US President Donald Trump introduced the US visa scheme aimed at wealthy foreigners willing to pay at least $1 million to gain permanent residency in the country. The programme is called the Trump Gold Card, and it is designed for high-level professionals who can prove they will provide a "substantial benefit" to the United States.
Speaking as he revealed the card, Trump described it as “the green card on steroids. It is a pathway, it is an amazing thing.” He criticised the Biden administration, claiming that around 25 million people had entered the US during its tenure, including “drug dealers and all sorts of people… from jails all over the world: Venezuela, the Congo, everywhere.”
Trump said the Gold Card scheme would prioritise talent over mass migration. “Now, when people come in, they have to pay $1 million. And we’ve seen a tremendous surge,” he said.
The MAGA chief added that the programme would allow graduates of top US universities to remain and work for American companies. “Someone graduates top of their class at the best school, wants to work for a great American company and now they can. The company will pay a little bit, but that’s okay. They’ll be able to keep the talent.”
Under the scheme, companies sponsoring workers must pay $2 million, plus additional charges. A higher-tier “platinum” option offering preferential tax treatment will also be available for $5 million. All applicants must first pay a non-refundable $15,000 processing fee, with further payments to the government potentially required depending on individual circumstances.
Trump compared the Gold Card to a standard green card, which allows immigrants of all income levels to live and work permanently in the United States, often leading to citizenship after five years. He suggested that the new programme was targeted at “high-level” professionals who are “productive,” rather than low-skilled migrants.
The announcement comes alongside Trump’s hardline immigration stance, which included a crackdown on illegal migration and measures discouraging legal immigration. According to the POTUS, the Gold Card programme would generate revenue for the US Treasury while ensuring that top talent can remain in the country to contribute to American businesses.
At TOI World Desk, our dedicated team of seasoned journalists and...
Read MoreAt TOI World Desk, our dedicated team of seasoned journalists and passionate writers tirelessly sifts through the vast tapestry of global events to bring you the latest news and diverse perspectives round the clock. With an unwavering commitment to accuracy, depth, and timeliness, we strive to keep you informed about the ever-evolving world, delivering a nuanced understanding of international affairs to our readers. Join us on a journey across continents as we unravel the stories that shape our interconnected world.
Read Less