On Friday, President Donald Trump signed an executive order introducing a novel immigration initiative that grants expedited “Gold Card” visas to foreign nationals willing to invest a minimum of $1 million.
A government portal unveiled the “Trump Gold Card,” featuring a conceptual design adorned with Trump’s image, signature, and iconic American symbols such as the bald eagle and the Statue of Liberty, accompanied by the tagline “Unlock life in America.”
The directive specifies that non-citizens who contribute a “donation” of at least $1 million to the Commerce Department will qualify for accelerated immigrant visa processing. Additionally, businesses can obtain Gold Cards by making contributions of $2 million or more.
Commerce Secretary Howard Lutnick revealed that the program plans to issue 80,000 Gold Cards during its current “rollout phase.” Successful applicants must pay a $15,000 application fee and pass thorough background checks conducted by the State and Homeland Security Departments. Recipients will receive lawful permanent residency, effectively replacing the EB-1 and EB-2 green card categories designated for individuals with “extraordinary abilities.”
“Demonstrating exceptional value to the United States can now be achieved through a $1 million contribution,” Lutnick explained to the press. He further noted that within the next month, “other green card categories are expected to be suspended, making this the primary route for immigration.”
The administration is also contemplating the introduction of a $5 million ‘Platinum Card,’ which would permit holders to reside in the U.S. for up to 270 days annually without incurring taxes on foreign income. However, Lutnick emphasized that this Platinum Card would not lead to citizenship and would require approval from Congress.
In a related move, Trump signed an order imposing an additional $100,000 fee on applicants for H-1B visas, a non-immigrant visa program that allows U.S. companies to employ highly skilled foreign workers for periods up to six years.
This adjustment could profoundly impact the H-1B system. While some critics claim it suppresses wages for American workers, proponents-including major technology corporations like Amazon, which submits thousands of applications each year-argue that the program is essential for addressing critical talent shortages.
When questioned about the tech industry’s reaction to the increased fee, Trump responded, “I believe they will be very pleased. This will help us retain highly productive individuals, and many companies are willing to pay substantial sums for this opportunity, so overall, they are quite satisfied.”
