The price of the Trump card has been significantly reduced. From $5 million, the cost of the Trump gold card has been cut to $1 million, a price drop of 80%!
Trump gold card holders will be treated similarly to other permanent residents and citizens. The actual implementation of the Trump gold card will begin within 90 days from September 19.
In February, when the Trump gold card was announced for the first time, the price tag was kept at $5 million. However, when President Trump announced the official launch of the Gold Trump Card on September 19, through an Executive Order, the price tag was set at $1 million.
The Trump gold card fee of $1 million is to be paid to the US Treasury as a gift. The gift amount will be $1 million for an individual donating on his or her own behalf and $2 million for a corporation or similar entity donating on behalf of an individual.
A new Trump Platinum Card has also been announced, which comes with $5 million price tag.
U.S. Commerce Secretary Howard Lutnick stated that the government is considering making the $1 million Trump Gold Card the only option to a US green card—but immigration experts warn that it does not pass the legal smell test, reports Forbes.
By reducing the tag price for the Trump gold card, there could be a larger interest shown by wealthy foreign individuals and entities.
According to Henley & Partners, as of December 2023, there are 29,350 Centi-millionaires in the world. ‘Centi-millionaires’ refers to individuals with liquid investable wealth of USD 100 million or more.
The details of the Gold Card, eligibility, requirements, and features are yet to be made public, and no bill has been introduced in Congress.
Trump Gold Card
The Trump Gold Card is a visa based on an individual’s ability to provide a substantial benefit to the United States.
To apply, an applicant must pay a nonrefundable processing fee. Once an applicant’s processing fee is received, the process for visa adjudication will take place, assuming applicants submit additional documents promptly.
If approved, an individual must make a gift of $1 million, which has been determined to provide sufficient evidence that the individual will substantially benefit the United States.
Applicants must be eligible for lawful permanent resident status, admissible to the United States. The Trump Gold Card is a visa; therefore, national security and other risks could be a basis for revocation.
As appropriately determined by the Department of Homeland Security and subject to availability, an applicant of the Trump Gold Card receives lawful permanent resident status as an EB-1 or EB-2 visa holder.
Trump Platinum Card
The Trump Platinum Card will allow individual applicants to reside in the United States for up to 270 days per year without being subject to tax on non-U.S. income. No more travel visas will be required.
Trump Platinum Card is not available as of now, but one can sign up now to secure their place on the waiting list. For a processing fee and, after DHS vetting, a $5 million contribution, you will have the ability to spend up to 270 days in the United States without being subject to U.S. taxes on non-U.S. income.