trump gold card
In America, President Donald Trump’s much talked about Gold Card Visa scheme is not gaining momentum as per expectations. Legal, financial and ethical concerns are now rising over this program, which was launched with the promise of providing fast US residency to wealthy foreign investors. Many big immigration lawyers have advised their clients to stay away from this scheme.
The Trump administration had pitched the scheme as a premium immigration pathway, offering special residency benefits to foreign nationals who invest $1 million to $5 million, but recent government data shows interest in the scheme has been limited. According to reports, only 338 requests were submitted so far, out of which only 165 people paid the non-refundable processing fee of $15,000. Only 59 applicants could reach the further process.
Why are people keeping distance?
Immigration law experts say that the biggest weakness of this scheme is its legal basis. Unlike the traditional EB-5 investor visa program, it is not approved by Congress but is implemented through executive action. This is why many lawyers fear that any administration in the future may abolish it.
Prominent immigration attorney Michael Wildes publicly stated that he would refuse to take cases against Gold Card applicants. According to him, there is so much uncertainty about the validity and future of this program that it would be unethical to involve clients in it. Experts say that the current EB-5 program is considered a much safer and reliable option for investors. Under this program, foreign citizens can obtain green cards by investing at least $800,000 in American projects, provided they create jobs.
Confusion increased due to changing prices
The confusion regarding the Gold Card scheme has also increased due to its changing prices. Different administration officials sometimes quoted the investment amount as $1 million and sometimes as much as $5 million. Additional charges and processing fees for family members have also raised concerns among investors.
The Trump administration claims that this plan can bring billions of dollars of revenue for America, but the figures so far are proving this claim weak. Despite this, wealthy citizens of some countries are still showing interest in this program, especially those who come from countries with strict immigration rules.
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