U.S. President Donald Trump on Wednesday announced the “Trump Gold Card,” a fast-track immigration program for wealthy foreigners.
The initiative allows foreign nationals to secure U.S. residency in exchange for a $1 million contribution, Trump said at a White House event.
Applicants must first pay a $15,000 processing fee to the Department of Homeland Security. Background checks are required before the $1 million contribution.
The official portal, trumpcard.gov, promises approval in “weeks” after submission, including a visa interview. Additional State Department fees may also apply.
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Successful applicants receive lawful permanent residency under EB-1 or EB-2 employment-based categories for individuals with “extraordinary” or “exceptional” abilities, according to the website.
The administration also announced a premium “Trump Platinum Card.” For $5 million, holders could stay 270 days per year without U.S. tax on foreign income.
Critics note that modifying the EB-5 immigrant investor program may require congressional approval. Trump claims the plan could raise $1 trillion to reduce national debt.