US President Donald Trump has launched a new immigration program that allows wealthy foreign nationals to secure fast-tracked residency in the United States by paying at least $1 million. The initiative, known as the Trump Gold Card, was unveiled on Wednesday through an official government website and a post on the president’s social media page.
Trump described the program as “a direct path to Citizenship for all qualified and vetted people,” adding that it would help American companies retain highly skilled workers.
Under the new rules, applicants must first pay a non-refundable $15,000 processing fee to the Department of Homeland Security (DHS). After passing a background check, they must make an additional $1 million payment to qualify for expedited residency, which the government promises to deliver “in record time.”
The guidelines stem from a September executive order which also outlines fees for companies sponsoring foreign employees. Businesses are required to pay $2 million per sponsored worker, as well as a 1% annual maintenance fee of $20,000. Firms must also pay a 5% transfer fee, amounting to $100,000, if the visa needs to be moved from one employee to another.
In addition to the Gold Card, the administration has teased a higher-tier Trump Platinum Card, priced at $5 million. Though not yet launched, the Platinum Card will allow holders to spend up to 270 days a year in the US without paying taxes on income earned outside the country.
The program is being rolled out at a time when the Trump administration is intensifying deportations of undocumented immigrants. Critics say the new policy appears to favour the ultra-wealthy while contradicting the US’s historic reputation as a refuge for migrants seeking opportunity.
Trump has defended the initiative, saying proceeds will go into “an account where we can do things positive for the country,” predicting that the program will generate “many billions of dollars.”
When the idea first surfaced earlier this year, the proposed price for the visa was $5 million. The reduced $1 million cost could make the card more competitive compared with similar citizenship-by-investment schemes around the world, such as New Zealand’s nearly $3 million programme.
DHS Secretary Kristi Noem endorsed the initiative, saying qualified individuals and companies contributing the required amounts will receive expedited EB-1 or EB-2 green cards following rigorous vetting.
