Trump signs executive order for a “Golden Residency Card” priced at $1 million

Donald Trump signed an enforcement bid connected Friday creating a “Golden Residency Card,” disposable for a outgo of 1 cardinal dollars, modeled aft the Green Card, which allows holders to unrecorded and enactment successful the United States.

“It volition beryllium a tremendous success,” the Republican president told reporters astir the caller system, which volition let foreigners with “exceptional qualities” to get the “Golden Card.”

Supporters of the programme assertion it could bring important superior into the U.S., portion critics reason that precedence should alternatively beryllium fixed to attracting skilled talent. The “Golden Card” is portion of a broader effort to regenerate the existing EB-5 migrant capitalist visa with a caller strategy that grants U.S. citizenship to overseas investors successful American businesses.

The Golden Residency Card marks the latest successful a bid of moves by the Trump medication to rise Treasury revenues done caller and often unprecedented measures. Since taking office, Trump has raised billions done caller tariffs, acquired a involvement successful Intel, demanded 15% of Nvidia’s gross from definite spot income to China, and hinted that helium should person a stock of revenues from assemblage patents.

Commerce Secretary Howard Lutnick said the Golden Card is akin to the Green Card model, with holders paying planetary taxation obligations conscionable arsenic U.S. citizens oregon imperishable residents would. The cost: $1 cardinal per paper for individuals and $2 cardinal for companies sponsoring an employee, positive a $15,000 vetting fee.

Another benignant of visa—the “Trump Platinum Card”—is not expected to beryllium launched soon.

$100,000 Fee for Tech Work Visa

Later today, President Donald Trump volition besides denote the instauration of a $100,000 exertion interest for enactment visas wide utilized successful the exertion sector, which helium has agelong targeted.

A elder White House authoritative confirmed the information, archetypal reported by Bloomberg.

The H-1B visa allows overseas workers with specialized skills—scientists, engineers, and machine programmers, among others—to enactment successful the United States. Most of these visas are granted to Indian nationals. They are impermanent enactment permits, initially valid for 3 years, extendable up to six, for foreigners sponsored by employers.

The imposition of a $100,000 interest for H-1B applications could woody a large stroke to the tech industry, which heavy depends connected skilled workers from India and China.

Since his archetypal term, Trump has expressed his volition to bounds enactment visas to prioritize American workers.

Applications for H-1B visas person surged successful caller years, peaking successful approvals successful 2022 nether Democratic president Joe Biden. By contrast, rejection rates peaked successful 2018, during Trump’s archetypal word successful the White House.

In 2024, the United States approved astir 400,000 enactment visas, two-thirds of which were renewals. Three-quarters of palmy H-1B applicants came from India.

This latest announcement adds to the acceptable of anti-immigration measures taken by Trump and his administration, which is besides moving guardant with wide deportations of undocumented migrants.