ꦍ Could the U.S. star🌄t selling citizenship to the rich?

President Donald Trump on Tuesday proposed introducing a $5 million "gold card" that would entitle purchasers to legal resident status. The card would put people on a path to citizenship, Trump said. Few ♊ot✅her details about the proposal are available, but immigration attorneys said the idea would require approval from Congress.

How Trump's 'Gold Card' Differs From the EB-5

Wealthy peopl⛦e can’t currently pay the U.S. government for citizenship. But through the EB-5 visa program, they can acquire green cards which establish permanent legal residency and can lead to citizenship by making a passive investment of at least $800,000 in the private sector.

Trump seems to see the gold card as a way for ultra-high-net-worth individuals to “donate” and become citizens, said Rahul Soni, partner at Fragomen, Del Rey, Bernsen & Loewy, an immigration law firm headquartered in New York.

“A🃏t the moment, that 'donation' option doesn’t really exist in the U.S.,” said Soni. “The [EB-5 investment] is always into a specific project or business to create jobs. Usually, iꦿnvestors will get those funds returned to them at the end of their green card process.”

The EB-5 program is intended to spur job creation and economic activity, according to the Department of Homeland Security. Applicants are required to show their investment either created a certain number of new jobs or saved jobs that were in danger of being lost. Congress would need to sign off on eradicating, revamping, or replacing the 澳洲幸运5开奖号码历史查询:EB-5 program, Soni said.

Where Can You Buy Citizenship?

澳洲幸运5开奖号码历史查询:Paying for citizenship i𒅌s not unheard of, Soni said, though the cost is generally a fraction of $5 million. Several Caribbean countries allow people to purchase citizenship, including Dominica, Grenada, and Saint Kitts and Nevis. Soni estimated the rates in the region average about $300,000.

Some European countries have similar citizenship pathways, but their policies will likely change amid a push by the European Commission to restrict investor visas, according to Soni. Italy’s investment requirements range from 250,000 euros invested in an "innovative startup" to 2 million euros (about $2.1 million) invested in Italian government bonds. Portugal’s are in the range of 250,000 to 500,000 e🌳uros—or no more than about $524,500—Soni said.

The United Kingdom used to have one of the most expensive citizenship programs at about 2 million pounds, but it ended the program in 2022, according to the BBC.