 "Trump launches $1 mn 'Gold Card', platinum visa priced at $5 mn to be released soon")
US President Donald Trump on Wednesday launched a new program that will allow rich foreigners to buy an American “ golden visa” for a whopping $1 million and trailed a “platinum” version for $5 million. Trump took to his social media platform TruthSocial to launch the initiative.
“A direct path to Citizenship for all qualified and vetted people. SO EXCITING! Our Great American Companies can finally keep their invaluable Talent,” Trump wrote on Wednesday on social media. An official US government page, propped up for the same that promises American residency “in record time” with the new “Trump Gold Card” – once applicants have paid a $15,000 processing fee to the Department of Homeland Security (DHS), passed a background check and paid up $1 million.
The move is in accordance with the September executive order, which requires individuals to pay $1 million, while businesses sponsoring employees are required to pay $2 million. The firms were then required to pay a 1 per cent annual maintenance fee of $20,000, and a 5 per cent transfer fee of $100,000 each time they wanted to switch the visa from one employee to another.
The $5 million Platinum card is next in line
It is pertinent to note that the latest program comes as the Trump administration devotes significant resources to deporting millions of undocumented immigrants. However, the initiative has already faced backlash by seemingly contradicting the US’s traditional reputation as a refuge for the hardworking poor.
Meanwhile, the website stated that a “Trump Platinum Card” is also “coming soon”. The card in question would allow holders to spend up to 270 days in the US without being subject to US taxes on non-US income. While introducing the initiative, Trump noted that the proceeds would go to “an account where we can do things positive for the country” and that it would generate “many billions of dollars.
Interestingly, the gold card was priced at $5 million when the Trump administration announced the move in September. The discounted price tag may give the card a competitive edge compared with similar “pay to jump the line” programs that are in operation in other nations.
Quick Reads
View AllFor instance, New Zealand’s new golden visa program costs nearly $3 million (US dollars), but it managed to attract strong interest from wealthy Americans following Trump’s re-election. “Essentially, we’re having people come in, people that, in many cases, I guess, are very successful or whatever,” the president said back in September. “They’re going to spend a lot of money to come in. They’re going to pay, as opposed to walking over the borders.”
Meanwhile, Department of Homeland Security Secretary Kristi Noem also lauded the launch on X, formerly known as Twitter. “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,” she wrote in the post.
 "What the dramatic US seizure of Venezuela-linked oil tanker tells us")
 "Should Ukraine concede territory to Russia? Zelenskyy wants Ukrainians to vote in referendum")
 "Who is Kilmar Ábrego García, the man ‘mistakenly’ deported by US, now freed?")
 "Trump's new tax guidance could let companies save billions more")
 "What the dramatic US seizure of Venezuela-linked oil tanker tells us")
 "Should Ukraine concede territory to Russia? Zelenskyy wants Ukrainians to vote in referendum")
 "Who is Kilmar Ábrego García, the man ‘mistakenly’ deported by US, now freed?")
 "Trump's new tax guidance could let companies save billions more")
