UPDATE: The Trump administration has just announced that sales of the controversial new immigration program, dubbed the “Gold Card,” have surged to an impressive $1.3 billion. This urgent development highlights a fast-track pathway for foreign nationals and corporations seeking U.S. citizenship, with funds directly benefiting the U.S. Treasury.
During a White House event on December 10, 2023, President Donald Trump touted the Gold Card initiative, describing it as “essentially the green card on steroids.” The program allows non-Americans to expedite their citizenship process by investing $1 million plus a $15,000 processing fee. Corporate entities can participate by contributing $2 million, along with the same processing fee.
The Gold Card is designed to grant U.S. residency “in record time,” according to the program’s official website. Notably, corporations can also assign U.S. citizenship to employees through this program, with a 5% transfer fee covering the cost of background checks. An additional 1% annual maintenance fee is required for the corporate option.
Commerce Secretary Howard Lutnick confirmed that this new system is set to replace the existing EB-5 visa program, which has been in place since 1990. He emphasized that all applicants will undergo rigorous vetting, ensuring that the program maintains a high standard of security.
The announcement has sparked significant interest and debate among immigration advocates and potential investors. Supporters claim it will stimulate economic growth and fund U.S. debt reduction, while critics argue it may prioritize wealth over merit in the citizenship process.
As the Trump administration pushes forward with this initiative, the implications for immigration policy and the economy could be profound. Analysts are closely monitoring how this program will evolve and its potential impact on the U.S. immigration landscape.
Next Steps: As the Gold Card program gains traction, stakeholders from various sectors will be watching its rollout closely. Expect further updates on how this initiative will shape the future of U.S. immigration policy and its reception among foreign investors.
Stay tuned for more breaking news on this developing story.
