US launches Trump Gold Card: Eligibility and cost explained
The US government unveiled the Trump Gold Card on Wednesday, alongside the Trump Corporate Gold Card.
A separate Trump Platinum Card was announced but not released.
But what exactly are these new cards? How much do they cost, and who is eligible?
Trump Gold Card
An initial $15,000 non-refundable processing fee is required for the card, which itself is a visa.
The applicant will need to show a $1 million “gift” after vetting and review is completed as evidence that they will “substantially benefit the United States.”
“Small, additional fees” may need to be paid to the State Department, according to the trumpcard.gov website. No further details on this were provided.
Trump Corporate Gold Card
The Trump Corporate Gold Card is available to companies. A similar $15,000 processing fee is required for each employee. Companies can apply for multiple employees at once.
However, a $2 million gift per applicant is required upon completion of the vetting and review.
“The advantage of the Trump Corporate Gold Card is that corporate sponsors may cease sponsoring one employee and use the gift contribution tied to the prior application as a basis for sponsoring a new employee, without a new $2 million gift,” the government website said.
There is a 1 percent annual maintenance fee and a 5 percent transfer fee, which includes the cost of a new Department of Homeland Security background check.
Who is eligible, and can the card be revoked?
Applicants must be eligible for lawful permanent resident status, admissible to the United States, and a visa must be available.
Some nationalities may experience longer wait times due to visa availability.
The entire process after the fees and applications are received should take weeks. A visa interview will be scheduled, and additional documents may be requested.
In both cases, a successful applicant becomes a Lawful Permanent Resident (LPR), also known as an EB-1 or EB-2 visa holder.
Spouses and unmarried children under 21 years old can be included in an initial application for either card. But each family member is subject to an additional $15,000 processing fee and a $1 million gift.
And since the cards are a form of visa, they can be revoked at any time for national security or significant criminal risks.
Trump Platinum Card
Although this has not been released, the Trump Platinum Card will allow a successful applicant to reside in the US for up to 270 days per year without being subject to tax on non-US income. A travel visa will no longer be needed if an applicant successfully obtains this card.
But there is a waiting list already for the card, which requires a $5 million contribution. The required contribution is subject to increase, the website showed.
