Trump touts new ‘gold’ and ‘platinum’ visas | Political News
President Donald Trump signed an government order on Friday which launched a model new visa program that encourages rich immigrants to pay a hefty quantity for American residency permits.
The “Trump Gold Card” program will see people paying $1 million to obtain U.S. residency after a processing price and vetting, a web site announced. For corporations, it’ll value $2 million.
The “Trump Platinum Card,” will also be obtainable for a $5 million contribution and will permit foreigners to spend up to 270 days in the U.S. without being subject to U.S. taxes on non-U.S. income.
It comes as Trump is reportedly transferring to overhaul the H1-B visa program.
The administration might now require a $100,000 price for purposes to deter technology corporations and other companies to make use of international engineers and expert employees for jobs.
If companies contribute $2 million, they’ll obtain U.S. residency for their workers. The quantity of workers stay unspecified.
Trump nodded along as his employees announced the chief order “opening new pathways for truly extraordinary people to come contribute to America instead of taking away from it.”
According to the wensite, the Department of Homeland Security will vet the people as the Trump Corporate Gold Crd will permit companies to ” transfer access from one employee and grant it to another, with the cost of a transfer fee.”
“A small annual maintenance fee will also apply,” the web site added.
Trump who first floated the idea in February was joined by Commerce Secretary Howard Lutnick.
In February, Trump said that it will help create more jobs by attracting additional capital investment.
He also said that this would help generate income to scale back the deficit in the nation.
While the president has acknowledged that as many as a million people might partake in this new enterprise, immigration specialists stay skeptical.
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