President Donald Trump on Wednesday officially launched his “gold card” visa, a new immigration pathway that will allow foreigners to pay $1 million to expedite their visa application, or have companies pay $2 million to sponsor a foreign worker they want to bring into the US.
“Very excitingly, for me and for the country, we’ve just launched the ‘Trump Gold Card,’” the president said at a White House roundtable event.
The visa website, trumpcard.gov, launched Wednesday afternoon and includes a link of the official application, promising “U.S. residency in record time.”
“For a $15,000 DHS processing fee and, after background approval, a contribution of $1 million, receive U.S. residency in record time with the Trump Gold Card,” the official website reads.
How long will the ‘gold card’ process take?
Once the application materials are submitted, the process will take “weeks” and will include an interview, according to the site. Additional fees to the State Department may apply “depending on the applicant.”
“The applicant will need to attend a visa interview and submit any additional documents in a timely manner,” the website says.
The site notes a successful applicant will receive lawful permanent resident status as an EB-1 or EB-2 visa holder, employment-based visas awarded to individuals who have “extraordinary” or “exceptional” abilities.
Trump admin previews ‘platinum card’
The website also previews that a “Trump Platinum Card” is coming soon and invites foreign nationals to add their names to a waiting list. For $5 million dollars, the administration promises that eligible applicants will be able to “spend up to 270 days in the United States without being subject to U.S. taxes on non-U.S. income.”
“Foreign nationals can sign up now and secure their places on the waiting list for the Trump Platinum Card. When launched, and upon receipt of a $15,000 DHS processing fee and $5 million contribution, they will have the ability to spend up to 270 days in the United States without being subject to U.S. taxes on non-U.S. income,” the website reads.
The site does not specify when the platinum option will be available.
Officials criticize traditional immigration process
Trump’s latest immigration crackdown, prompted by the shooting of two National Guard members in Washington, DC, has halted or tightened every legal and illegal form of foreign entry to the US in recent weeks, but the president first announced the ‘gold card’ program in February.
Trump said at the time it would offer a citizenship pathway for wealthy foreigners in exchange for a $5 million dollar fee. He later signed an executive order in September directing the pathway’s creation with the same pricing arrangement released Wednesday.
Commerce Secretary Howard Lutnick said in February the visa would modify the government’s preexisting EB-5 immigrant investor visa program, which allows foreign investors to pump money into US projects that create jobs and then apply for visas to immigrate to the US.
“We will modify the EB-5 agreement,” Lutnick said. “(Homeland Security Secretary) Kristi (Noem) and I are working on it together. For $5 million, they’ll get a license from the Department of Commerce. Then they’ll make a proper investment.”
Immigration law experts previously said ending the EB-5 program or significantly changing it would require Congress to act.
Despite persistent questions about how the plan will be implemented, Trump has suggested millions of gold cards could be sold, and Lutnick said in February the plan could raise $1 trillion to pay down the national debt.
Lutnick has previously criticized the traditional green card process that allows immigrants to live and work permanently in the US, arguing it forces the country to take in the “bottom quartile” of immigrants.
“We’re going to only take extraordinary people at the very top,” Lutnick said.
