President Donald Trump’s administration has launched a new, expedited visa processing plan for foreigners willing to “contribute” $1 million (€855,000) toward U.S. residency.
The “Gold Card” is being offered as an upgrade to the so-called Green Card, which grants immigrants permanent residence in the US.
What did Trump say about the new gold card?
“Basically, it’s a green card, but much better. Much more powerful, much stronger,” Trump told reporters at the White House on Wednesday.
“The way out is a big deal. Gotta be a great man,” said the president, who has sharply cut off access to other ways to immigrate to the US.
In a post on his Truth social platform, Trump said the Gold Card would provide “a direct path to citizenship for all eligible and vetted people.”
“Our great American companies can finally retain their invaluable talent,” Trump said.
Visa promises ‘Platinum Card’
Trump first announced the plan earlier this year. On Wednesday, the trumpcard.gov website launched, allowing applicants to pay a $15,000 fee to the Department of Homeland Security for expedited processing.
The website reads, “For a $15,000 DHS processing fee and, after background approval, a $1 million contribution, obtain U.S. residency in record time with the Trump Gold Card.”
Commerce Secretary Howard Lutnick said 10,000 people have already registered and estimated the program could raise billions of dollars. Businesses can apply for a $2 million “Corporate Gold Card” to sponsor employees.
According to the website, the “Trump Platinum Card” worth $5 million will allow holders to stay in the US for up to 270 days without paying taxes on foreign income.
US immigration restrictions tightened
The move comes as the Trump administration continues its crackdown on immigration, including Immigration and Customs Enforcement raids, detentions of thousands of people and deportation of people in the country illegally.
It has also halted immigration applications for people from more than a dozen countries, mostly from Africa and the Middle East.
The US government is also introducing new procedures for visa-free travelers, including requiring tourists to give border agents access to their social media accounts before entering the country.
The administration is pressuring some universities to reduce foreign enrollments. But officials say the gold card offers companies a way to retain foreign students after graduation.
“With the new card, you’ll be able to buy a card and keep that person in the United States,” Trump said.
Edited by Carl Saxton