US Launches Gold Card for Permanent Residency

President Donald Trump on Friday introduced a new immigration initiative dubbed the “gold card”, a visa pathway carrying a $1 million price tag that promises fast-tracked residency and work rights in the United States for affluent foreigners.

The announcement, delivered from the Oval Office, marked one of the administration’s most high-profile policy shifts to date in immigration and investment strategy.

Details of the Gold Card Program

Commerce Secretary Howard Lutnick, who joined Trump during the unveiling, confirmed that the gold card will replace the EB-1 and EB-2 visa categories. These categories traditionally catered to individuals with “exceptional ability” in fields such as science, business, or the arts.

The launch phase will begin with 80,000 slots available, though officials indicated that the number could expand in the future. Lutnick projected that the program could generate $100 billion in government revenue, with President Trump suggesting those funds might be used to lower federal taxes and reduce national debt.

Applicants under the program would be required to pay:

• $1 million per application
• $15,000 vetting fee for background checks and due diligence
• $2 million fee for corporations sponsoring foreign workers

Lutnick emphasized that recipients of the gold card would be treated similarly to green card holders, including being subject to U.S. global taxation rules.

A Shift in Immigration Philosophy

Trump framed the program as part of a broader effort to recalibrate U.S. immigration priorities.

“We were taking in the bottom quartile,” Lutnick said, referring to existing visa systems. “Now we’re only going to accept extraordinary people at the top — not those competing with American workers.”

The administration described the initiative as a way to attract “elite global talent” while ensuring that entry into the U.S. brings direct financial benefits to the government.

Platinum Card Proposal Still on Hold

Officials also acknowledged that a more expensive option, tentatively titled the “Trump Platinum Card,” has been under consideration. That visa would reportedly cost $5 million and allow up to 270 days of U.S. residency annually without foreign income taxation.

However, Trump did not mention the platinum card during Friday’s remarks. Lutnick clarified that such a plan would require Congressional approval before implementation, making it less immediate than the gold card.

Broader Context of Trump’s Economic Strategy

The new visa program comes as part of a series of unconventional revenue-generating measures rolled out by the Trump administration. Since returning to office, Trump has:

• Increased tariffs on a wide range of imports
• Demanded partial revenues from U.S.-based tech companies, including Nvidia
• Acquired government stakes in corporations such as Intel
• Proposed new measures to tap into university patent profits

The gold card adds another tool to this approach, targeting the immigration system as a source of financial inflows.

Immigration Crackdowns in Parallel

The rollout also coincided with new restrictions on both legal and illegal immigration channels. On the same day, the administration announced a $100,000 annual fee for H-1B visa petitions, arguing that the popular program has been abused by companies replacing U.S. workers with cheaper foreign labor.

Other curtailments have included scaling back Temporary Protected Status, limiting humanitarian parole, and intensifying enforcement against undocumented migrants.

Potential Legal and Political Challenges

Immigration experts predict that the gold card initiative could face lawsuits. Critics argue that establishing a fast-track pathway for wealthy foreigners undermines the principle of fairness in the U.S. immigration system and discriminates against talented applicants who cannot afford such steep costs.

Legal scholars also point out that sweeping changes to long-established visa categories like EB-1 and EB-2 may trigger challenges in federal courts, particularly if opponents argue that the administration has overstepped its authority without congressional approval.

What Comes Next

Despite the criticism, the Trump administration remains confident in the program’s appeal. By combining residency rights with a substantial upfront investment, the White House sees the gold card as a means of both boosting U.S. revenues and attracting high-net-worth individuals capable of driving economic activity.

Whether the initiative proves successful — or becomes mired in legal battles — will determine if the gold card reshapes U.S. immigration policy or remains one of several bold, but contested, Trump-era experiments.