Donald Trump’s latest plan for attracting rich people with a purchase offering residency in return is nothing to fear. The program, misleadingly named the “Trump Gold Card,” allows wealthy would-be migrants to buy their way into U.S. residency. As described on the official government webpage, this process occurs in record time.
To be part of this program people have to be within a specific economic threshold. Each person that applies has to submit a hefty processing fee of $15,000 per applicant to the Department of Homeland Security (DHS). What’s more, they must commit to a big investment—at least $1 million. This action comes in the wake of an executive order signed in September. Today, those hoping to get the residency have to pay this hefty sum. Employers that sponsor employees through this program will owe $2 million. They have to pay an annual maintenance charge of 1% – $20,000 a year.
The financial requirements do not end there. Additionally, businesses that wish to transfer a visa from one employee to another would be subject to a 5% transfer fee. This would require them to pay $5,000 every instance they want to implement that revision. Even as this new program is expected to bring in billions of dollars. Use in support of a fund for beneficial national projects.
In this release announcing the new pilot initiative, Trump emphasized the high quality of candidates the program is intended to draw.
“Essentially, we’re having people come in, people that, in many cases, I guess, are very successful or whatever,” – Donald Trump
Kristi Noem, Governor of South Dakota, elaborated on the program’s benefits, stating that under this “historic initiative,” qualified individuals and corporations would receive expedited EB-1 or EB-2 green cards after undergoing rigorous vetting.
The program expects to launch a “Trump Platinum Card” in the near future. This special provision has a hefty price tag of $5 million. It allows holders to spend up to 270 days of the year in the U.S. without having to pay U.S. taxes on their foreign-source income.
Trump expressed enthusiasm over the potential impact of these programs, suggesting that they provide a direct path to citizenship for qualified individuals while benefiting American companies.
“A direct path to Citizenship for all qualified and vetted people. SO EXCITING! Our Great American Companies can finally keep their invaluable Talent,” – Donald Trump
Plus, The Trump Gold Card – coming soon! This event comes on the heels of increased scrutiny and more stringent regulation over anti-immigrant policies. Trump was clear that this program is a more orderly process, as opposed to illegal border crossings.
“They’re going to spend a lot of money to come in. They’re going to pay, as opposed to walking over the borders,” – Donald Trump