A new immigration initiative by the Trump administration offers a pathway to permanent US residency for wealthy individuals. The ‘Gold Card’ program requires a USD 1 million investment for permanent residency, or USD 2 million per sponsored employee for corporations. This program is designed to replace the EB-1 and EB-2 green card categories, with 80,000 visas available. Commerce Secretary Howard Lutnick explained the initiative’s focus on attracting high-value contributors. Gold Card holders will have full rights to live and work in the US, including a route to citizenship. Like US citizens, they will be taxed on their worldwide income. The program may potentially discourage applicants with complex international financial arrangements. Applicants will face a rigorous vetting process, costing USD 15,000, conducted by the Department of Homeland Security and the State Department. The initiative excludes those with national security concerns or criminal backgrounds. Corporate sponsorships come with specific rules regarding employee retention. The administration also proposed a ‘Trump Platinum Card’ program that would require a USD 5 million investment but would not offer permanent residency or a path to citizenship.
US to Offer Permanent Residency for $1 Million: The Trump Administration’s Gold Card Program
