Can a ‘gold card’ program visa spur investment in the U.S. economy? Boston 25 News [Video]

NEW YORK — (AP) — President Donald Trump is planning a “gold card” visa with a potential pathway to U.S. citizenship for $5 million.

The program would replace an existing program that offers U.S. visas to investors who spend about $1 million on a company that employs at least 10 people. And it echoes similar “golden visa ” programs in countries such as Canada, New Zealand, Malta and others that have allowed participants to pay a fee or make an investment in order to secure a pathway to residency in desirable places.

“Golden visa” programs all have different frameworks and paths to permanent residency and have had mixed results in spurring investment in a country’s economy.

Who will qualify for a ‘gold card’?

Commerce Secretary Howard Lutnick has said Trump’s gold card would replace an existing program in two weeks, so details about who would qualify and what the application process would look like should be available before then. For now, all Trump has …