President Donald Trump on Wednesday officially initiated his “gold card” visa, a novel immigration channel that will permit foreigners to remit $1 million to hasten their visa submission, or have corporations remit $2 million to sponsor an overseas worker they wish to bring to the US.
“Very excitingly, for me and for the nation, we’ve just launched the ‘Trump Gold Card,’” the president stated at a White House roundtable assembly.
The visa web portal, trumpcard.gov, debuted Wednesday afternoon and contains a hyperlink to the formal application, assuring “U.S. residency in swift time.”
“For a $15,000 DHS processing charge and, after background approval, a contribution of $1 million, attain U.S. residency in swift time with the Trump Gold Card,” the official website states.
How long will the ‘gold card’ procedure require?
Once the application materials are tendered, the procedure will take “weeks” and will encompass an interview, according to the site. Additional charges to the State Department might be due “depending on the applicant.”
“The applicant will need to attend a visa interview and present any supplemental paperwork in a timely fashion,” the website mentions.
The site observes a successful applicant will secure lawful permanent resident status as an EB-1 or EB-2 visa holder, employment-based visas granted to individuals possessing “extraordinary” or “exceptional” capabilities.
Trump administration forecasts ‘platinum card’
The website also anticipates that a “Trump Platinum Card” is forthcoming and invites foreign nationals to affix their names to a waiting roster. For $5 million dollars, the administration assures that qualified 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. revenue.”
“Foreign nationals can sign up now and reserve their spots on the waiting roster for the Trump Platinum Card. When inaugurated, and upon receipt of a $15,000 DHS processing charge and $5 million contribution, they will possess the capacity to spend up to 270 days in the United States without being subject to U.S. taxes on non-U.S. revenue,” the website reads.
The site does not specify when the platinum alternative will be accessible.
Officials critique conventional immigration procedure
Trump’s newest immigration tightening, spurred by the shooting of two National Guard members in Washington, DC, has halted or restricted every legal and illicit form of foreign entry to the US in recent weeks, but the president initially unveiled the ‘gold card’ program in February.
Trump said at the time it would furnish a citizenship route for affluent foreigners in return for a $5 million dollar fee. He subsequently signed an executive order in September directing the route’s formation with the same pricing arrangement revealed Wednesday.
Commerce Secretary Howard Lutnick remarked in February the visa would adjust the government’s preexisting EB-5 immigrant investor visa program, which permits foreign investors to inject capital into US projects that generate jobs and then seek visas to immigrate to the US.
“We will adjust the EB-5 accord,” Lutnick stated. “(Homeland Security Secretary) Kristi (Noem) and I are collaborating on it. For $5 million, they’ll gain a license from the Department of Commerce. Then they’ll make a proper investment.”
Immigration law authorities previously asserted ending the EB-5 program or substantially altering it would necessitate Congress to take action.
Despite continuous inquiries about how the strategy will be put into effect, Trump has indicated millions of gold cards could be marketed, and Lutnick said in February the plan could generate $1 trillion to reduce the national debt.
Lutnick has previously condemned the traditional green card process that permits immigrants to reside and work permanently in the US, contending it compels the country to accept the “lowest quartile” of immigrants.
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