Trump's 'Gold Card' Visa Scheme Sees Minimal Interest with Only One Applicant
Trump's lonely 'gold card' club as just one person takes up pricey visa option
Dailystar Co Uk
Image: Dailystar Co Uk
Former US President Donald Trump's 'gold card' visa program, designed for wealthy individuals seeking residency in the United States, has seen little success, with only one application approved since its launch. The program charges $1 million per person and aims to attract those who can significantly benefit the US economy.
- 01Only one applicant has been approved for the 'gold card' visa since its launch.
- 02The visa costs $1 million for individuals and $2 million for companies, plus a $15,000 vetting fee.
- 03The program was expected to generate up to $100 billion for the US government.
- 04A platinum version of the visa is planned, costing $5 million.
- 05The 'gold card' aims to replace existing employment-based visas for individuals with exceptional value.
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The 'gold card' visa program, introduced by former US President Donald Trump, aimed to create an expedited pathway for wealthy individuals to gain residency in the United States. The visa comes with a hefty price tag of $1 million per person, or $2 million for companies seeking visas for employees, alongside a $15,000 vetting fee. Despite initial expectations that it could generate up to $100 billion for the US government, interest has been shockingly low, with only one application approved since the program's inception. Commerce Secretary Howard Lutnick had previously stated that around 80,000 gold cards would be available, emphasizing that the program seeks to attract 'extraordinary people.' However, as of now, the administration has only approved one unnamed individual. The application process, which began in December, is described as rigorous, with Lutnick claiming there are 'hundreds' of potential applicants in the queue. Additionally, a platinum version of the visa is set to launch soon, priced at $5 million, allowing holders to stay in the US for up to 270 days without being taxed on non-US income. The 'gold card' is intended to replace existing employment-based visas, such as EB-1 and EB-2, which are granted to individuals with advanced degrees or extraordinary abilities.
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The lack of interest in the gold card visa could indicate a disconnect between government initiatives and the needs of potential applicants, affecting future immigration policies.
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