Donald Trump unveiled a new initiative that will enable affluent foreigners to purchase a US “golden visa” for $1 million and a “platinum” version for $5 million.

Interestingly, on Wednesday, Trump declared on Truth Social platform, “A direct path to citizenship for all qualified and vetted people. SO EXCITING! Our Great American Companies can finally keep their invaluable talent.”

With the new “Trump Gold Card,” an official government website promises US residency “in record time” after applicants have paid $1 million, passed a background check and paid a $15,000 processing fee to the Department of Homeland Security (DHS).

The Initiatives' Greater Significance

A September presidential order mandates that individuals pay $1 million, while companies that sponsor employees must pay $2 million. Then, companies must pay a $20,000 yearly maintenance cost of 1% and a $100,000 transfer fee of 5% each time they wish to change an employee's visa.

Moreover, the initiative coincides with the Trump administration's substantial investment in the deportation of millions of unauthorised immigrants. The gold card programme has already drawn a lot of criticism, since it appears to go against the US's longstanding reputation as a haven for the diligent poor.

Likewise, the official website states that a “Trump Platinum Card” is “coming soon.” With this card, holders can stay in the US for up to 270 days without paying US taxes on income earned outside the country. The price will be $5 million.

Financial Implications: Revenue Generation for the US

Trump asserts that the new programme will earn “many billions of dollars” and that the revenues will go to “an account where we can do things positive for the country.”

In September, Trump issued an executive order marking the gold card's official introduction. The cost of a visa was $5 million when the initiative was first announced in February. According to Trump, all money paid for the gold card scheme will “go to the US government.”

Reportedly, this is not the same as programmes in other nations, where the investment is frequently required to support domestic property or businesses instead of going directly to the government.

In addition, the card may have a competitive advantage over other “pay to jump the line” initiatives in other nations due to its lower price tag. For instance, after Trump's reelection, New Zealand's new golden visa programme attracted a lot of interest from wealthy Americans despite requiring an expenditure of about $3 million (US dollars).

A Closer Look at Employment-Based Immigration

The president stated in September, “Essentially, we're having people come in, people that, in many cases, I guess, are very successful or whatever. They're going to spend a lot of money to come in. They're going to pay as opposed to walking over the border.”

At last, DHS Secretary Kristi Noem commended the programme on X, saying, “under this historic initiative, qualified individuals and corporations who contribute $1 million and $2 million, respectively, will receive expedited EB-1 or EB-2 green cards following rigorous vetting.”

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