Wealthy foreigners looking to come to the U.S. and obtain permanent residency can now do so through President Donald Trump’s ‘Gold Card’ visa program, which promises expedited entry to vetted applicants who give $1 million to the U.S.
The government launched trumpcard.gov Wednesday, enabling people to submit program applications online. Applicants have to pay a $15,000 processing fee and—if they survive an ‘in-depth’ background check and vetting process—donate an unrestricted $1 million to the Department of Commerce. If an employer sponsors, the fee is $2 million with an annual maintenance fee of $20,000. Applicants are still subject to per-country admittance caps.
The difference between a gold card and a green card lies mainly in the application process and wait times. In fact, the gold card is really just an expedited EB-1 or EB-2 green card. While green card applicants can wait for years, gold card applicants are supposed to wait for only weeks according to the new website.
A green card grants lawful permanent residency in the U.S. EB green cards are employment-based. EB-1s are for individuals demonstrating “extraordinary ability” in their field and EB-2s are similar, in that the applicant typically holds an advanced degree or possesses “exceptional ability.” Under the new program, applicants can qualify by making a $1 million or $2 million contribution in lieu of the standard requirements.
Trump promoted the program’s launch in a social media post on Wednesday.
“The United States government’s Trump Gold Card is here today!” Trump posted to Truth Social in all caps. “A direct path to citizenship for all qualified and vetted people. So exciting! Our great American companies can finally keep their invaluable talent.”
While they do provide a path to citizenship, neither green cards nor gold cards guarantee American citizenship. Residency and citizenship are different processes, and if, for example, a person develops a criminal record or owes back taxes or child support, they can be denied citizenship.
Trump has also spoken of a coming “platinum card,” which would require a $5 million contribution to the U.S. government and would allow approved applicants to live in the U.S. for up to 270 days a year and not pay taxes on non-U.S. income. The website encourages applicants to “join the waitlist” for the platinum card as the donation requirement may change to more than $5 million.
The president called for the creation of the gold card program in September with the signing of Executive Order 14351.
