The former President, Donald Trump, has officially inaugurated an immigration program that offers significantly expedited access to United States visas for affluent foreign nationals who are capable of investing a minimum of $1 million (£750,000).
💰 A Direct Path for Wealthy Talent
The newly established card is intended to grant purchasers a "direct path to Citizenship for all qualified and vetted people. SO EXCITING! Our Great American Companies can finally keep their invaluable Talent," Trump announced via a post on his social media platform on Wednesday.
Dubbed the Trump Gold Card, the initiative was first publicly mentioned earlier in the year. According to the scheme's official informational website, it is a specialized US visa bestowed upon individuals who can definitively demonstrate that they will confer a "substantial benefit" upon the nation.
This new program is being rolled out at a time when the administration is simultaneously intensifying its overall efforts to curb immigration, which includes implementing measures such as increasing fees for work visas and escalating the deportation of undocumented migrants.
💳 Investment and Fees Structure
The Gold Card scheme explicitly pledges to grant US residency in "record time" and mandates an associated fee of $1 million. This substantial fee, the program's official website clarifies, serves as "evidence that the individual will substantially benefit the United States."
For corporations or businesses seeking to sponsor foreign employees through this route, the required investment fee is set at $2 million, in addition to other potential charges. Furthermore, a "platinum" version of the card, which is advertised to offer exclusive tax benefits, is also slated to become available shortly for a price of $5 million, the website indicated.
The official site also noted that supplementary administrative fees payable to the government may be levied, contingent upon the specific circumstances of each individual applicant. Crucially, applicants are also required to remit a non-refundable processing charge of $15,000 before their application package is submitted for official review.
💡 Criticism and Program Rationale
The Gold Card initiative has drawn considerable criticism since its initial public announcement in February, with some members of the Democratic party expressing concerns that the program would unduly privilege wealthy individuals over others.
When Trump initially unveiled the plan, he characterized these specific visas as being analogous to the standard green cards, which permit immigrants of diverse income levels to reside and work permanently within the US. Holders of green cards typically become eligible to apply for full citizenship after a mandatory period of five years.
However, the President stressed that the Gold Card is specifically tailored for "high-level" professionals, emphasizing the goal: "we want people that are productive."
Trump defended the high cost, arguing, "The people that can pay $5m, they're going to create jobs," and confidently predicted, "It's going to sell like crazy. It's a bargain."
🌍 Concurrent Immigration Policy Shifts
The introduction of this scheme occurs amid the Trump administration's ongoing dedication of significant financial and personnel resources toward the deportation of immigrants.
The United States government has also imposed a temporary suspension on all immigration applications originating from the 19 countries, primarily situated in Africa and the Middle East, that are currently subject to the president's contentious travel ban.
Additionally, the administration has placed a halt on all final decisions concerning asylum applications and has announced its intention to comprehensively review thousands of cases that were granted approval during the tenure of President Joe Biden's administration.
In a related move in September, President Trump also signed an executive order establishing a $100,000 fee for applicants of the H-1B visa program, which is designed for highly skilled foreign workers.
This particular decision generated widespread alarm among overseas students enrolled in US institutions and technology companies. The White House subsequently issued a clarification, stating that the substantial fee would only be applicable to new applicants who are currently residing outside the United country.
0 Comments