US announces Gold Card Investor Visa Programme for wealthy immigrants replacing the existing EB-5 visa

The United States  President Donald Trump has announced a new gold card investor visa programme for wealthy immigrants, replacing the existing EB-5 visa. Speaking at the Oval Office, Trump said the companies can buy immigration Gold Cards on payment of 5 million dollars for highly talented employees to deal with the uncertainties of work visas and green cards.  He described the initiative as green card privileges plus an upgrade from the green card system.  

Trump said it could deal



with the uncertainty of H-1B work visas for professionals and the wait of decades for green cards that people have to endure. 

Commerce Secretary Howard Lutnick said the Gold Card would replace the current programme known as EB-5 which gives immigration privileges to people who invest between 800 thousand dollars and 1.05 million dollars to create jobs depending on the areas they go to. The programme is expected to be launched in two weeks.