Daijiworld Media Network- New York
New York, Feb 26: US President Donald Trump has unveiled plans for an exclusive Immigration Gold Card, allowing companies to purchase it for $5 million to retain highly skilled employees, addressing the uncertainties surrounding work visas and green cards.
The initiative, announced on Tuesday, is also designed for wealthy individuals who can acquire the card independently.
“Apple and other leading companies will be able to buy this card for top-tier graduates from institutions like Wharton, Harvard, and Stanford, ensuring they can work without immigration hurdles,” Trump said in Washington.
Currently, highly skilled professionals face challenges under the H-1B visa system, which operates on a lottery basis, and decades-long green card backlogs, especially for applicants from India. The Gold Card aims to provide green card benefits with a direct pathway to citizenship.
Commerce Secretary Howard Lutnick confirmed that the Gold Card would replace the EB-5 investor visa programme, which grants immigration benefits to those investing between $800,000 and $1.05 million in job creation.
The new initiative will primarily target wealthy individuals and job creators. “We will ensure that the recipients are world-class global citizens,” Lutnick added.
President Trump emphasized that the Gold Card programme could be a significant revenue generator for the US government, helping to reduce the national deficit.
“If we sell a million cards, that’s $5 trillion. Ten million cards would generate $50 trillion,” he noted, highlighting its potential impact on the country’s $35 trillion debt.
The administration plans to launch the program within two weeks, asserting that it does not require Congressional approval as it aligns with existing green card allocations. However, Congressional limits on green cards may impact its implementation.
Additionally, the government may consider scrapping programs such as the green card lottery, which grants visas through a random selection process to applicants from underrepresented nations.
“Why are we giving away green cards through a lottery?” Lutnick questioned, to which Trump responded, “We shouldn’t be giving them away.”
With the EB-5 programme set to expire in 2027, Lutnick criticized it as a flawed and fraudulent system, stating that the new Gold Card would provide a more structured and beneficial alternative for attracting investment and talent to the United States.