United States President Donald Trump has unveiled the highly anticipated $1m Gold Card, a premium visa program targeting the world’s wealthiest immigrants for expedited residency and a pathway to citizenship.
Announced via executive order on Friday, Trump declared that the initiative is expected to generate billions in revenue while prioritizing high-value contributors to the American economy.
Speaking from the Oval Office alongside Commerce Secretary Howard Lutnick, Trump also described the $1m Gold Card program as a “game-changer” for legal immigration, emphasizing its role in fixing a “broken system” plagued by illegal entries.
“We’re talking about the best and brightest – the people who build empires and create jobs,” Trump declared, flanked by a mock-up of the gleaming gold-embossed card.
“They’re going to spend a lot of money to come in. It’s going to raise billions of dollars, billions and billions of dollars, which is going to go to reduce taxes, pay off debt, and for other good things.
“We’re going to be able to keep people in our country that are going to be very productive people, and in many cases, these companies are going to pay a lot of money for that, and they’re very happy about it.”
Speaking about the $1m Gold Card, Lutnick said the program will also include a rigorous vetting process with a $15,000 processing fee.
Lutnick added that there will be 80,000 available for purchase. According to him, the price will be increased to $2 million if a corporation sponsors an employee.
He estimated that the Gold Card program will bring in more than $100 billion and the Platinum Card will bring in $1 trillion for the U.S. Treasury, which will be used to reduce debt.
“We’re going to only take extraordinary people at the very top,” he said. “Instead of people trying to take the jobs from Americans, they’re going to create businesses and create jobs for Americans.”
Also, Trump’s administration has launched a website where individuals can pay $1 million, along with a processing fee, and, after being vetted.
“The Trump Corporate Gold Card allows your business to transfer access from one employee and grant it to another, with the cost of a transfer fee and DHS vetting. A small annual maintenance fee will also apply,” the website said
The website added: “01 Submit Your Application
Your opportunity begins here, with your application and a nonrefundable processing fee. This is the first step to securing the Trump Gold Card.
“02 Careful Consideration
United States Citizenship and Immigration Services facilitates an in-depth background check and process to vet the potential cardholder.
“03 Approval
Once an applicant is approved, a Trump Gold Card will be available for use throughout all 50 states and territories.”
Another option, the Trump Platinum Card, is coming soon, according to the website. The platinum card will come with a $5 million price tag and allows an individual to “spend up to 270 days in the United States without being subject to U.S. taxes on non-U.S. income.”
Individuals who get the platinum card will not have a pathway to citizenship, the website said.
However, Immigration attorney J. Mike Sevilla said the change to H1-B applications will hurt several industries.
“A $100,000 fee for H-1B petitions would be devastating to several industries as it would significantly prohibit the hiring of foreign national talent in this visa classification. Practitioners are eager to see how much truth there is to this report and to evaluate the details to best advise their clients,” Mr. Sevilla said.
