According to reports from various media outlets, including Fragomen, the United States Citizenship and Immigration Services (USCIS), commonly known as the Immigration Bureau, has recently submitted a draft application for the “Gold Card” permanent residency program to the federal government for review, just before the scheduled implementation date of December 18th. This move symbolizes a significant step taken by the Trump administration in launching this program.
The draft form is named I-140G and has now been sent to the Office of Management and Budget (OMB) in the White House for further processing.
The upcoming “Gold Card” program aims to provide services for applicants seeking permanent residency, allowing foreign citizens to make significant economic contributions to the United States by donating to the Department of the Treasury in exchange for permanent residency.
According to Fragomen, the Immigration Bureau stated that the application fee is expected to be $15,000 per applicant, with donations of $1 million required for individual applicants and $2 million for enterprise applicants with guarantees, falling under the EB-1 (Outstanding Talents) or EB-2 (National Interest Waiver) category.
The “Gold Card” program was initially announced via an executive order in September, mandating the Immigration Bureau to commence operations by December 18th. More detailed operational processes are expected to be announced in the coming weeks.
In February of this year, President Trump first proposed the “Gold Card” program, intending to offer United States permanent residency to individuals investing $5 million in the country, though subsequently revised to lower the investment threshold. In September, President Trump signed an executive order establishing the program officially and outlining its implementation framework.
According to the implementation framework set in September, the operational processes will involve a comprehensive review of applicants’ financial status, including proofs of legitimate fund sources and flows, tax records, bank statements, and any cryptocurrency holdings if applicable.
In a proposal submitted to OBM, the Immigration Bureau stated, “Form I-140 requests companies or similar entities to provide 3 years of federal tax returns, annual reports, and/or audited financial statements.”
Immigration officials emphasize that while the “Gold Card” program aims to attract economic contributions, all applicants will undergo rigorous national security and anti-money laundering checks, disclosing any criminal records related to money laundering, terrorism, human trafficking, espionage activities, or other issues that may affect their eligibility.
Once approved, applicants will need to complete consular procedures overseas to obtain permanent residency. Applicants within the United States may need to adjust their statuses, with specific details still being developed.
Some experts suggest that the “Gold Card” program may entail significant legal uncertainties, as it is an executive order by the administration, potentially subject to judicial challenges, and court rulings could alter or even halt the program.
Morgan Bailey, a partner at Mayer Brown law firm and former senior official at the Department of Homeland Security (DHS), told Newsweek, “The Gold Card program is not a congressional legislation but an executive order from the administration, it’s a nascent entity, and its operations and legal environment are still evolving, subject to potential modifications by future governments.”