US President Donald Trump has announced a new immigration system that allows foreign nationals to obtain US citizenship much faster at a price of USD 1 million. The golden visa, or the Trump Gold Card, is one of the most expensive immigration schemes in the world. Trump has sold the idea of the gold card as being more powerful and quicker than the traditional green card.
According to Reuters, the official website Trumpcard.gov allows applicants to apply with a processing fee of around USD 15,000 to the US Department of Homeland Security for a faster review. The visa is valid for 3 years with an option to renew once for a total of six years.
It is interesting to see that the new immigration move is launched when the Trump administration has intensified its actions against foreign nationals and immigrants. The viral videos of ICE agents detaining individuals have flooded social media.
What is the difference between the Trump Gold Card and Green Card
Things to know about the Trump Gold Card
- Trump Gold Card offers an expedited process at a fee of USD 15,000 plus, and after passing a background check, a fee of USD 1 million as a “contribution” or “gift” to the US government, according to Reuters.
- Companies that want to expedite the residency for their employees can pay USD 2 million per applicant as per Trump’s September executive order.
- It is designed for wealthy foreign nationals who are willing to pay an exorbitant amount of money for the residency.
- The card does not offer permanent citizenship; rather, it offers legal residency despite Trump advertising it as a “direct path to citizenship.”
Things to know about the traditional Green Card
- There is no money involved generally; it is obtained through family sponsorships, employment or other qualifying routes
- The eligibility criteria are broad; it can be given to refugees on humanitarian grounds or through the EB-5 route.
- The time frame is uncertain and can be bureaucratic; it depends on country quotas, sponsorship, and application backlog.
- It is considered more merit-based or need-based and is accessible to all kinds of people irrespective of their wealth.
Trump has said that this approach will bring in “successful people” who will invest in the US rather than those who come in walking over the border.
