US President Trump Launches $1 Million Gold Visa Card Programme

• President Donald Trump introduced a new "gold card" visa programme, priced at $1 million for individuals and $2 million for corporations sponsoring foreign workers
• The initiative, unveiled at the White House, promises legal residency and a pathway to US citizenship while generating revenue for the government
• Critics argued the scheme favoured the wealthy, while Trump described it as "basically, a green card but much better"

President Donald Trump unveiled his long-awaited "gold card" visa programme, offering legal status and a pathway to US citizenship for individuals willing to pay $1 million.

Corporations seeking to sponsor foreign-born employees would be required to pay up to $2 million per worker.

A website accepting applications went live as Trump introduced the initiative at the White House on December 10, surrounded by business leaders. He described the card as a way to attract and retain top talent while generating revenue for the federal government.

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Pricing Scheme Revised from Earlier Proposal

Trump had promoted the gold card since his return to office. He initially suggested a $5 million price tag for each card but later revised the scheme to $1 million for individuals and $2 million for corporations.

The president said all funds raised would "go to the US government" and predicted that billions would flow into an account managed by the Treasury Department "where we can do things positive for the country."

Platinum Card Visa to Follow

The programme will eventually include a "platinum card," priced at $5 million plus $15,000 in processing fees. According to the official website, the platinum edition would allow foreign nationals to live in the United States for up to 270 days per year without paying taxes on foreign income.

"There is no assurance that the Platinum Card contribution will remain at $5 million, so you should join the wait list now," the website warned.

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Democrats Criticise Wealth-Based Visa

Democrats criticised the plan, arguing that it would favour the wealthy. The initiative is designed to replace the EB-5 visa programme, which Congress created in 1990 to encourage foreign investment. The EB-5 required applicants to invest about $1 million in a company employing at least 10 people.

Trump did not mention requirements for job creation or overall caps on the new programme, which remain part of the EB-5 system.

The president said he had heard complaints from business leaders who struggled to recruit outstanding graduates from US universities due to visa restrictions.

"You can't hire people from the best colleges because you don't know whether or not you can keep the person," Trump said.

'Basically, It's a Green Card but Much Better'

Trump described the gold card as a stronger alternative to existing residency options. "Basically, it's a green card but much better," he said. "Much more powerful, a much stronger path."

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Trump pauses immigration applications for 19 countries

Legit.ng earlier reported that the Trump administration announced that it was pausing all immigration applications, including green card requests, for people from 19 countries already subject to travel bans earlier this year.

The decision was outlined in a policy memo posted Tuesday on the website of U.S. Citizenship and Immigration Services (USCIS), the agency responsible for processing immigration benefits.

According to AP, officials said the pause would affect a wide range of immigration-related decisions, including naturalisations and green card applications. The memo stated that it would be up to USCIS director Joseph Edlow to decide when the pause would be lifted.

Source: Legit.ng