UPDATE: President Donald Trump has just unveiled a controversial new immigration initiative: the “Gold Card” visa program, allowing foreign nationals to fast-track their residency in the United States for a hefty fee of $1 million. This urgent announcement was made during a press conference on October 6, 2023, and the implications are immediate and significant.
The Gold Card program promises to expedite the immigrant visa process for those who can afford to make a substantial monetary contribution. Under this initiative, individuals who donate at least $1 million to the Commerce Department can obtain a streamlined pathway to lawful permanent residency, commonly known as a green card. Corporations can also participate by sponsoring individuals for Gold Cards with a minimum contribution of $2 million.
According to Commerce Secretary Howard Lutnick, approximately 80,000 Gold Cards will be made available, although he emphasized that the program is still in its “implementation phase.” Key details reveal that applicants must pay a $15,000 vetting fee and will undergo scrutiny by the State Department and the Department of Homeland Security before approval.
“This is a model that will change the landscape of immigration to our country,” Lutnick stated. He further announced that the Gold Card will replace the existing EB-1 and EB-2 visa programs, which cater to individuals with exceptional abilities in various fields. “You can prove exceptional value for the United States by contributing $1 million,” he added, underscoring the program’s focus on economic contribution.
In a swift move, Trump also signed an executive order that imposes an additional $100,000 fee for individuals seeking to enter the U.S. on an H-1B visa. This non-immigrant visa is crucial for many skilled workers, particularly in the tech industry. Critics argue that such fees may further disadvantage American workers by allowing companies to hire foreign employees at lower wages. Yet, Trump remains optimistic, stating, “I think they’re going to be very happy,” referring to tech companies’ potential support for the changes.
The administration is also considering a future $5 million “Platinum Card,” allowing holders to stay in the U.S. for up to 270 days without paying taxes on non-U.S. income. However, this initiative requires congressional approval before it can be implemented.
As the Gold Card program gears up, an online waiting list has already been established for interested applicants. This development raises critical questions about the future of U.S. immigration policy and its impact on both the economy and the workforce.
Authorities confirm that within less than a month, existing green card categories are likely to be suspended, making way for this new model. As the situation evolves, stakeholders and potential applicants alike are urged to keep a close watch on forthcoming updates.
The urgency of these changes cannot be overstated, as they may redefine the immigration landscape and open new avenues for those with financial means to secure their place in America. Stay tuned for more updates as this story develops.