&imwidth=800&imheight=600&format=webp&quality=medium "Can Trump’s $1M ‘Gold Card’ buy you US citizenship? Here’s the truth")
US President Donald Trump on Friday (Sep 19) announced a massive hike in the annual fee for H-1B visas, raising it to a whopping $100,000. Even as he introduced the shocking fee hike, Trump also announced that "Trump Gold Card is here". What is a Gold Card? Can it help you get a US citizenship, and therefore bypass H-1B visas? Here's all you need to know.
What is a Trump Gold Card?
Simply put, it is a new immigration pathway for the rich. The 'Trump Gold Card' is a visa meant for foreigners of "extraordinary ability", such as entrepreneurs, investors, and business leaders who are committed to supporting the United States of America.
The visa comes with a massive $1 million fee and will grant the holder the right to live and work across all 50 US states. On Truth Social, Trump announced the move, saying, "For far too long, we have had millions of Illegal Aliens pouring into our Country, and our Immigration System was broken. It is beyond time that the American People, and American Taxpayers, are benefiting from our LEGAL Immigration System."
How will it benefit the US?
The Trump Gold Card, as per the POTUS, is expected to "generate well over $100 Billion Dollars very quickly". This money, he said, would be "used for reducing Taxes, Pro Growth Projects, and paying down our Debt."
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Trump Platinum Card
Along with the Gold Card, Trump also announced a more exclusive 'Trump Platinum Card', that carries a $5 million fee, which, as per reports, will allow individuals to spend up to 270 days in the US annually without being taxed on American income. It would be available on a first-come-first-served basis and like the Trump Gold Card, would be subject to approvals.
For corporations, Trump also announced the Corporate Gold Card, priced at $2 million, with added processing and maintenance charges.
'Gold cards,' a new paid way to get US citizenship?
Not really. Previously, Commerce Secretary Howard Lutnick revealed that the Gold Cards would replace the government's immigrant investor visa programme, adding that applicants would "have to go through vetting" to prove they are “wonderful world-class global citizens”. Currently, the EB-5 immigrant investor visa programme is the route through which foreign investors pump money into US projects that create jobs and then apply for visas to immigrate to the US. Currently, the programme issues green cards to immigrants who invest at least $1,050,000, or $800,000 in economically distressed zones called targeted employment areas, to create jobs for American workers.
