicant submits a single, combined fee payment for Forms I-526 or I-526E and the other forms, we will reject the forms for improper fee payment and return the fee. “Gold Card” Initiative : Trump to offer US citizenship
This page provides an overview of the EB-5 petition and application process for immigrating to the United States.
- File Form I-526, Immigrant Petition by Standalone Investor, or Form I-526E, Immigrant Petition by Regional Center Investor.
If an immigrant visa is immediately available to you, you may file Form I-485, Application to Register Permanent Residence or Adjust Status, together with your Form I-526 or Form I-526E, while your Form I-526 or Form I-526E is pending, or after your Form I-526 or Form I-526E is approved. To make sure that an immigrant visa is immediately available to you when you file your Form I-485, see the Visa Availability and Priority Dates and Adjustment of Status Filing Charts from the Visa Bulletin pages on our website as well as the Visa Bulletin. “Gold Card” Initiative : Trump to offer US citizenship
If USCIS approves this petition, we will remove the conditions from your lawful permanent resident status and from that of any dependents you included.
After we approve your Form I-526 or Form I-526E petition, either: “Gold Card” Initiative : Trump to offer US citizenship
File DS-260, Application for Immigrant Visa and Alien Registration, with the U.S. Department of State to obtain an EB-5 visa abroad to seek admission to the United States; or “Gold Card” Initiative : Trump to offer US citizenship
File Form I-485, Application to Register Permanent Residence or Adjust Status, with USCIS (if you did not already file Form I-485 prior to Form I-526 or Form I-526E approval) to adjust status to a conditional permanent resident within the United States. Once we approve your Form I-485 application or upon admission into the United States with an EB-5 immigrant visa, we will grant conditional permanent residence to the EB-5 investor and derivative family members for a two-year period.
File Form I-829, Petition by Investor to Remove Conditions on Permanent Resident Status, within the 90-day period immediately before the second anniversary of your adjustment of status or admission to the United States as a conditional permanent resident. “Gold Card” Initiative : Trump to offer US citizenship
ALERT: Under the new provisions of section 203(b)(5)(E)(vii) added by the EB-5 Reform and Integrity Act of 2022 (RIA) to
The United States EB-5 visa, employment-based fifth preference category[1] or EB-5 Immigrant Investor Visa Program was created in 1990 by the Immigration Act of 1990. It provides a method for eligible immigrant investors to become lawful permanent residents—informally known as “green card” holders—by investing substantial capital to finance a U.S. business (known as a “new commercial enterprise”) as long as it creates at least 10 new, full-time jobs for Americans and work-authorized immigrants.[2] The EB-5 program is intended to encourage both “foreign investments and economic growth.”[3] The EB-5 Immigrant Investor Visa Program is one of five employment-based (EB) preference programs in the United States.[4]: 4
Based on the EB‐5 Reform and Integrity Act, which was signed into law on March 15, 2022, the minimum investment requirement to qualify under the EB-5 program is $1,050,000.[5] The investment requirement is reduced to $800,000, however, if the investment is made in a qualifying infrastructure project or Targeted Employment Area (TEA). Most immigrant investors who use the EB-5 program invest in a TEA[6]: 8 —a rural area or area with the high unemployment rate in order to invest less capital.[7] Investors who make a TEA investment or an infrastructure investment for the $800,000 investment minimum qualify for EB-5 “set aside” visas, which are broken down into three categories: infrastructure projects; projects in high-unemployment areas; and projects in rural areas. “Gold Card” Initiative : Trump to offer US citizenship
Applicants have the choice of investing directly or through a “larger investor pool via regional centers (RCs)”,[4]: 2 which are federally approved investment issuers that “connect foreign investors with developers in need of funding, and take a commission.”[8][9][10][4] Regional centers are usually private, for-profit businesses that are approved by the U. S. Citizenship and Immigration Services (USCIS) which is part of the Department of Homeland Security] “Gold Card” Initiative : Trump to offer US citizenship
As of April 4, 2023, there are 640 USCIS-approved regional centers,[12] and as of March 2023, the “vast majority” of EB-5 visas were “granted through regional center[s].”[6]: 4 By 2015, the EB-5 program had become an “important source of capital for developers”[4] and for the regional centers.[10] If an EB-5 investment is made in a regional center, the jobs may be created indirectly through economic activity, as opposed to a direct investment. [13] “Gold Card” Initiative : Trump to offer US citizenship
As of April 23, 2020, 78,278 investors have applied for the EB-5 program.[14] Most investors—about 80 percent—come from four countries: China, South Korea, Taiwan and the United Kingdom. Large numbers of applicants have also come from Vietnam, India, Brazil, Mexico, and Nigeria.[14] In 2014, 85% of the 10,692 EB-5 visas issued were for Chinese nationals, according to a study by Savills Studley, a “real estate services firm.”[15][16] On December 20, 2019, President Trump signed a law extending the Regional Center Program through September 30, 2020.[17] On March 15, 2022, President Biden signed a law extending the regional center program through September 30, 2027. “Gold Card” Initiative : Trump to offer US citizenship
know about ssn
The EB-5 visa program, also known as the Immigrant Investor Program, is a U.S. immigration program designed to encourage foreign investment in the United States. It provides a pathway to a U.S. green card (permanent residency) for individuals who make a significant investment in a U.S. business that creates jobs.
Here are the key points of the EB-5 program: “Gold Card” Initiative : Trump to offer US citizenship
- Investment Requirement:
- The individual must invest $1 million in a U.S. business (or $500,000 if the investment is made in a targeted employment area, which is an area with high unemployment or rural areas). “Gold Card” Initiative : Trump to offer US citizenship
- Job Creation:
- The investment must create or preserve at least 10 full-time jobs for U.S. workers within two years of the investment.
- Green Card:
- Upon successful investment and job creation, the investor and their immediate family (spouse and children under 21) can obtain a conditional green card for two years.
- After two years, they can apply to have the conditions removed and obtain a permanent green card if the investment requirements have been met.
- Types of Investments:
- Investors can either invest directly in a business or through a Regional Center, which pools investments to fund projects that are intended to stimulate the economy.
The program is designed to attract foreign capital to stimulate job creation and economic growth in the U.S. It has been especially popular among high-net-worth individuals from around the world.
Disclaimer
The information provided in this article is for informational purposes only and does not constitute legal, financial, or investment advice. While we strive to ensure the accuracy of the information presented, the EB-5 visa program is subject to changing laws, regulations, and policies, and eligibility requirements may vary. We recommend consulting with an experienced immigration attorney or a qualified professional before making any decisions related to the EB-5 visa program or any associated investments. The authors and publishers of this article are not responsible for any actions or decisions taken based on the information provided.
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