Trump's Gold Card Program: A New Fast Track for Foreign Investment and Immigration

Just over a month after his return to the White House, Donald Trump has unveiled his gold card program designed to expedite the acquisition of U.S. residency for foreign investors. The president announced that this card, which bears resemblance to a Green Card, offers a streamlined path to citizenship for qualified and vetted individuals, describing the development as 'so exciting' on his platform, Truth Social. Under this initiative, foreign nationals can secure a visa by paying $1 million (approximately 9 million Swedish kronor). Additionally, companies wishing to sponsor foreign workers may do so by paying $2 million. The official website for the visa assures applicants that they will receive residency in the U.S. in record time, though an interview and potential extra fees to the State Department may apply based on individual circumstances. The announcement was made during a press conference at the Oval Office, garnering attention from various sectors. U.S. Secretary of Commerce Howard Lutnick remarked that the gold card will attract 'the best people' who possess the financial capacity to bolster the economy. Furthermore, reports indicate that there are plans for a platinum card that would allow applicants to stay in the U.S. for up to 270 days without having to pay taxes on income earned outside of America, for a fee of $5 million. This new residency program comes amidst Trump's increasingly hardline stance on immigration, particularly following a recent incident in Washington where a National Guardsman was attacked by a suspect from Afghanistan. In light of this, Trump announced intentions to review all asylum applications that were granted during Joe Biden's presidency, further underscoring his administration's shift towards more stringent immigration practices. As reactions continue to unfold regarding this fast-track immigration initiative, it remains to be seen how the gold card program will impact the U.S. job market, economy, and immigration policies moving forward. As discussions on immigration intensify, this program symbolizes a notable pivot in approach, catering to investment while tightening regulations around asylum and immigration from certain regions. Related Sources: • Source 1 • Source 2