US Commerce Secretary: "Trump to Abolish US Investment Immigration Visa" (Update)

Announcing the Introduction of the Gold Card
Suggesting Possibility of Replacement

Donald Trump, President of the United States, held a press conference after signing an executive order in the White House Oval Office on the 25th (local time). /AFP News Agency·Yonhap News Agency

U.S. President Donald Trump announced that he will establish a 'Gold Card' system within two weeks, allowing individuals who invest more than $5 million to obtain residency and citizenship. This is expected to replace the existing investment immigration visa program, 'EB-5.'

On the 25th (local time), Bloomberg reported that President Trump signed an executive order in the White House Oval Office, stating, "We will sell Gold Cards."

President Trump also said, "The card price will be about $5 million, and it will provide permanent residency benefits."

Howard Lutnick, U.S. Secretary of Commerce, who was present in the Oval Office that day, suggested that this measure could abolish the existing EB-5 program. The EB-5 program allows immigrant investors to obtain permanent residency by investing a certain amount in businesses within the United States.

Secretary Lutnick criticized the EB-5 program, saying it is "full of nonsensical regulations."

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