Trump administration launches $1 million “gold card” visa for wealthy foreigners

US President Donald Trump has unveiled the “Gold Card,” a new visa program offering wealthy foreigners fast-track access to live and work in the US for a $1 million fee.

Commerce Secretary Howard Lutnick, who joined Trump in the Oval Office for the announcement on September 19, said the program aims to replace the current EB-1 and EB-2 visas for individuals of “exceptional value," according to Politico. 

Initially, 80,000 gold cards will be made available.

“We were taking in the bottom quartile,” said Lutnick. “We are going to stop doing that. We are going to only take extraordinary people at the very top, instead of people trying to take the jobs from Americans.”

The administration estimates the program could raise $100 billion in revenue, with Trump suggesting the funds could help reduce taxes and pay down national debt.

Applicants must pay a $1 million fee, plus a $15,000 vetting charge. Corporations sponsoring employees would pay $2 million. Gold card holders would be taxed on global income like US citizens or permanent residents.

A separate “Trump Platinum Card” — a $5 million visa with tax exemptions for up to 270 days — is not expected soon. Lutnick noted it would require congressional approval.

The rollout comes amid broader immigration restrictions. On the same day, the administration added a $100,000 fee to the H-1B visa program to reduce usage. Legal experts warn the gold card could face challenges for allowing applicants to bypass existing immigration lines.

By Sabina Mammadli