US President Donald Trump on Wednesday introduced a new pathway for wealthy foreigners to secure a fast-track American visa. He announced that eligible applicants can buy an American “golden visa” for $1 million. He also hinted at a premium “platinum” version that will cost $5 million.
Trump revealed the initiative on his social media platform, TruthSocial.
On the platform, he wrote, “A direct path to Citizenship for all qualified and vetted people. SO EXCITING! Our Great American Companies can finally keep their invaluable Talent.”
How the Trump Gold Card Works
The US government launched an official page to promote the program. It promises residency “in record time” through the new “Trump Gold Card.”
To apply, individuals must pay a $15,000 processing fee to the Department of Homeland Security (DHS), complete a background check, and pay the $1 million entry amount.
The rules follow Trump’s September executive order. That order requires individuals to invest $1 million, while companies sponsoring employees must contribute $2 million.
Businesses also need to pay a yearly 1 per cent maintenance fee of $20,000. In addition, they must pay a 5 per cent transfer fee of $100,000 every time they move the visa from one employee to another.
Trump Readies the $5 Million Platinum Card
Although the administration is focusing heavily on deporting millions of undocumented immigrants, it is also opening doors for rich foreigners. Critics argue that the program clashes with America’s traditional image as a refuge for hardworking migrants.
Meanwhile, the official website says a “Trump Platinum Card” is “coming soon.” Holders of this card can stay in the US for up to 270 days a year without paying US taxes on income earned abroad.
Trump said the revenue from the program will go into “an account where we can do things positive for the country.” He also claimed it would bring in “many billions of dollars.”
A Discounted Price Compared to September Announcement
Interestingly, the administration originally priced the gold card at $5 million when it announced the idea in September. The lower rate of $1 million may make the US option more attractive compared with similar “pay to fast-track” immigration schemes in other countries.
For example, New Zealand’s golden visa requires nearly $3 million (US dollars). Yet that program has gained strong interest from wealthy Americans after Trump’s re-election.
Back in September, Trump said, “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 borders.”
DHS Chief Welcomes the Move
Department of Homeland Security Secretary Kristi Noem supported the launch on X, formerly known as Twitter. She wrote, “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.”