UPDATE: The Trump administration has announced that sales of the new immigration Gold Card have skyrocketed to $1.3 billion. This program, which offers foreign nationals a fast-track pathway to U.S. citizenship, is generating significant revenue for the U.S. Treasury and has drawn attention for its rapid uptake.
During a White House event on December 10, President Donald Trump celebrated the program’s success, stating, “It’s essentially the green card on steroids.” The funds raised through the Gold Card initiative are aimed at reducing the national debt, marking a pivotal shift in immigration policy.
The Gold Card allows non-U.S. citizens to secure residency by paying $1 million plus a $15,000 processing fee. Corporate entities can also engage in the program for $2 million with the same processing cost. Notably, the Trump Corporate Gold Card allows companies to grant U.S. citizenship to employees, with the option to transfer the card to another employee for a 5% transfer fee, which includes the cost of a background check.
This initiative is poised to replace the existing EB-5 visa program, which has been in place since 1990 to encourage job creation through foreign investment. According to Commerce Secretary Howard Lutnick, all applicants will undergo thorough vetting to ensure security.
The rapid success of the Gold Card program reflects a substantial interest from foreign investors looking to establish residency in the United States. The program has been met with mixed reactions, as some view it as a significant change in immigration policy, while others express concerns about its implications for traditional pathways to citizenship.
As the Trump administration continues to promote the Gold Card initiative, attention now turns to how this program will reshape immigration dynamics and its potential long-term effects on the U.S. economy. With the website for the program now live and operational, foreign nationals and corporations are poised to take advantage of this unprecedented opportunity.
Keep an eye on further developments as the Trump administration rolls out more details about the Gold Card program and its impact on U.S. immigration policy.
