United States President Donald Trump has unveiled a new visa programme called the Gold Card, aimed at attracting wealthy foreigners willing to pay at least one million dollars. Trump described the initiative as a direct path to American citizenship for those who qualify and said it would help companies retain skilled workers. He announced the scheme on social media on Wednesday and called it an exciting step for the country.
The Gold Card programme offers rapid access to US residency. According to its official website, applicants must pay a one million dollar fee, which will be treated as proof that they will make a significant contribution to the United States. Companies sponsoring foreign employees will be required to pay two million dollars. A more expensive platinum version of the card is expected soon at five million dollars. Holders of the platinum card will be allowed to spend up to 270 days a year in the United States without paying tax on income earned outside the country.
Individuals applying for the Gold Card must also pay a non-refundable processing fee of fifteen thousand dollars to the Department of Homeland Security. The card will provide the right to live and work in the United States. Trump has argued that the new visa will help the country attract and keep talented individuals while generating substantial revenue for the Treasury Department. He has said that all money collected through the programme will go to the US government and predicted that billions of dollars will flow into the Treasury, which he claims will support national development.
The Gold Card is set to replace the long-standing EB-5 investor visa scheme. The EB-5 programme, created in 1990, required foreign nationals to invest around one million dollars in a project that created at least ten jobs in the United States. Under the new system, Gold Card recipients will receive permanent resident status as EB-1 or EB-2 visa holders.
The EB-1 category is intended for priority workers such as individuals with exceptional achievements in science, the arts, education, business or athletics. It also includes outstanding professors, researchers and certain senior executives of multinational companies. The EB-2 category is for applicants with advanced degrees or exceptional ability, including those seeking a national interest waiver. The introduction of the Gold Card does not affect the H1-B visa programme, which remains the primary route for skilled foreign workers employed by American companies.
The Trump administration is presenting the Gold Card as a new version of the green card for wealthy individuals. It offers permanent residency and the option to apply for citizenship. Trump has described it as a stronger and more powerful path compared to the existing green card system. He said the programme specifically targets high-level professionals and productive individuals who can contribute to the economy. He added that applicants who can pay five million dollars are likely to create jobs and predicted that demand for the Gold Card will be high.
The traditional US green card, by contrast, is open to a much wider group of people. Permanent residency can be obtained through family sponsorship, employment, or humanitarian programmes such as asylum and refugee protection. Green card holders gain several benefits, including access to social security, Medicare, financial aid for higher education and the opportunity to serve in the military. They can apply for citizenship after five years of residency, or three years if married to a US citizen, provided they meet the physical presence requirement.
The Gold Card does not require any job creation from individuals or companies that pay for the visa. Trump has not announced whether there will be a cap on the number of visas available. Both job creation rules and annual limits are part of the existing EB-5 system, which the Gold Card is intended to replace.