The president said the change will raise revenues and limit the flow of foreign workers that compete with Americans.
WASHINGTON—President Donald Trump launched an immigration Gold Card and instituted a $100,000 fee for H-1B visa applicants, with executive orders he signed in the Oval Office on Sept. 19.
He said the orders will “reduce our taxes greatly and hopefully bring some great people into our country.”
Foreigners eligible for permanent resident status and interested in a Gold Card will pay an unspecified, nonrefundable processing fee, undergo comprehensive vetting by the Department of Homeland Security, and pay a $1 million contribution to receive expedited U.S. residency.
Those selected for inclusion in the program will receive EB-1 or EB-2 visas, as determined by the background review. All visas, including the Gold Card, are revocable based on national security risks and other criminal activity.
A Corporate Gold Card is available for $2 million per worker for corporations to sponsor employees. Businesses can switch out the individual sponsored by the card after respective security reviews are complete.
Annual maintenance fees and transfer fees apply, with details still undetermined.
As appropriately determined by the Department of Homeland Security and subject to availability, an applicant receives lawful permanent resident status as an EB-1 or EB-2 visa holder.
Trump Platinum Cards, which have not been released, will be available for a $5 million donation, plus processing fee, after security vetting is complete, and will provide cardholders with 270 days of annual visitation to the United States with no taxes due on non-U.S. income.
The application window is open for the Platinum Card, and applicants will be processed as they are received.
Howard Lutnick, secretary of commerce, said the program will prove successful because it is focusing on specialized workers and expects the system to bring in more than $100 billion in revenue.
“They’re going to spend a lot of money to come in,” he said. “They’re going to pay, as opposed to walking over the borders.”
He told reporters during a call after the event that the government plans to issue 80,000 Gold Cards. Vetting fees are expected to cost approximately $15,000.
Will Scharf, White House staff secretary, said the nation will benefit while providing opportunities for those with exceptional skills.
“It will set up a new pathway, new visa pathway, for people with extraordinary ability who are committed to supporting the United States,” he said during the event.
