“In order to grow the American economy, we must attract extraordinary people at the very top,” President Donald Trump stated, announcing a new immigration initiative that ties residency directly to investment. On Friday, the President signed an executive order establishing a new visa program, colloquially dubbed the “Gold Card,” aimed at drawing wealthy investors and highly skilled professionals to the United States.
What is the Trump Gold Card Visa Program?
The newly created program establishes a tiered visa system based on financial investment. Its primary goal is to attract capital and talent to stimulate the U.S. economy.
Gold Card (Individual): For a $1 million investment, an individual can obtain U.S. residency. This is targeted at foreigners with “extraordinary” abilities.
Trump Corporate Gold Card: For a $2 million investment, a company can sponsor an unspecified number of employees for visas. This option includes a transferable feature, allowing businesses to reassign the visa to different employees for a fee.
Platinum Card (Upcoming): A forthcoming tier for a $5 million investment that includes a significant tax benefit: recipients can spend up to 270 days per year in the U.S. without being taxed on their non-U.S. income.
How Does the Program Work?
The program, which is a public-private partnership, aims to speed up the process while maintaining security standards.
The Process: All applicants, whether individuals or corporate-sponsored employees, must undergo standard vetting by the Department of Homeland Security (DHS).
The Fees: Beyond the multi-million-dollar outlay, the program imposes a small annual maintenance fee along with a corporate card transfer fee.
Eligibility: Applicants must be eligible for lawful permanent resident status, be admissible to the United States, and have a visa number available. Like any visa, it can be revoked for national security concerns.
Also Read: Trump to Impose $100,000 Fee on H-1B Visas in Sweeping Overhaul
What is the Goal Behind the Program?
The administration has clear economic and immigration objectives for this initiative.
Revenue Generation: Commerce Secretary Howard Lutnick, who announced the program alongside President Trump, emphasized that the initiative aims to raise over $100 billion. These proceeds are intended to help fund tax cuts.
Immigration Overhaul: Part of Trump’s wider immigration strategy, the program couples tougher deportation policies with expanded routes for high-value, high-income immigrants.
Job Creation: The stated philosophy is to attract individuals who will create new jobs for American workers rather than compete for existing ones. The corporate card is directly aimed at enabling businesses to bring in top talent to grow their U.S. operations.
Also Read: Latest 6.0 Temblor Hits Off Russian Coast, Follows Major Earlier Quake
What Does This Mean for U.S. Immigration Policy?
This executive order signals a significant shift in policy focus.
Merit-Based vs. Family-Based: This initiative favors a merit-based approach, allowing immigrants in based on their economic contributions rather than personal or humanitarian factors.
A New Pathway: It creates a new, potentially faster pathway to residency for those with significant capital, operating alongside existing visa categories like the EB-5 investor visa.
