What is 'Trump’s Gold Card visa' – the new US visa scheme for skilled migrants?

US President Donald Trump launched its long-promised 'Trump Gold Card', opening applications for individuals and corporations willing to invest $1 million or more.

The programme is designed to attract top talent to the US, generate billions of dollars for the US Treasury, and provide a faster, more lucrative alternative to the traditional EB-5 visa system.

While launching the card, Trump said it was a “shame” that thousands of foreign students, including those from India and China, are compelled to leave the United States after graduating from top American universities.

Also Read: Indians eye Latvia’s golden visa amid UAE rumours and Trump’s pricey US scheme

In his view, it will help companies to retain skilled foreign graduates and provides a pathway to US citizenship. So, what is the Trump Gold Card and how will it help migrants to get US citizenship?

What is 'Trump gold card'?

Trump used a White House roundtable to formally unveil the Trump Gold Card, a new million-dollar visa scheme that provides a pathway to US citizenship and enables companies to employ and keep highly-skilled foreign graduates.

“If you graduate number one in your class, Wharton, Harvard, MIT, you still have to go back to India, China, France, wherever you came from. Very hard to stay. It’s a shame. It’s ridiculous,” Trump said. “We’re taking care of that,” he added.

Under the programme, individuals can obtain expedited US residency by paying a non-refundable US$15,000 processing fee and, after vetting, making a US$ 1million “gift” to the US government.

'Better form of green card'

A corporate version of the card will allow companies to sponsor foreign employees for a US$ 2 million contribution. The website trumpcard.gov, which went live on Wednesday (December 10) afternoon, promises “US residency in record time”.

Trump described the new visa as “somewhat like a green card, but with big advantages, much better, much more powerful”.

Commerce secretary Howard Lutnick said both individuals and corporations would undergo “full and best vetting” to ensure the programme benefits only highly qualified applicants.

Card holders will gain a pathway to US citizenship after five years, subject to good-conduct conditions.

Corporate cards

Flanked by IBM CEO Arvind Krishna and Dell CEO Michael Dell, Trump said the Gold Card directly responds to a longstanding concern among American technology leaders — that they cannot reliably hire top international graduates due to uncertain visa rules.

Trump noted that Apple CEO Tim Cook had repeatedly raised concerns that companies “don’t know whether or not you can keep the person” after hiring them. “Students are thrown out of the country,” Trump said. “It’s not going to be a problem anymore.”

Under the scheme, companies will be able to purchase a Gold Card and assign it to an employee. When that employee secures citizenship, the same corporate card may be reassigned to another worker.

Also Read: Dubai firm apologises for 'incorrect' Golden Visa claims

Corporate cards will carry a 1 per cent annual maintenance fee and a 5 per cent transfer fee. Trump argued that the programme will help the US retain global talent while generating “many billions of dollars” for federal use.

'Gift to America'

Positioning the Gold Card as a major restructuring of the skilled-migration system, Trump said companies would now have “certainty” when recruiting from elite universities.

“If IBM wants to hire someone at the top of their class at Wharton but can’t guarantee they stay, they can buy the Gold Card, and that employee can be here for a very long period of time,” he said. “You can’t get green cards. They’re impossible to get. This is much better,” he added.

According to the Trump administration, the Gold Card aligns with Trump’s agenda of prioritising “the best people” rather than relying on the current green-card system, which Lutnick claimed brings in immigrants who, on average, earn less than Americans and are more likely to depend on federal assistance.

Also Read: Immigrants with underlying health conditions may be denied visas to live in US: Report

“This will ensure only great people come into this country,” Lutnick said. “It is a gift to the United States of America, to help America be great again under Donald Trump.”

How to apply for ‘gold card’?

A third tier, the Platinum Card, which will allow stays of up to 270 days, is set to be launched later, according to the website. The application process for the 'Trump gold card' is now open.

• Visit trumpcard.gov
• Submit an online form
• Pay the US$ 15,000 processing fee
• Undergo federal vetting
• Make the USD 1 million (individual) or USD 2 million (corporate) contribution upon approval