Trump’s New H-1B Visa Move Sparks Debate Over Gold and Platinum Cards for Immigrants
Trump H-1B Visa Changes: On Friday, U.S. President Donald Trump unveiled the “Platinum Card” and “Trump Gold Card” visa programs aimed at attracting wealthy individuals to the United States. These new visa initiatives are designed to target the world’s wealthiest individuals by offering them U.S. residence permits at a premium cost.
The announcement came alongside a major change to the popular H-1B visa program, with Trump setting a steep $100,000 application fee. This change is expected to have the largest impact on applicants from India, who are the most frequent users of the H-1B program.
Trump’s Statement on the Visa Program
In a statement made Friday in the Oval Office, Trump said, “They’re going to spend a lot of money to come in.” He emphasized that the initiative would generate billions of dollars, which would be used for purposes such as reducing national debt and lowering taxes. “This will be a win-win situation for America,” he added.
This concept was initially proposed by Trump in February, where he described the new visa initiative as a tool to reduce the national deficit, stimulate foreign investment, and create jobs within the United States.
What Are the Gold and Platinum Cards for Trump?
Trump Gold Card
The Trump Gold Card is designed for individuals who are believed to be able to significantly advance American interests. To qualify for U.S. residence under this new program, applicants must commit to investing $1 million, which includes a non-refundable application fee and additional screening costs.
The official website for the program states, “The visa adjudication process will begin once the applicant’s processing fee is received and additional documents are provided in a timely manner.”
Once approved, applicants must contribute a $1 million donation, which is considered sufficient proof that the individual will provide significant benefits to the United States. Commerce Secretary Howard Lutnick emphasized that applicants would undergo “a much more rigorous vetting process than has ever been done before,” with the Gold Card’s vetting process estimated to cost $15,000.
The Trump Gold Card will replace the current EB-1 and EB-2 visa categories, which are designed for individuals with extraordinary abilities or exceptional qualifications. These visas are typically granted to foreign citizens who can make notable contributions to their fields or to the U.S. economy.
Trump Corporate Gold Card
The Trump Corporate Gold Card functions similarly to the Gold Card but is tailored for corporate sponsors. Under this program, companies can secure U.S. residency for one or more of their employees by paying a $2 million fee per employee.
What sets the Trump Corporate Gold Card apart is that corporate sponsors can transfer their sponsorship to a new employee without needing to pay an additional $2 million fee. This can happen as long as the initial employee sponsorship donation is used to justify the new sponsorship.
Additionally, there is a minimal annual maintenance fee and a transfer fee associated with the Trump Corporate Gold Card.
Trump’s Platinum Card
A more exclusive program is the Trump Platinum Card, which requires a $5 million investment. This card would allow holders to stay in the United States for up to 270 days per year without being taxed on foreign income.
However, this program is still pending legislative approval. According to Commerce Secretary Lutnick, the platinum card proposal will likely be brought to Congress for approval later this year.
How the New Visa Program Could Impact Immigration
Trump’s proposal is part of a broader strategy to overhaul the U.S. immigration system, particularly for wealthy foreign nationals and large corporations. By attracting high-net-worth individuals and investors, the Trump administration aims to stimulate the economy and bring in significant financial resources.
However, critics have expressed concerns about the fairness and accessibility of these new visa programs. The high costs and stringent vetting processes may limit participation to only the wealthiest individuals and corporations, potentially leaving out individuals who may have valuable contributions to make but lack the financial means to participate.
The new visa regulations, combined with the $100,000 application fee for the H-1B program, represent a significant shift in how the U.S. immigration system operates. It is expected to affect not just wealthy investors but also tech workers and skilled laborers from countries like India, who have historically benefited from the H-1B program.