All About the Proposed “Gold Card” Immigration Visas in the U.S.

There is no question that the U.S. Immigration system is highly complex and constantly changing. Recently, President Donald Trump announced a new immigration initiative to attract wealthy foreigners to invest in the U.S. Essentially, foreigners who commit to a substantial financial investment in the country will be given a pathway to obtain permanent residency and then citizenship.

If you are determining what the right approach is for permanent residency and citizenship in the United States, the new Gold Card Visa could be right for you. However, the program is not in effect yet, and some legal minds question the President’s ability to create an immigration visa alone. Some say only Congress has the power to do that. Still, even if the Gold Card becomes a lawful and legitimate way to come to the country, the hefty price tag is likely to make it cost-prohibitive for many foreigners who do not have the financial means to utilize this option.

Speaking with an Atlanta citizenship immigration attorney at Shirazi Immigration Law, Inc. can help you understand your rights and what pathways will work best for your specific needs and immigration goals, even if it is to potentially utilize a future Gold Visa.

Obtaining a Gold Card in the United States 

The “Trump Gold Card,” as it has been referred to, is meant to replace the existing EB-5 Immigrant Investor Program. With the new EB-6 Gold Card Visa, affluent foreigners can purchase the new Gold Card for $5 million. In addition, applicants must document and prove the source of their funds comes from legal activities while also meeting other screening criteria to confirm their qualifications as eligible investors. Applicants will also be thoroughly vetted and have a background check to ensure they are decent global citizens.

Many Countries Offer Gold Citizenship 

While the idea of buying a card that leads to citizenship may be new and unfamiliar to many Americans, several countries have been offering a similar immigration model targeting wealthy foreigners’ investments to stimulate economic growth and greater financial stability.

For example, in Portugal, the Golden Visa Program is meant for non-EU foreigners to be given residency in exchange for investment into the country through monetary contributions, critical technical research, job creation, or capital transfer. In Turkey, a foreigner can purchase real estate that costs $400,000 or more and maintain ownership of it for a minimum of three years to obtain citizenship. Turkey also allows a deposit of 500,000 in a Turkish bank for at least three years to be granted citizenship. Greece, Spain, Malta, St. Kitts and Nevis, and Dominica are other notable countries with such immigration programs.

Speak with an Atlanta Immigration Attorney Today 

The future is still unclear as to whether the U.S. will officially join other countries in offering a Gold Visa, but the Trump administration has already shown early in this term that it is committed to making bold changes it believes will improve the country’s operations.

For a consultation to discuss your immigration needs and case, please call Shirazi Immigration Law, Inc. at 404-523-3611. One of our Atlanta, GA, immigration lawyers is here to help.

Source:

uscis.gov/working-in-the-united-states/permanent-workers/eb-5-immigrant-investor-program