Trump Launches 'Gold Card' Visa Program for Wealthy Foreigners
In a move that has attracted global attention, U.S. President Donald Trump has officially launched the 'Gold Card' visa program, an initiative that promises expedited U.S. visas to wealthy foreigners who can afford to pay at least $1 million. The program, which targets high-value investors, top graduates, and global entrepreneurs, marks a significant shift in the U.S. immigration policy.
Background and Overview
Unveiled by Trump on Wednesday, the 'Gold Card' program offers a new and streamlined path to U.S. citizenship for those who can afford to pay the substantial fees involved. 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 social media, as reported by The Guardian.
The program allows individuals to fast-track their U.S. visa application by paying a $1 million gift payment.
Corporations can also participate by paying $2 million on behalf of a non-American worker. All applicants will initially be required to pay a $15,000 processing fee to the Department of Homeland Security (DHS), which will review their application, according to Middle East Eye.
Key Developments
The 'Gold Card' program, named after President Trump, was officially announced at a White House economic roundtable. It offers the same vetting process that any typical visa applicant must go through, except for the hefty fee. So for an individual it's $1 million. And for a corporation it's $2 million. And, as the president said, for a corporation, they spend $2 million, they can then have an employee, full vetted, the best vetting the government has ever done – $15,000 vetting,
United States Commerce Secretary Howard Lutnick said during the roundtable, as reported by Fox News.
The visa program also drew attention for its potential implications for U.S. businesses. President Trump reportedly stated that the funds generated from the initiative would provide a tremendous amount of money
and benefit American companies, as highlighted in a report by Fox News.
Reactions and Implications
The 'Gold Card' visa program has elicited varied reactions. Critics have warned of a potential pay-to-play
scenario that could be subject to abuse. There is concern that this new immigration policy favors the wealthy and could lead to a widening gap between the wealthy and the underprivileged. The New York Times quoted comedian Jimmy Kimmel taking a swipe at the new visa, rethinking the Statue of Liberty’s inscription: “Never mind your poor and tired. Give us a million bucks — you’re in.”
On the other hand, supporters argue that the program could attract significant global talent and major investors to the U.S., boosting the economy and job creation.
Current Status
As of now, the 'Gold Card' visa program is officially active with live applications. It remains to be seen how the program will unfold and what its impact will be on U.S. immigration and the economy.