Donald Trump launched a new program that will allow wealthy foreign individuals to buy a US “golden visa” for $1m, and trailed a “platinum” version for $5m.
Trump wrote on Wednesday on social media, "A direct path to Citizenship for all qualified and vetted people. SO EXCITING! Our Great American Companies can finally keep their invaluable Talent."
An official government webpage promises US residency “in record time” with the new “Trump Gold Card” once applicants have paid a $15,000 processing fee to the Department of Homeland Security (DHS), passed a background check and paid up $1m, The Guardian reported.
Per a September executive order, individuals are required to pay $1m, while businesses sponsoring employees are required to pay $2m. Firms then need to pay a 1% annual maintenance fee of $20,000, and a 5% transfer fee of $100,000 each time they want to switch the visa from one employee to another.
The program comes as the Trump administration devotes significant resources to deporting millions of undocumented immigrants. The gold card program has already faced heavy criticism by seemingly contradicting the US’s traditional reputation as a refuge for the hardworking poor.
A “Trump Platinum Card” is also “coming soon”, according to the official website. This card will allow holders to spend up to 270 days in the US without being subject to US taxes on non-US income. It will cost $5m.
