Trump Launches $1M “Gold Card” Visa

Donald Trump unveiled a new initiative that will enable affluent foreigners to purchase a US “golden visa” for $1 million and a “platinum” version for $5 million. With the new “Trump Gold Card,” an official government portal guarantees US residence “in record time” after applicants have paid $1 million, passed a background check, and paid a $15,000 processing fee to the Department of Homeland Security (DHS). According to an executive order issued in September, companies that sponsor personnel must pay $2 million, while individuals must pay $1 million.

After that, businesses must pay a $20,000 yearly maintenance cost of 1% and a $100,000 transfer fee of 5% each time they wish to transfer an employee’s visa. The official website also states that a “Trump Platinum Card” is “coming soon.” With this card, users can stay in the US for up to 270 days without paying US taxes on income earned outside of the country. The price will be $5 million.

Source: The Guardian