The Trump administration has introduced a new immigration program offering permanent US residency to affluent individuals through the ‘Gold Card’ initiative. Commerce Secretary Howard Lutnick announced the program, highlighting its focus on wealthy applicants who can make substantial financial contributions to the United States. Under this program, individuals can obtain permanent residency by investing USD 1 million, with corporations required to pay USD 2 million per employee. This replaces the existing EB-1 and EB-2 employment-based green card categories, making 80,000 visas available. Gold Card holders are classified as ‘privileged permanent residents’ with full rights, including the path to citizenship. They are subject to taxes on their global income, similar to US citizens. The program is expected to generate significant revenue for the US Treasury and is slated for implementation within a month, with a dedicated application website. The program excludes individuals with national security concerns or criminal backgrounds, and corporations have unique employee retention rules. The administration also plans a ‘Trump Platinum Card’ program, which requires congressional approval and would not offer permanent residency.
