Wealthy immigrants will be able to buy residency, and $5m ‘platinum card’ will exempt holders from some US taxes
Donald Trump launched a new program that will allow wealthy foreign individuals to buy a US “golden visa” for $1m, and trailed a “platinum” version for $5m.
“A direct path to Citizenship for all qualified and vetted people. SO EXCITING! Our Great American Companies can finally keep their invaluable Talent,” Trump wrote on Wednesday on social media.
An official government webpage promises US residency “in record time” with the new “Trump Gold Card” – once applicants have paid a $15,000 processing fee to the Department of Homeland Security (DHS), passed a background check and paid up $1m.
Per a September executive order, individuals are required to pay $1m, while businesses sponsoring employees are required to pay $2m. Firms then need to pay a 1% annual maintenance fee of $20,000, and a 5% transfer fee of $100,000 each time they want to switch the visa from one employee to another.
