Why in News?
The U.S. launched the Trump Card visa, offering permanent residency for a $5 million investment, aiming to replace the EB-5 visa and raise $1 trillion for the Treasury.
Description:
1. What is the Trump Card: It is a new visa scheme launched by the U.S. Department of Commerce, offering permanent residency to foreigners in exchange for a $5 million investment.
2. Objective of the Scheme: It aims to raise $1 trillion by issuing up to 200,000 cards, helping to reduce the U.S. budget deficit and boost the Treasury.
3. Replacement of EB-5 Visa: The Trump Card is proposed as a replacement for the EB-5 visa, which currently grants green cards to foreigners investing $1 million (or $800,000 in some areas) in U.S. businesses.
4. Features of the Card
- Provides residency and work rights.
- Offers a path to U.S. citizenship.
- Requires no usual immigration hurdles.
- Meant for wealthy individuals.
5. Â Launch and Promotion: The idea was announced by Donald Trump in February 2025, and promoted via a gold-coloured sample card shown aboard Air Force One.
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