Former U.S. President Donald Trump has introduced a new immigration program designed to attract wealthy investors and corporations to America, while also moving to replace the traditional green card system.
Through an executive order signed Friday, Trump unveiled the “Trump Gold Card”, priced at $1 million, which grants U.S. residency to foreign nationals after a $15,000 vetting process and background checks.
“They’re going to spend a lot of money to come in. It’s going to raise billions of dollars… which will reduce taxes, pay down debt, and fund other important programs,” Trump said during the announcement at the Oval Office.
Gold, Platinum, and Corporate Options
The program includes multiple tiers:
- Gold Card ($1M): Provides residency after vetting.
- Platinum Card ($5M): Allows holders to live in the U.S. for up to 270 days each year without being taxed on foreign income.
- Corporate Gold Card ($2M per worker): Enables companies to secure U.S. residency for employees, with transfer options between staff after approval.
Commerce Secretary Howard Lutnick noted that the Platinum Visa still requires congressional approval, which he expects by the end of the year. He also confirmed that revenue will be directed into a dedicated Treasury fund to support American commerce and industry.
Green Cards on the Way Out
According to Lutnick, the Gold Card will replace existing EB-1 and EB-2 visas for individuals of extraordinary or exceptional ability. He suggested that other green card categories could also be phased out within weeks of the rollout, signaling a major restructuring of the U.S. immigration framework.
Trump had first floated the idea earlier this year, branding it as a job-creating initiative that would simultaneously boost investment and reduce the national deficit.
H-1B Visa Fee Hike
The announcement came alongside Trump’s plan to raise the H-1B visa application fee to $100,000, a dramatic increase aimed at cutting reliance on the skilled-worker program. The move immediately impacted stock prices of major IT consulting firms such as Accenture and Cognizant, which dropped following the news.
With this latest immigration overhaul, Trump is betting that high-net-worth individuals and corporations will fuel America’s economy while replacing the decades-old green card pathway.
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