President Donald Trump recently introduced the “Trump Gold Card,” a new visa option. Foreigners can expedite their visa applications by paying $1 million, or companies can pay $2 million to sponsor a worker.
During a White House event, Trump expressed his excitement about this initiative. The official visa website promises “U.S. residency in record time.” To apply, individuals must pay a $15,000 processing fee plus the $1 million contribution after passing a background check. The approval process is expected to take only weeks and includes an interview.
Once approved, successful applicants will receive lawful permanent resident status under the EB-1 or EB-2 visa programs, which cater to individuals with extraordinary or exceptional abilities.
The website mentions a forthcoming “Trump Platinum Card” that will allow foreign nationals to remain in the U.S. for up to 270 days without paying taxes on their non-U.S. income, for a hefty fee of $5 million.
Trump’s immigration changes follow a recent crackdown that targets various forms of foreign entry into the U.S. This initiative was first mentioned in February, with a focus on providing a fast citizenship pathway for wealthy individuals.
Commerce Secretary Howard Lutnick mentioned that the Gold Card program modifies the existing EB-5 immigrant investor visa program, aiming to attract higher-caliber applicants. He emphasized that this program will focus on “extraordinary” people.
Critics question the feasibility of this program and raise concerns about its impact on traditional immigration methods. In terms of user reaction, there has been a blend of curiosity and skepticism on social media, particularly regarding the financial requirements.
This program aims to raise significant funds, potentially reducing the national debt by about $1 trillion, according to Lutnick.
Overall, this initiative reflects a shift in immigration policy that prioritizes wealth and exceptional talent while altering traditional pathways. For more detailed information about the Gold Card program, check out the official website here.
