President Donald Trump’s recently launched Gold Card initiative has generated interest among foreign nationals, immigration attorneys say, even though many details are uncertain and wealthy applicants face pros and cons in pursuing this path to the United States.
The Trump administration created the Gold Card to allow foreign nationals to purchase legal status in the United States for $1 million, and the portal for applications went online on Dec. 10.
Steven Reingold, a trial attorney with law firm Saul Ewing, said the Green Card substantively appears to be an alternative to the EB-5 visa, which grants foreign investors permanent residency in the United States if they agree to invest high-level capital into a U.S. commercial enterprise that creates or preserves jobs.
