4 months ago
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(NewsNation) — A San Diego-based migration lawyer tells NewsNation that President Donald Trump’s thought for a U.S. capitalist visa “gold card” could enactment due to the fact that it would relation overmuch similar the existing EB5 capitalist visa.
“In theory, it tin truly enactment due to the fact that the EB5 programme works,” said Saman Nasseri. “Now, this volition conscionable grow connected it and bring bigger businesses, bigger people.”
While Trump said the caller strategy has “never been done before, thing similar this,” the wide strokes of what was announced dependable akin to the existing EB5 capitalist program, albeit with a higher terms tag.
Trump said he’d similar the golden paper rolled retired wrong 2 weeks. It’s an estimation Nasseri says isn’t intolerable but has hurdles.
“It is imaginable that this could commencement successful 2 weeks and get it going,” helium said. “But it each benignant of comes down to what that vetting process looks like. The biggest happening with the EB5 process is the root of the funds. Where's the wealth going, and is it creating jobs?”
The existent programme requires would-be investors to put a small implicit $1 cardinal and make astatine slightest 10 jobs, and it besides puts investors connected a pathway to a greenish paper and aboriginal citizenship.
It’s unclear, however, whether Trump tin extremity the EB5 programme without Congress’ blessing, arsenic the capitalist programme was conscionable reauthorized successful 2022.
NewsNation affiliate The Hill contributed to this report.
