What Is The Trump Gold Card? New USD 1M Visa Offers Expedited Path To Permanent US Residency | World News
United States President Donald Trump on Wednesday announced the immediate launch of the “Gold Card,” a new path to permanent resident status in exchange for a foreign citizen’s significant financial contribution to the U.S. Treasury. The new visa will both attract wealthy immigrants and offer U.S. companies an easy way to retain highly skilled foreign talent.
The official “Gold Card” website is live and the White House is now taking applications online for the new immigration category.
Individual ‘Trump Gold Card’
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President Trump said the offer “is kind of like a green card, but it has major advantages over the green card.”
Financial Requirement: Those who wish to apply must pay a non-refundable $15,000 as a processing fee to DHS.
Residence Donation: Once a person passes the expedited “vetting” process, he or she is required to make a “gift of $1 million” to the U.S. Treasury. The gift is literally “evidence that the individual will significantly benefit the United States.”
Accelerated Processing: The website says the entire petition approval and visa decision process will be processed in an expedited manner after the initial processing fee is received.
Corporate Talent Retention Program
The ‘Trump Corporate Gold Card’ element will prevent highly qualified foreign graduates from leaving the US after completing their education.
Corporate Sponsorship: The card will enable companies to retain foreign talent as corporate sponsors. Trump made clear that use of this card would be expanded to graduates: “Companies will be able to go to the Wharton School of Finance, the Stern School of Business, Harvard, MIT, wherever your students are, any school, and you’ll be able to buy a card and keep that person in the United States.”
Corporate Fees: A corporate sponsor must also pay a $15,000 processing fee per employee and a $2 million gratuity per employee upon completion of the review process.
Transferability: The corporate card includes this important benefit: “Corporate sponsors can stop sponsoring an employee and use the gift contribution tied to the previous application to sponsor a new employee without a new $2 million gift.”
Fees: The company card has a minimal 1% annual maintenance fee and a 5% transfer fee to cover the cost of a new DHS background check if the employee is replaced.
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