US President Donald Trump has said he plans to sell 'golden' residency permits for five million dollars, and that Russian oligarchs will not be excluded from the scheme.
Trump introduced the program at the White House, saying that the purchase of this document will begin within two weeks.
"We have a green card, this is gold. We'll put a price tag on it at about $5 million," Trump said.
"The proceeds from the sales will be used to reduce the deficit," Trump said.
The program will be for "rich people" who can create jobs, the president said.
"For the rich and successful people, the ones who are going to spend a lot of money and pay taxes and employ a lot of people, and I think we're going to be extremely successful," Trump said.
Persons who will apply for this type of residence permit will be analyzed in detail.
"I know some Russian oligarchs who are good people. It's possible," Trump said.
"They're not as rich as they used to be, but I think they can afford five million dollars."
US Commerce Secretary Howard Lutnick told reporters that the "Trump Golden Visa" will replace the EB-5 immigration program, which was created by Congress in 1990 to generate foreign investment.
EB-5 visas are available to individuals who spend about $1 million in a company in the US and who employ at least 10 people.
Lutnick has said the new visa will increase the price to $5 million and will avoid fraud committed with the EB-5 program.
A study released by Congress in 2023 showed that many observers have concerns about fraud committed with the EB-5 program.
They have said that omissions occur when applicants fail to properly report income, identity, or fail to make investments.
More than half of the EB-5 visas in 2022 were allocated to citizens of China.
Trump has estimated that the US will be able to sell about one million golden visas./ REL (A2 Televizion)
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