US President Donald Trump on Wednesday officially launched the long‑anticipated “gold card” visa, a premium pathway to US residency priced at $1 million for individuals and $2 million for companies sponsoring foreign-born employees.
The application portal went live as Trump unveiled the scheme in the Roosevelt Room, flanked by top American business leaders.
The programme replaces the decades‑old EB‑5 investor visa, which since 1990 has required about $1 million in investment tied to the creation of at least ten jobs.
Trump described the new system as a revenue‑generator for the US Treasury and a tool for attracting global talent, without the job‑creation requirements that defined EB‑5.
“All funds taken in as part of the programme will go to the US government,” Trump said, projecting that the gold card could bring “a tremendous amount of money” into federal coffers, reported Business Standard.
Reprising a theme he has emphasised for months, he argued that US visa limits make it difficult for companies to retain highly skilled foreign graduates. “You can’t hire people from the best colleges because you don’t know whether or not you can keep the person,” he said.
Senior executives, including Michael Dell (Dell Technologies), Enrique Lores (HP), Antonio Neri (Hewlett Packard Enterprise) and Arvind Krishna (IBM) attended the White House rollout.
What Exactly Is the Gold Card Visa?
First announced in September, the gold card visa was conceived as a residency route for wealthy individuals willing to pay a substantial fee. An executive order directed the Secretaries of Commerce, State and Homeland Security to build the programme within 90 days, a deadline that falls on December 18.
Under the current launch terms, individuals pay $1 million for a gold card, companies pay $2 million per sponsored employee, and a $15,000 processing and vetting fee applies to every application.
A $5 million platinum card is also planned, allowing holders to spend up to 270 days a year in the US without being subject to US taxes on non‑US income.
Trump repeatedly described the gold card as “basically a green card but much better. Much more powerful, a much stronger path.”
Although the initiative appears to introduce a new residency category, the administration says it intends to rely on existing EB‑1A and EB‑2 NIW visa frameworks, raising questions about how much congressional approval is needed. Homeland Security Secretary Kristi Noem said on X that applicants would be able to obtain “expedited EB‑1 or EB‑2 green cards following rigorous vetting.”
Applicants must choose between EB‑1A (extraordinary ability), or EB‑2 NIW (exceptional ability with a National Interest Waiver). Those applying under EB‑2 NIW must file an uncertified ETA‑9089 (PERM) along with supporting documents.
Who Files the Petition?
A petition may be filed by either the individual, paying $1 million per person, including each dependent family member, or a company, paying $2 million for the primary applicant and $1 million per dependent.
Applicants must disclose the total number of beneficiaries attached to the filing.
What Personal and Background Details Are Required?
The main applicant must disclose extensive personal information, including:
- All names used, citizenships, passport details and US entry history
- 20‑year employment history
- Military or government service
- Full academic history
- Complete marital history
Spouses and children must file their own supplements with matching information.
Financial Documentation
Self‑petitioners must provide detailed evidence of net worth and the source of their funds. This may include:
- Five years of bank statements
- Seven years of tax returns
- Income certificates
- Property sale documents and valuations
- Business records and tax filings
- Gift, inheritance or insurance papers
Applicants must also list every financial account, including digital‑asset wallets, and document the flow of funds used for the payment.
Integrity and Security Disclosures
Applicants must answer fourteen security questions covering areas such as money laundering, sanctions, espionage, terrorism, and human trafficking. “Yes” responses require documentary explanations.
Procedural Rules
The filing comes with strict guidelines, such as the $15,000 fee is non‑refundable. English translations are mandatory for foreign documents, and bioometrics and interviews may be required. Decisions are issued both digitally and in writing. Providing false information can lead to criminal prosecution.
While Trump has framed the gold card as a fast‑track, market‑friendly overhaul, several ambiguities remain. Immigration experts note that creating a de facto paid-entry green card may invite legal challenges if Congress is not involved.
Others point out that the underlying reliance on EB‑1 and NIW categories, both of which require rigorous merit‑based evidence, may limit eligibility, regardless of payment.
