US President Donald Trump signed an executive order authorizing the US government to grant foreigners permanent residency, the so-called “Trump Gold Card“, through an accelerated procedure for $ 1 million.
As the American leader noted, the new program is aimed at attracting “very successful“ and “very productive“ people to the US. “They will spend a lot of money to come“, emphasized the head of the administration in Washington. He added that this would allow the US government to attract “billions and billions of dollars that would go towards tax cuts, paying down the national debt and other useful things“.
As the US leader's advisers explained at the signing ceremony in the Oval Office of the White House, the new program creates “a new visa mechanism for foreigners with exceptional abilities who are willing to support the United States by paying $1 million“. In addition, it is possible for an American company to pay the US government $2 million to grant permanent residency to its foreign employee through an expedited procedure.
The program's website specifies that it also provides foreigners with a permanent residence permit, the so-called Trump Platinum Card, upon payment of $5 million. Recipients will not be required to pay U.S. taxes on income earned outside the country.
As U.S. Commerce Secretary Howard Lutnick emphasized in a speech at the White House, the Washington administration hopes the program will attract those who "will create businesses and jobs for Americans." "This program will raise over $100 billion for the U.S. Treasury," Lutnick noted.
On Friday, Trump also signed an executive order amending the rules for issuing special H-1B visas that allow American companies to hire highly skilled specialists from other countries. Companies will now have to pay a $100,000 fee to take advantage of this opportunity. Washington administration officials noted that these changes are aimed at encouraging American businesses to hire and train Americans, not foreigners.