Donald Trump announced that his promised “Gold Card” is now officially for sale. It offers legal status and an eventual path to U.S. citizenship for individuals who pay $1 million and $2 million, and corporations that pay double for each foreign-born employee.
According to Kristi Noem, Secretary of Homeland Security, “This historic program fulfills President Trump’s promise to attract the world’s most successful entrepreneurs and investors to the United States. It also ensures they actively participate in the project.”
“A direct path to citizenship for all qualified and vetted individuals. How exciting! Our great American companies can finally retain their invaluable talent,” Trump wrote on social media.
A website accepting applications went live as Trump announced the program’s launch, surrounded by business leaders in the White House’s Roosevelt Room. Its goal is to replace the EB-5 visas, created by Congress in 1990 to attract foreign investment. These were available to those who invested roughly $1 million in a business with at least 10 employees.
Trump views the new version as a way for the U.S. to attract and retain top talent while generating revenue for federal coffers. He has spent months promoting the Gold Card program and once suggested each card would cost $5 million. However, he recently adjusted the price to $1 and $2 million.
Under a September executive order, individuals must pay $1 million, while companies sponsoring employees must pay $2 million. Companies must also pay an annual maintenance fee of 1%, equivalent to $20,000, and a 5% transfer fee, equivalent to $100,000, each time they wish to switch an employee’s visa to another.
The program emerges as the Trump administration dedicates significant resources to deporting millions of undocumented immigrants. The Gold Card program has already faced strong criticism for contradicting the U.S.’s traditional reputation as a refuge for low-income workers.
According to the official website, a “Trump Platinum Card” will soon be launched. This card will allow holders to spend up to 270 days in the U.S. without being subject to taxes on non-U.S. income. It will cost $5 million.
Trump stated that the funds raised through the new program will go toward “an account where we can do positive things for the country” and will generate “many billions of dollars.”
Image: Opinion
