{"id":60642,"date":"2025-12-11T20:20:24","date_gmt":"2025-12-11T20:20:24","guid":{"rendered":"https:\/\/site.itshrt.com\/worldnews\/trump-says-1-million-gold-card-visa-could-be-lucrative-for-the-u-s-heres-how-it-works\/"},"modified":"2025-12-11T20:20:24","modified_gmt":"2025-12-11T20:20:24","slug":"trump-says-1-million-gold-card-visa-could-be-lucrative-for-the-u-s-heres-how-it-works","status":"publish","type":"post","link":"https:\/\/site.itshrt.com\/worldnews\/trump-says-1-million-gold-card-visa-could-be-lucrative-for-the-u-s-heres-how-it-works\/","title":{"rendered":"Trump says $1 million &#8220;gold card&#8221; visa could be lucrative for the U.S. Here&#8217;s how it works."},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<\/p>\n<div id=\"\">\n<p>President Trump is touting his administration&#8217;s new &#8220;gold card&#8221; visa as a fast track for foreigners who are willing and able to pay $1 million for the right to immigrate to the U.S.\u00a0<\/p>\n<p>Applications for the new visa went live on Wednesday afternoon, with the government <a href=\"https:\/\/trumpcard.gov\" target=\"_blank\" rel=\"nofollow noopener\">website<\/a> for the gold card saying the process can be completed in a matter of weeks after applicants file their paperwork.\u00a0<\/p>\n<p>Mr. Trump <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/trump-gold-card-eb5-visa-5-million-immigration-oligarch-cbs-news-explains\/\" data-invalid-url-rewritten-http=\"\">unveiled the gold card initiative<\/a><\/span> in February, promoting it as an expedited path for wealthy foreigners to secure legal residency and as a way to generate government revenue. The term riffs on the &#8220;green card,&#8221; which grants permanent residency status to noncitizens so they can live and work in the U.S. indefinitely.<\/p>\n<p>&#8220;All funds go to the United States government \u2014 it could be a tremendous amount of money,&#8221; Mr. Trump said on Wednesday about the gold card. &#8220;It&#8217;s somewhat like a green card, but with big advantages over a green card.&#8221;<\/p>\n<p>The program also includes a $2 million gold card for corporations that want to secure visas for workers, as well as a $5 million platinum card that allows foreigners to spend up to 270 days in the U.S. without being required to pay federal income tax on non-U.S. income.<\/p>\n<p>Here&#8217;s how the gold card program will work.\u00a0<\/p>\n<h2>What is a Trump gold card?<\/h2>\n<p>In essence, it&#8217;s a green card that has been fast-tracked by the Trump administration.<\/p>\n<p>The website to apply for a gold card states that successful applicants will receive either an EB-1 or EB-2 visa, two kinds of <a href=\"https:\/\/www.uscis.gov\/green-card\/green-card-eligibility\/green-card-for-employment-based-immigrants\" target=\"_blank\" rel=\"nofollow noopener\">employment-based green cards<\/a> for skilled workers. To apply for an individual gold card, applicants must:\u00a0<\/p>\n<ul>\n<li>Pay a nonrefundable $15,000 processing fee to the Department of Homeland Security.<\/li>\n<li>Undergo a vetting process, including a visa interview.<\/li>\n<li>Make a $1 million gift to the federal government after the vetting is complete.<\/li>\n<\/ul>\n<p>The new program also allows companies to obtain gold cards for employees, one per worker, with each requiring a $2 million donation, according to the website.<\/p>\n<p>Applicants must pay a $15,000 fee that will cover the cost of processing and conducting a background check, along with a 1% annual maintenance fee. Companies may also transfer the gold card between employees for a 5% transfer fee, the program specifies.<\/p>\n<p>A transfer could happen if a gold card holder becomes a U.S. citizen, for example.<\/p>\n<p>One potential difference between the Trump gold card and other types of green cards is that the new visa process could take only weeks, according to the Trump administration.\u00a0<\/p>\n<p>By comparison, immigrants who apply for a regular green card can expect to wait between eight months and three years for approval, <a href=\"https:\/\/www.boundless.com\/immigration-resources\/average-green-card-wait-times\" target=\"_blank\" rel=\"nofollow noopener\">according<\/a> to immigration services company Boundless. The quickest processing time is for spouses of U.S. citizens, who typically face an eight-month wait, the group said.\u00a0<\/p>\n<h2>How is the Trump gold card different from an EB-5 visa?<\/h2>\n<p>The gold card is meant to replace EB-5 visas, which Congress created in 1990 to generate foreign investment. These have been available to people who spend at least $1 million to start a company with at least 10 workers.<\/p>\n<p>Unlike the EB-5 visa, however, a gold card visa doesn&#8217;t require applicants to create a certain number of jobs or to invest in U.S. businesses.\u00a0<\/p>\n<p>The EB-5 program has been criticized as cumbersome and as an invitation to commit fraud. In one notable case in recent years, hundreds of EB-5 applicants <a href=\"https:\/\/www.justice.gov\/usao-vt\/pr\/ariel-quiros-sentenced-60-months-prison-eb-5-fraud-vermont-s-northeast-kingdom\" target=\"_blank\" rel=\"nofollow noopener\">were defrauded<\/a> by business executives in Vermont who claimed to be building a biotech facility, but who instead used the money for personal expenses.<\/p>\n<p>The process to obtain an EB-5 visa is also glacially slow, with a processing time of almost six years. That is &#8220;by far the longest processing times in the U.S. immigration system,&#8221; according to an<a href=\"https:\/\/eig.org\/designing-a-gold-card-visa\/\" target=\"_blank\" rel=\"nofollow noopener\"> April blog post<\/a> about the Trump gold cards from the Economic Innovation Group, a bipartisan policy research group.\u00a0<\/p>\n<p>The gold card is designed to help companies recruit foreign graduates of U.S. universities such as MIT and Harvard, Mr. Trump said on Wednesday.\u00a0<\/p>\n<p>&#8220;I&#8217;ve heard from Tim Cook of Apple, and I&#8217;ve heard from a lot of people, some of the people at this table, that essentially, in the United States, you can&#8217;t keep the student,&#8221; Mr. Trump said.<\/p>\n<h2>Can gold card holders become citizens?<\/h2>\n<p>Gold card recipients &#8220;have a path to citizenship,&#8221; U.S. Commerce Secretary Howard Lutnick said at the press conference on Wednesday with Mr. Trump.\u00a0<\/p>\n<p>&#8220;Obviously, they have to be perfect people in America, and having passed the vetting, after five years they&#8217;ll be available to become citizens,&#8221; Lutnick said.\u00a0<\/p>\n<p>Green card holders can typically apply for citizenship after residing in the U.S. for five years.<\/p>\n<p>Companies that secure a gold card for workers who then become citizens can transfer the card to new employees, Lutnick added.\u00a0<\/p>\n<h2>Can a gold card visa be revoked?<\/h2>\n<p>Yes: The application website states: &#8220;The Trump Gold Card is a visa; therefore, national security and significant criminal risks are a basis for revocation.&#8221;<\/p>\n<h2>How much money could the visa program raise for the U.S.?<\/h2>\n<p>Mr. Trump didn&#8217;t provide an estimate this week, but the program &#8220;could generate tens of billions in annual revenue,&#8221; according to the Economic Innovation Group.<\/p>\n<p>Based on the $1 million cost of a gold card visa, the program could raise $100 billion over a decade, the group said, assuming a &#8220;conservative&#8221; estimate that the Trump administration could issue 10,000 gold cards per year.\u00a0<\/p>\n<section class=\"content__body--footer\">\n<p class=\"content__meta--editors\">\n      Edited by<\/p>\n<p>                                  <a href=\"https:\/\/www.cbsnews.com\/team\/alain-sherter\/\" class=\"byline__author__link\" data-invalid-url-rewritten-http=\"\">Alain  Sherter<\/a>\n                      <\/p>\n<\/section>\n<p>  <!-- data-recirc-source=\"queryly\" --><\/p>\n<aside class=\"component list recirculation component--type-recirculation \">\n        <\/aside>\n<section class=\"content__body--footer\">\n      <!-- tags --><\/p>\n<section class=\"content__tags\">\n<\/section>\n<\/section><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     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