Trump Unveils $1m 'Gold Card' Immigration Visa Program

Former US President Donald Trump has unveiled a controversial scheme offering expedited US visas to wealthy foreign nationals willing to invest at least $1 million (approximately GH₵13.7 million as of November 16, 2023) in the American economy.

Announcing the initiative on social media on Wednesday, Trump stated the “Trump Gold Card” provides a “direct path to Citizenship for all qualified and vetted people.” He added, “SO EXCITING! Our Great American Companies can finally keep their invaluable Talent.”

According to the scheme’s official website, the Gold Card is a US visa granted to individuals who can demonstrate a “substantial benefit” to the country. It promises “record time” residency in exchange for the hefty $1 million investment, considered “evidence that the individual will substantially benefit the United States.”

Businesses sponsoring employees face a $2 million (approximately GH₵27.4 million) fee, alongside additional charges. A “platinum” version, offering special tax advantages, is slated for release soon at a cost of $5 million (approximately GH₵68.5 million).

Applicants are also required to pay a non-refundable $15,000 (approximately GH₵205,000) processing fee before their applications are reviewed, with potential additional government fees depending on individual circumstances.

The scheme has already drawn criticism, with some Democratic lawmakers arguing it unfairly prioritizes wealthy individuals. Concerns have been raised about creating a two-tiered immigration system.

Trump initially presented the plan as comparable to traditional green cards, which allow immigrants of varying income levels to reside and work in the US permanently, typically becoming eligible for citizenship after five years. However, he clarified the Gold Card is specifically targeted at “high-level” professionals.

“We want people that are productive,” Trump said. “The people that can pay $5m, they’re going to create jobs,” he further stated, predicting, “It’s going to sell like crazy. It’s a bargain.”

This initiative unfolds amidst the Trump administration’s ongoing focus on immigration enforcement, including increased deportations. The US has also temporarily suspended immigration applications from individuals originating from 19 countries, predominantly in Africa and the Middle East, due to existing travel restrictions.

Furthermore, the government has paused decisions on asylum claims and is reviewing thousands of cases previously approved under President Joe Biden’s administration. In September, Trump signed an order imposing a $100,000 (approximately GH₵13.7 million) fee on applicants for the H-1B visa, a program for skilled foreign workers, sparking concern among international students and tech companies. The White House later clarified this fee would only apply to new applicants residing outside the US.

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