Trump launches gold card
US President Donald Trump has launched a gold card programme that offers fast-tracked citizenship to wealthy foreigners who can pay at least $1 million.
Trump announced the card’s launch on Wednesday in a Truth Social post alongside a website where interested persons can apply.
To apply, an applicant must pay a non-refundable $15,000 processing fee to the Department of Homeland Security (DHS), after which a background approval and a subsequent payment of $1 million must be made to receive US residency in “record time”.
“Additional small fees to the U.S. Department of State may apply depending on the applicant,” the website noted.
Advertisement
A separate corporate gold card was also launched requiring businesses sponsoring employees to pay $2 million with additional fees.
The corporate gold card is subject to a one percent annual maintenance fee and a five percent transfer fee, which includes the cost of a new DHS background check.
A second platinum card, valued at $5 million, was also floated. Though not yet launched, the card will exempt successful applicants from certain taxes.
Advertisement
Successful applicants will also be able to spend up to 270 days in the US without being subjected to taxes on non-US income.
The scheme comes as the Trump administration intensifies its anti-immigration programme, deporting millions of “illegal” immigrants, and attempting to scrap a legal birthright citizenship framework for children of undocumented immigrants.
Trump floated the programme earlier this year, suggesting millions of such cards could be sold.
The official launch makes it one of the most expensive routes to citizenship.
Advertisement
Citizenship by investment programmes globally often range from $250,000 to €750,000.
Rights groups have criticised the gold card programme, saying it contradicts the US’ traditional reputation as a refuge for the hardworking poor and oppressed.
