New Delhi: The Trump administration has officially rolled out the “Trump Gold Card” visa programme, a $1 million fast-track residency scheme for non-residents projected to generate revenue of over $100 billion for the US Treasury.
It is expected to create a fresh immigration pathway for non-resident individuals to live and work permanently in the country. Corporate sponsors have to pay $2 million per individual for foreign-born employees.
Unveiling the visa at the Roosevelt Room of the White House Wednesday, US President Donald Trump said: “We are very excited to launch the Trump Gold Card and 30 minutes from now, the website will go up, and all funds will go to the United States government. It would generate a tremendous amount of money. People will buy them somewhat like a green card, but it would have a big advantage over the green card.”
All prospective residents must register by paying a non-refundable $15,000 fee to the Department of Homeland Security and complete a comprehensive background check. After successful completion of the check, individual applicants are required to pay $1 million, and company sponsors $2 million per employee.
The US administration is also planning to launch a platinum card costing $5 million. This will allow cardholders to spend up to 270 days a year in the US without being subjected to US taxes on foreign income.
As part of the application, individuals must disclose personal and financial information, including 20 years of employment history, citizenship details and source of funds backed by bank statements, tax returns and other financial documents.
Applicants must also answer questions related to security, such as criminal records, terrorism, money laundering, and other complicated concerns. The spouse and children under 21 can be included as dependents.
The new visa programme effectively replaces the 1990s’ EB-5 investor visa regime, which required a $1 million investment tied to the creation of at least 10 jobs. The new regime aims to expedite residency pathways, with the exception of job creation.
Commerce Secretary Howard Lutnick, emphasising the strict requirement standards, said at the rollout: “We want to make sure these people are absolutely qualified to be in America. President Trump framed this programme as a way to address the challenge faced by the US. Businesses are struggling to retain top foreign graduates.”
The new visa comes at a time of heightened tension and uncertainty in the US regarding immigration law enforcement. Simultaneously, visa fee has been hiked under the administration’s broader immigration policy.
Several other countries, such as the UK, Spain, Canada, and Australia, have a longstanding “golden visa” investment programme. The Trump administration’s version aims to be simpler and is meant to attract top talent, including recent graduates from leading US universities from countries such as China, India, and France.
Many Make America Great Again (MAGA) supporters remain unexcited about the move. Bill Mitchell, CEO of YourVoice Studios and a MAGA supporter, said on X: “THE TRUMP GOLD VISA is nothing new. Many countries have something similar to attract high-value individuals and investment.”
Vaibhav Pant is an alum of ThePrint School of Journalism, currently interning with ThePrint.
(Edited by Nida Fatima Siddiqui)
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