New US Residency Program: Trump’s ‘Gold Card’ for High-Net-Worth Individuals

The Trump administration has launched a new immigration initiative, the ‘Gold Card’ program, offering permanent US residency to wealthy applicants. Individuals are required to pay USD 1 million for permanent residency, while companies must invest USD 2 million per employee. The program supersedes the EB-1 and EB-2 employment-based green card categories, with 80,000 visas available. Commerce Secretary Howard Lutnick highlighted the program’s focus on attracting financially valuable contributors. Gold Card holders will be granted full rights, including the ability to live and work in the United States permanently and a path to citizenship, and are subject to worldwide taxation, similar to US citizens. This global tax requirement could dissuade those with complex international finances. The vetting process will be significantly more rigorous, with an additional USD 15,000 fee per applicant. The program will exclude individuals with national security concerns or criminal backgrounds. Corporate sponsorships have distinct employee retention rules. Additionally, the administration is planning a ‘Trump Platinum Card’ program, which would require congressional approval and a larger investment, but wouldn’t offer permanent residency or a path to citizenship.