…All individuals must pay a non-refundable $15,000 processing fee before their application is reviewed
…Businesses sponsoring employees will be required to pay $2 million per employee
…A forthcoming platinum version of the card, offering special tax breaks, is expected to cost $5 million
Wealthy foreign investors can now pay $1 million to acquire US citizenship as Donald Trump has officially launched the Trump Gold Card scheme which will give buyers a direct path to citizenship those who are qualified and vetted.
The programme, first announced earlier this year, promises US residency in ‘record time’ for applicants able to pay a $1 million fee.
“Our Great American Companies can finally keep their invaluable Talent,” Trump said on social media on Wednesday.
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Unlike traditional green cards, which can take years to obtain, the Gold Card promises approval in just a few weeks.Applicants must pay $1 million, along with a non-refundable $15,000 processing fee.
“The Gold Card is evidence that these individuals will substantially benefit the United States,” Trump said during the White House announcement, describing the programme as a high-value opportunity for both applicants and the federal government. Additional fees may apply depending on individual circumstances.
The card is not limited to individuals. Businesses can apply for corporate Gold Cards to sponsor employees, paying $2 million per approved employee in addition to the processing fee. The Trump administration has also previewed a “Platinum” card, offering special tax breaks for foreign nationals who reside in the US for up to 270 days a year, at a cost of $5 million plus the processing fee.
The scheme has attracted criticism from some Democrats, who argue it disproportionately favours wealthy individuals. The Gold Card contrasts with existing US programmes, such as the H-1B and L-1 visas, which prioritise skilled workers rather than financial capacity.
“The emphasis now seems to be on wealthy individuals, including investors who can inject $1 million into the US economy,” critics say. Trump defended the initiative, highlighting its potential to create jobs and generate significant government revenue.
Applicants who are approved will obtain legal status as EB1 or EB2 visa holders, allowing them to reside in the US lawfully. While most applications are expected to be processed within weeks, some applicants from certain countries may face wait times of up to a year due to visa availability.
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The Gold Card has faced criticism from some Democrats who argue it unfairly favours wealthy individuals. When unveiling the scheme, former President Donald Trump likened the visas to green cards, which allow immigrants of varying income levels to live and work permanently in the US and become eligible for citizenship after five years.
However, Trump emphasised that the Gold Card targets high-level professionals, stating: “The people that can pay $5 million, they’re going to create jobs. It’s going to sell like crazy. It’s a bargain.”
