United States Launches ‘Gold Card’ Visa, Permanent Residency for $1 Million
President Donald Trump has announced a new executive order introducing the “Gold Card” visa program, allowing wealthy foreigners to obtain permanent residency in the United States.
The program aims to attract “exceptional” and “top-tier” individuals who can create businesses and employment opportunities for Americans. To apply, an individual must personally invest $1 million in the U.S. Treasury. If an American corporation sponsors a foreign worker, it must also contribute $1 million. This visa provides a streamlined path to U.S. citizenship for affluent applicants.
U.S. Secretary of Commerce Howard Lutnick said that historically, the employment-based green card program admitted about 281,000 people annually, earning an average of $66,000, with a higher likelihood of relying on government assistance. He stated, “We were bringing in the lowest-income individuals compared to the average American. That was unreasonable.”
Lutnick added, “We will stop that. We will only admit extraordinary and top-tier individuals who will create businesses and jobs instead of just taking employment. This program will generate over $100 billion in revenue for the U.S. Treasury.”
Applicants for the Gold Card visa will undergo a strict vetting process, with an additional $15,000 fee. A key requirement is that applicants residing in the U.S. must pay taxes on their worldwide income, which may deter some international investors.
Platinum Card Visa
In addition to the Gold Card, the Trump administration has proposed a “Platinum Card” visa costing $5 million. This visa allows foreigners to stay in the U.S. for up to 270 days without paying U.S. taxes on foreign income. Congressional approval will be required for this program.
Changes to H-1B Visa
Trump also announced that the H-1B visa application fee will now be $100,000. This measure aims to reduce reliance on foreign workers and protect jobs for Americans. Secretary Lutnick noted that large tech companies will now be encouraged to train American workers instead of bringing in foreign employees.
The new policy shifts U.S. immigration from a merit-based system to a wealth-based system. Critics argue it opens doors for rich immigrants while sidelining working-class applicants. Former Democratic official Doug Rand called the policy “absurdly illegal.”
However, White House Staff Secretary Will Scarf described the move as a way to prevent illegal immigration while creating opportunities for individuals who can contribute to the U.S. economy.
