UPDATE: The Trump administration reports that sales of the new immigration “Gold Card” have skyrocketed to $1.3 billion. This urgent development was announced during a White House event on Friday, where President Donald Trump emphasized that the funds will contribute to the U.S. Treasury and help reduce national debt.
The “Gold Card” program, which went live on December 10, 2023, allows foreign nationals and corporations to fast-track their pathway to U.S. citizenship for a fee. Individuals can secure residency for a payment of $1 million plus a $15,000 processing fee, while corporations can gain access for a $2 million contribution and the same processing fee.
“It’s essentially the green card on steroids,” Trump declared, highlighting the urgency and appeal of the program. The initiative aims to attract foreign investments to stimulate job creation, paralleling the existing EB-5 visa program instituted in 1990.
Commerce Secretary Howard Lutnick reinforced the administration’s commitment to thorough vetting of all applicants, stating that the Gold Card system is designed to replace the EB-5 program. This move is already causing significant debate among immigration advocates and economists, who are concerned about the implications for U.S. immigration policy.
The Gold Card offers promising benefits for foreign firms. It allows companies to grant U.S. citizenship to employees, with the option to transfer the card to different employees for a 5% transfer fee, which covers background checks. Additionally, a 1% annual maintenance fee applies.
With the program gaining traction, the potential impact on immigration trends and U.S. labor markets is substantial. Analysts are closely monitoring how these developments might reshape the landscape of citizenship for foreign nationals.
As the Trump administration pushes forward with this initiative, key stakeholders are urged to watch for upcoming announcements and potential changes in immigration regulations that could arise from this program.
Stay tuned as more details unfold in this developing story. The Gold Card initiative is set to be a focal point of discussion in the coming days, with widespread implications for both U.S. policy and foreign investment.
