The Donald Trump administration is inching closer to introducing its “Gold Card” visa. The programme would grant US residency to wealthy foreigners willing to make hefty financial contributions.
The US Citizenship and Immigration Services (USCIS) has now filed a draft of Form I-140G with the Office of Management and Budget (OMB) before the application system can open. The government is working towards a December 18 launch, pending approval.
What Is Trump's Gold Card?
The Gold Card is a visa for people who can give a “substantial benefit” to the United States.
Applicants must:
- pay a non-refundable application fee
- submit documents on time
- and later make a $1 million gift if approved
The administration says this gift proves the applicant will benefit the country. If approved, the person becomes a lawful permanent resident under the EB-1 or EB-2 categories.
The visa can be cancelled for national security or other risks.
Donald Trump Gold Card: Cost
- $1 million contribution for individuals
- $2 million for corporate-sponsored applicants
- $15,000 non-refundable processing fee
There is also a Platinum Card option. It requires a $5 million contribution and lets a person spend up to 270 days a year in the US without paying US tax on foreign income. More details on this tier are still unclear.
How To Apply For The Trump Gold Card: Eligibility
- Submit a Gold Card request to the Department of Commerce.
- Pay the $15,000 fee through pay.gov.
- File Form I-140G with USCIS, showing the legal source of the money.
Applicants must prove the money is legal and complete strict background checks. These include checks on:
- criminal history
- money laundering
- national security risks
- tax records
- bank statements
- cryptocurrency holdings
If approved, applicants must go to a US consulate abroad to receive their permanent-resident status. People already inside the US may be allowed to adjust their status, but rules are still being finalised.
Replacing The EB-5 Visa
The Gold Card is expected to replace the current EB-5 investor visa, which requires investing in a US business and creating 10 jobs. Critics say EB-5 is slow and often linked to fraud.
US Commerce Secretary Howard Lutnick said EB-5 is “full of nonsense, make-believe and fraud.” He added, “So the President said, rather than having this sort of ridiculous EB-5 program, we're going to end the EB-5 program. We're going to replace it with the Trump Gold Card, which is really a Green Card Gold,” as per Reuters.
The Gold Card is not open yet. USCIS and the Commerce Department will release more instructions in the coming weeks. Form I-140G is still under OMB review and may change.
