What Is a Green Card?
Let me tell you directly: a green card is just the common name for the identification card that U.S. Citizenship and Immigration Services issues to permanent residents. If you have one, you're legally allowed to live and work in the U.S. indefinitely. The name comes from the card's green color between 1950 and 1964, and it stuck even when they switched to blue, pink, and yellow versions in between. They went back to green in 2010, but the nickname never faded.
Key Takeaways
- The green card is a permanent resident ID issued to immigrants in the U.S.
- The green card lottery gives away up to 55,000 annual permanent visas to other countries.
- Permanent residents can be fined or jailed for not having their green card on their person.
- Cards must be renewed every 10 years.
How a Green Card Works
You can become eligible for a green card through several paths, including family ties, employment, refugee or asylee status, or special programs. One key option is the Diversity Immigrant Visa Program, which offers up to 55,000 visas each year via a lottery aimed at countries underrepresented in U.S. immigration. If you're an investor, putting in money above a specific threshold can also get you permanent resident status. That's how it functions in practice.
Requirements for a Green Card
If you're a permanent resident 18 or older, you must carry your green card with you at all times—failure to do so can lead to fines or even jail time. The penalty could be up to $100 or 30 days behind bars. These cards expire after 10 years, so you need to renew them, though cards issued from 1979 to 1989 don't expire. For conditional permanent residents who got their status through a recent marriage or investment, you have to file a petition to remove the conditional status 90 days before your green card expires.
Lottery System
The green card lottery is formally called the Diversity Immigrant Visa Program or Diversity Program (DV). It officially started in 1994, but similar programs ran since 1986 with smaller limits. The U.S. set this up to give countries with low immigration rates a shot at green cards, honoring America's identity as a cultural melting pot. Applications have been climbing, reaching about 23 million in 2018, but only around 116,000 applicants actually got visas that year. Right now, the program hands out over 55,000 visas annually. Countries sending more than 50,000 immigrants to the U.S. in the last five years can't participate. If your spouse wins, you win too, provided you're registered, and all unmarried children under 21 get green cards as well—but you must list your family on the application to qualify.
Other articles for you

Horizon analysis evaluates the projected returns of investments, especially bonds, over various time frames to determine optimal performance.

Legal tender is the officially recognized currency that must be accepted for debts and obligations in a country.

This text explains what qualifies someone as a tax dependent and the associated tax benefits like credits and exemptions.

Annualization converts short-term rates or returns into annual figures for better financial comparisons and projections.

The tertiary industry refers to the service sector of the economy that provides services rather than goods.

Realized gains are profits from selling assets above purchase price, creating taxable events, unlike unrealized paper gains.

Underinsured motorist coverage protects you financially when an at-fault driver's insurance is insufficient to cover your accident-related damages.

An upgrade is a positive shift in an analyst's view on a security's value due to better fundamentals.

A Normal-Course Issuer Bid (NCIB) is a program allowing Canadian public companies to repurchase and cancel their own shares to manage stock value and control.

A merger combines two companies into one new entity to enhance market share, reduce costs, or expand operations.