Trump’s ‘Gold Card’ Visa Aims to Keep Top Foreign Graduates in the US

Former President Donald Trump has launched a new visa program. He calls it the ‘Trump Gold Card’. The plan targets top international students at US universities.

Trump announced the initiative during a roundtable event. He argued current rules force skilled graduates to leave America. This includes students from India, China, and other nations.

How the New ‘Gold Card’ Visa Program Works

The program offers a fast track to US residency. Individuals must pay a large fee to qualify. They need to make a $1 million contribution to the government.

A corporate version costs $2 million. Companies can sponsor foreign employees with this card. The card can be reassigned to new workers later.

Applicants pay a $15,000 processing fee first. They must pass strict federal vetting. The website trumpcard.gov is now active for applications.

According to Reuters, the plan is framed as an economic boost. Trump said it retains talent from schools like Harvard and MIT. He called the current system “ridiculous.”

A Direct Response to Corporate Concerns

American tech leaders have long complained about visa uncertainty. Trump mentioned Apple CEO Tim Cook’s concerns. Companies often cannot guarantee a foreign hire can stay.

The Gold Card is meant to solve this problem. It provides certainty for both employers and employees. Trump was flanked by CEOs from IBM and Dell during the launch.

Commerce official Howard Lutnick explained the vetting process. He said it ensures only highly qualified people benefit. Card holders get a path to citizenship after five years.

The administration claims this system is better than current green cards. They argue it brings in higher-earning immigrants. Lutnick called it a gift to help America be great.

The new ‘Gold Card’ visa represents a significant proposed shift in US immigration policy for skilled workers. Its success hinges on corporate adoption and the complex legal pathway ahead.

Info at your fingertips

What is the Trump Gold Card?

It is a new visa program proposed by Donald Trump. It offers expedited US residency for a $1 million contribution. A corporate sponsorship version costs $2 million.

Who is eligible for the Gold Card visa?

The program targets high-skilled foreign graduates from top US universities. Applicants must pass stringent federal background checks. Both individuals and corporations sponsored by companies can apply.

How does the Gold Card differ from a green card?

Trump described it as “much better, much more powerful” than a traditional green card. It promises faster residency and a clear path to citizenship. The process is contingent on a major financial contribution.

Can companies reuse a corporate Gold Card?

Yes. A company can assign the card to a specific employee. When that employee gains citizenship, the same card can be reassigned to another qualifying worker.

What are the fees for the Gold Card?

Individuals pay a $15,000 non-refundable processing fee. Upon approval, a $1 million contribution is required. Corporate cards have an annual 1% maintenance fee and a 5% transfer fee.