President Trump has introduced a new program called “Gold Card” which offers fast-track visas to non-Americans willing to pay at least $1 million. The program aims to give high-net-worth individuals and corporations a shortcut to obtaining an immigrant visa, replacing the existing EB-1 and EB-2 visa programs.
Under the Gold Card program, donors can pay a minimum of $1 million to the Commerce Department, while corporations must pay $2 million. Those who are approved will be considered lawful permanent residents and will not need to pay the standard $15,000 vetting fee.
A total of 80,000 Gold Cards are available, and applicants will undergo a vetting process by the State Department and Department of Homeland Security. The program’s administrator, Commerce Secretary Howard Lutnick, claims it is an effective way for high-value individuals to contribute to the US economy.
In addition, Trump has also introduced a new $5 million “Platinum Card” program that allows wealthy individuals to stay in the country for up to 270 days without paying taxes on their non-US income. The program’s details will be decided by Congress, and an online waiting list has been set up.
The government has also increased the fee for H-1B visas from $0 to $100,000, which could lead to a crackdown on the program. Trump expects tech companies to welcome the new rule, as it allows them to pay higher wages for foreign workers.
Source: https://www.cbsnews.com/news/trump-gold-card-visas-platinum-card-lutnick-h1b