Summary
President Donald Trump introduced a "Gold Card" visa program that provides wealthy individuals with a fast path to live and work in the U.S. in exchange for large financial contributions to the U.S. government. This program is different from the traditional green card process, which is based on employment, family ties, or humanitarian grounds and does not require financial contributions.
Key Facts
- The Gold Card program was established through a September executive order.
- It offers expedited visas to individuals making significant financial contributions to the U.S. government.
- Applicants must give $1 million to the U.S. Treasury, or $2 million if sponsored by a company, plus a $15,000 vetting fee.
- The program is expected to issue 80,000 visas and aims to raise $100 billion.
- The green card system, an existing path to U.S. residency, does not require a financial contribution.
- The Gold Card will replace the EB-5 investor visa, which required proof of job creation or preservation in the U.S.
- The Trump administration highlights the Gold Card as a reform and economic benefit, offering benefits like some tax flexibility for income outside the U.S.
- A new $100,000 fee for H-1B visas was also announced.
