President Trump established the Golden Visa program to attract wealthy immigrants. The program will replace the EB-5 visa program, created in 1990, as a route to American citizenship for those willing to invest $1 million in an American company. Updated criteria now require a $5 million investment for fast-tracked citizenship, and the program has proved to be extremely popular.
Over 1,000 Gold Visas were purchased on the first day this policy was implemented, bringing $5 billion into the US economy. This is merely the beginning of the money that this program will generate. These individuals are far more likely to bring businesses to the US, leading to new job opportunities and, of course, lifelong and post-mortem taxation.
This program does not instantly grant US citizenship, but it is a faster pathway. Critics say they do not want to sell off American citizenship to the highest bidder, but a similar program was already in place. They believe Trump is simply favoring the wealthy while denying the poor opportunities, but they’re missing the mark. The majority of those in opposition favored open borders and demanded that everyone have access to the land of the free, regardless of how their presence would impact existing citizens. Immigration is possible through legal pathways. We were simply allowing an infinite number of people to cross into our nation, unvetted, and then demanded taxpayers subsidize their lives. It was a financial nightmare that quickly toppled state budgets and caused a drain on our entire system from health care to housing. These individuals applying for the Golden Visa can profoundly contribute to our economy, and their presence is the precise opposite of illegal migration, as they are providing opportunities for others through investments and job creation.
The program will be capped at 10,000 Golden Visas annually, according to the US State Department, and an additional 3,000 slots will be set aside for those willing to invest in areas facing low employment rates that need the capital and are currently void of job opportunities for many resident who do not have the ability to move elsewhere. There is a background check process in place so we know who these people are and their intentions for immigration. Around 12,000 EB-5 Visas were issued last year alone at the $1 million price tag. At $1 million, you’re not necessarily attracting business but merely wealthier individuals.
The most expensive visa program in the world has become an instant success, highlighting the desire for smart money to seek safety in the United States. Capital and people are flowing into the United States, which, despite its troubles, remains the world’s economic powerhouse and land of opportunity.
