Trump Proposes $5 Million Immigration Gold Cards for Top Talent

New York, Feb 26 (NationPress) US President Donald Trump has revealed a proposal for an immigration Gold Card that corporations can purchase for $5 million to attract exceptionally skilled employees, addressing the challenges associated with work visas and green cards.

The Gold Card initiative, announced on Tuesday, is primarily aimed at affluent individuals who can invest in their own immigration.

"Apple and similar companies will have the opportunity to acquire a card for individuals who are top performers at prestigious educational institutions and whom they wish to hire," he stated in Washington.

He noted that under the existing employment visa system, graduates from elite schools such as the Wharton School of Finance, his own alma mater, as well as Harvard or Stanford, face uncertainty regarding their ability to work.

The Gold Card will provide green card benefits and serve as a pathway to citizenship, reducing the unpredictability of H-1B work visas which are assigned through a lottery system that may overlook top talent, as well as the extensive waiting periods for green cards that individuals from India often face.

Commerce Secretary Howard Lutnick mentioned that the Gold Card would replace the current EB-5 program, which grants immigration privileges to those investing between $800,000 and $1.05 million to generate jobs, depending on the designated areas.

President Trump emphasized that the Gold Visas will primarily target wealthy individuals and those who create employment opportunities.

Lutnick added, "We will ensure they are outstanding global citizens."

Trump indicated that this initiative could generate revenue for the US government, potentially aiding in deficit reduction. "If we sell a million cards, that would amount to $5 trillion — and selling ten million could yield $50 trillion," he remarked.

"We have $35 trillion in debt, so that would be beneficial," President Trump stated, mentioning that the Gold Visa program might be revealed in two weeks.

He asserted that the program was legal and would not necessitate Congressional approval, as it would function similarly to the allocation of green cards.

However, Congress has set national limits on green cards, and the Gold Card initiative may face limitations due to this.

Trump may also seek to eliminate certain programs, such as the green card lottery, which grants visas through a lottery system to nationals from countries that have not utilized their green card quotas.

"Why do we distribute green cards through lotteries?" Lutnick questioned.

"We shouldn't give them away," President Trump concurred.

The EB-5 program is scheduled to expire in 2027, when the five-year extension granted by Congress in 2022 concludes.

Lutnick labeled it a "low-cost program" and described it as "filled with nonsense, make-believe, and fraud."