Trump unveils “Gold Card” fast-track visas for $1 million
President Trump has made headlines once again with the signing of an executive order introducing a new “Gold Card” visa program. This program offers fast-track visas to individuals willing to invest $1 million or more in the United States. The official government website for the program, trumpcard.gov, features a striking image of a gilded card adorned with Mr. Trump’s photo, signature, and patriotic symbols, inviting individuals to “Unlock life in America.”
The Gold Card program, initially proposed by Mr. Trump in February, allows non-Americans to obtain an immigrant visa through an expedited process by making a gift of at least $1 million to the Commerce Department. Corporations can also sponsor individuals for Gold Cards by contributing at least $2 million. Commerce Secretary Howard Lutnick has announced that approximately 80,000 Gold Cards will be available, with the program currently in the implementation phase.
Upon approval by the State Department and Department of Homeland Security, individuals who receive a Gold Card and pay a $15,000 vetting fee will be granted lawful permanent resident status, commonly known as a green card. This new program will replace the existing EB-1 and EB-2 visa programs, which are reserved for individuals with exceptional abilities in various fields.
Lutnick emphasized the value that individuals bring to the United States by investing $1 million, stating, “You can prove exceptional value for the United States of America by contributing $1 million to the United States of America. That’s a pretty good expectation that they’re highly valuable.” He also mentioned that the other visa categories for green cards are likely to be suspended in favor of the Gold Card program.
In addition to the Gold Card, the administration is considering introducing a “Platinum Card” that would allow individuals to spend up to 270 days in the country without paying taxes on their non-U.S. income. However, this program would not offer a pathway to citizenship and would require approval from Congress before implementation.
On a separate note, President Trump also signed an executive order imposing an extra $100,000 fee for individuals seeking entry to the U.S. on an H-1B visa. This move aims to address concerns about the H-1B program potentially undercutting U.S. workers by hiring foreign applicants at lower salaries. Supporters of the program argue that it is crucial for industries like tech, where qualified U.S. workers are in high demand.
When asked about the impact of the new H-1B fee on tech companies, President Trump expressed confidence that they would be pleased with the changes. He highlighted the importance of retaining productive individuals in the country and emphasized that companies would be willing to pay for skilled workers.
Overall, these executive orders signal a significant shift in U.S. immigration policy, with the introduction of the Gold Card program and changes to the H-1B visa system. The impact of these measures on the economy, workforce, and immigration landscape remains to be seen as the programs are implemented and evaluated.
