On Friday, December 19, President Trump showcased the newly launched “Trump Gold Card” at the White House, revealing that sales had already reached $1.3 billion in less than 10 days.
The “Gold Card” is a new type of investment immigration program that allows non-U.S. citizens to pay for expedited U.S. citizenship. The Gold Card website went live on December 10.
According to the government, sales of the Gold Card have reached $1.3 billion in the past few days. If calculated at $1 million per card, this means the Trump administration has sold 1,300 Gold Cards in just a few days.
President Trump vigorously promoted this immigration program during the White House event on Friday and displayed a Gold Card. He stated that funds raised through the Gold Card program would be transferred to the U.S. Treasury to reduce the national debt.
The President said, “This is essentially a super green card.”
According to the Gold Card website, foreign citizens can pay a $1 million “contribution fee” plus a $15,000 processing fee to obtain the “Trump Gold Card,” which will grant them permanent residency in the U.S. “in record time.” Additionally, businesses can participate in the program by making a $2 million donation plus the $15,000 processing fee.
The “Corporate Gold Card” will allow companies to provide legitimate status in the U.S. for foreign employees, eventually leading to U.S. citizenship. It can also be transferred between employees with a 5% transfer fee covering the cost of background checks. Companies will also be required to pay a 1% annual maintenance fee.
This program is similar to the existing EB-5 visa program. The U.S. initiated the EB-5 investment immigration program in 1990 to encourage foreign investors to create job opportunities in the U.S.
Secretary of Commerce Howard Lutnick mentioned considering replacing the EB-5 visa program with the Trump Gold Card system, emphasizing that all applicants will undergo stringent scrutiny and must provide full details to immigration authorities regarding the legitimate source of funds.