Trump Administration Launches 'Gold Card' Visa for Wealthy Immigrants

DW
DW
14h ago • 1 views
Trump's administration has launched a $1 million 'Gold Card' visa program to fast-track US residency for wealthy foreigners, amid increased immigration restrictions.
Trump Administration Launches 'Gold Card' Visa for Wealthy Immigrants
A What happened
In a significant shift to US immigration policy, the Trump administration unveiled the 'Gold Card' visa program, targeting affluent foreigners who can pay $1 million plus a $15,000 DHS processing fee for quick paths to US residency and eventual citizenship. Marketed as superior to the traditional Green Card, the program also offers a 'corporate gold card' for $2 million, enabling businesses to sponsor employees, and a 'Platinum Card' at $5 million allowing extended stays without tax on foreign income. This initiative coincides with stricter immigration enforcement, such as widespread ICE raids, increased deportations, halted applications from certain countries, and new social media check requirements. Proponents claim the program will help US companies retain valuable foreign talent, while critics may raise concerns about fairness and immigration equity.
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Key insights

  • 1

    High Demand for Visa Program: Over 10,000 people pre-registered for the Gold Card, indicating significant interest and potential revenue generation.

  • 2

    Corporate Sponsorship Option: Businesses can pay a $2 million fee to sponsor employees through a corporate gold card, aiding talent retention.

  • 3

    Tax Benefits with Platinum Card: The $5 million Platinum Card offers up to 270 days stay with tax exemption on foreign income.

  • 4

    Tighter Immigration Controls Concurrently Enforced: The visa program rolls out alongside intensified immigration enforcement, including ICE raids and deportations.

  • 5

    Enhanced US Talent Retention Strategy: The Gold Card aims to help US companies keep highly qualified foreign workers amid strict immigration policies.

Takeaways

The Trump administration's Gold Card visa program marks a notable shift in US immigration policy by creating a lucrative fast track for wealthy immigrants. While it aims to support US businesses in retaining valuable foreign talent amidst strict immigration enforcement, it also introduces new debates around equity and fairness in access to residency and citizenship. Its success and impact on the broader immigration landscape will be closely watched.

Topics

Business & Markets Economy World & Politics Policy & Regulation Migration

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