Golden cards: Trump's $5M residency plan for wealthy investors
Donald Trump announced that the U.S. would sell golden residency cards for $5 million. He mentioned that Russian oligarchs would be able to use them. Experts claim that this is another rhetorical move by Trump with a different goal—altering the U.S. immigration system.
Donald Trump and the Secretary of Commerce, Howard Lutnick, announced the introduction of so-called golden cards, which will enable foreigners to settle permanently in the United States. The cost of such a card is set at $5 million. The President of the U.S. emphasized that the program is aimed at attracting investors who will contribute to the country's economic growth.
Trump and "golden cards" for Russian oligarchs: "They can afford it"
He did not rule out that among those who might use the offer are Russian oligarchs. "Yes, it's possible. I know some Russian oligarchs, and they are very nice people. They are not as wealthy as they used to be, but I think they can afford $5 million. So many people will want to come to this country," Trump summarized in his style.
Howard Lutnick stated that the EB-5 visa program, which grants investors and their families green cards, will be discontinued. He added that it will be replaced with Trump's "golden card," which will function as a green card.
Trump shocks again; experts offer reassurance
We asked experts about the surprising words of the President regarding Russian oligarchs. Dr. Michał Kuź from the Jagiellonian Club has no illusions that this is another rhetorical exchange from Trump aimed at the President of Ukraine.
This is characteristic of Trump's rhetorical provocations. "Golden cards" will replace green cards, and they are not just for Russian oligarchs. On the final stretch of negotiations regarding Ukrainian minerals, he made a sarcastic comment about Zelensky, assesses Dr. Michał Kuź.
He points out that this type of visa, allowing foreign investors to acquire American citizenship upon meeting certain conditions, has already existed for foreign investors entering the U.S. market. Can Trump introduce "golden cards" bypassing the U.S. Congress? "This can be challenged in court, but theoretically, he can do it," the expert assesses.
Publicist Rafał Michalski, an expert on the U.S. political system, notes that Donald Trump views Russia and Ukraine on different levels. "He sees Russia as a country with global influence but also in the Chinese orbit, and China is America's primary opponent."
When asked about the proposal for so-called golden cards for Russians, he emphasized that the U.S. is struggling with a migration crisis, and Trump links it to creating business-friendly conditions in America. "There are thousands of backlogged cases in the courts. Previously, we had so-called investor visas - a businessperson who invested $1,050,000 (approximately 1.4 million CAD) and created a minimum of ten jobs in the U.S. received a positive opinion from, among others, the SEC (U.S. Securities and Exchange Commission - editor's note) and could obtain a green card," explains Rafał Michalski.
Donald Trump wants to show that the U.S. is a country that invites all investors. There's a broad deregulation program in Texas, Ohio, and Florida. We have announcements of tariffs to encourage investors to set up businesses in the States. We see that this policy of protecting American capital goes far. I don't recall such announcements from previous presidents, not even during Trump's first term, comments the expert on American politics.
Dubisz: separate Trump's words from real actions
"I separate what is said by the President of the U.S. and resounds in the media from real actions. American aid is still ongoing. We have confirmation of the mineral agreement. The first documents in this matter are a memorandum," emphasizes Oleg Dubisz, chairman of the Polish-Ukrainian Chamber of Commerce.
Dubisz points out that the American-Ukrainian agreement still "lacks specifics regarding security guarantees," which Ukraine is waiting for. "President Zelensky is expected to visit the U.S. on this matter. By that time, it should be clarified," Dubisz assesses.
"Golden cards" bypassing Congress?
According to Rafał Michalski, whether Trump will introduce "golden cards" without Congress's approval is unclear. At a systemic level, Trump cannot suspend the visa system. The definition of a citizen does not include one who pays $5 million for a golden card. "I believe this will be an attempt to amend the current immigration program, changing its name," Michalski comments.
He specifies that the U.S. has a 1990 law regarding this issue and an immigration program that cannot be abolished. "The U.S. Supreme Court has always maintained that the executive branch does not have the unilateral right to allocate funds independently. Congressional approval is necessary," the expert reminds us.
Trump's new initiative aims to reduce the budget deficit. Similar programs exist in other countries but are controversial. In the U.S., "golden cards" are supposed to be available in two weeks, although implementing them without Congress may face legal and political obstacles.
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