Donald Trump has signed an executive order launching the US 'Gold Card' visa program, offering permanent residency for wealthy applicants at a cost of $1 million for individuals and $2 million for businesses sponsoring foreign employees.
Key details of the 'Gold Card Program'
The Gold Card visa is a new immigration plan prioritising wealthy individuals and businesses, replacing the EB-1 and EB-2 employment-based green card categories. There are 80,000 visas available annually, and applicants must undergo standard processing and background checks. This initiative is expected to generate billions in revenue for the US Treasury.
Individual applicants pay $1 million (about Rs 8.5 crore) for US permanent residency. Corporations can pay $2 million per sponsored employee and are able to transfer sponsorship to another employee, subject to transfer fees and Department of Homeland Security vetting. The program offers a direct and expedited path to permanent residency and eventual citizenship.
Other visa options
A proposed "Platinum Card" visa, costing $5 million, allows holders up to 270 days in the US per year without being taxed on non-US income. This tier is still under development, with additional benefits targeting ultra-high-net-worth individuals.
Government perspective and goals
Officials say the Gold Card's high fees will only attract "extraordinary individuals at the pinnacle of their fields" who can provide substantial value to the US economy and job market. Trump characterised these fees as similar to signing bonuses in professional sports, aimed at retaining top global talent. The program is part of a broader move to restrict lower-income immigration and boost legal pathways for the ultra-wealthy.
Legal considerations and reception
The program is expected to face legal scrutiny regarding the sale of visas, as it is unprecedented in terms of price and priority shift compared to other "golden visa" programs worldwide. Immigration experts note that while Trump projects selling up to one million cards, actual demand from those able to pay such sums is likely much lower.