US to Grant Million-Dollar Visa to Foreigners in Bid to Boost Economy.
The Trump administration has introduced a new 'gold card' visa, priced at $1 million, aimed at attracting wealthy foreigners and generating significant revenue for the government. The program promises expedited processing times, compared to regular green cards, which can take anywhere from eight months to three years.
To apply for a gold card, applicants must pay an upfront non-refundable fee of $15,000 to the Department of Homeland Security, undergo a vetting process including a visa interview, and make a $1 million donation to the federal government. The new program also offers a platinum card option for corporations that want to secure visas for workers, with a cost of $5 million.
The gold card program is designed to fast-track applications from highly skilled foreign workers or entrepreneurs who are willing to invest in the US economy. It could attract top talent and boost economic growth. However, critics warn that it may be too expensive for many applicants, making it a niche program rather than a broad solution to address labor shortages.
In contrast, existing EB-5 visas require applicants to spend at least $1 million on a business venture that creates at least 10 jobs. The process is often slow and prone to fraud, with some cases involving individuals defrauding investors of millions of dollars.
Under the new gold card program, successful applicants will receive an EB-1 or EB-2 visa, which grants permanent residency status. They can apply for citizenship after five years.
The Trump administration has introduced a new 'gold card' visa, priced at $1 million, aimed at attracting wealthy foreigners and generating significant revenue for the government. The program promises expedited processing times, compared to regular green cards, which can take anywhere from eight months to three years.
To apply for a gold card, applicants must pay an upfront non-refundable fee of $15,000 to the Department of Homeland Security, undergo a vetting process including a visa interview, and make a $1 million donation to the federal government. The new program also offers a platinum card option for corporations that want to secure visas for workers, with a cost of $5 million.
The gold card program is designed to fast-track applications from highly skilled foreign workers or entrepreneurs who are willing to invest in the US economy. It could attract top talent and boost economic growth. However, critics warn that it may be too expensive for many applicants, making it a niche program rather than a broad solution to address labor shortages.
In contrast, existing EB-5 visas require applicants to spend at least $1 million on a business venture that creates at least 10 jobs. The process is often slow and prone to fraud, with some cases involving individuals defrauding investors of millions of dollars.
Under the new gold card program, successful applicants will receive an EB-1 or EB-2 visa, which grants permanent residency status. They can apply for citizenship after five years.
think about all the young entrepreneurs and professionals who wanna make it big in America, but they just can't afford that kind of price tag 
. It's like they're saying, "Hey, we want you to bring your money and talent to our country, but first, let's drain your wallet 
". I feel like this program is gonna be more about lining the pockets of the rich than actually helping out the US economy 
. What do u think? 
I'm actually kinda excited about this new program tho! 
It's awesome that the US gov is trying to attract more foreign talents and boost its economy 
. I think it's a great opportunity for people who are passionate about entrepreneurship or high-skilled jobs 
. Of course, $15k upfront fee might be a bit steep for some ppl 
but hey, it's a million-dollar chance (get it?) 
. And I'm not even getting started on the fact that companies have to pay $5 million for platinum cards... it's just so out of touch with reality