US Gold Card Visa: The US government will launch a special scheme that will prove crucial for citizens of other countries as well. The Donald Trump administration’s Gold Card Visa Scheme is expected to be launched soon. This scheme will grant permanent residence in the United States to wealthy individuals willing to contribute large sums of money to the country.
Ahead of the launch of the application process, the US Citizenship and Immigration Services has now submitted a draft of Form I-140G to the Office of Management and Budget. Upon approval, the government is working toward launching the scheme by December 18th. The Gold Card Visa Scheme is expected to be a significant success.
Learn about the Gold Card Visa Scheme
The Trump administration’s Gold Card Visa Scheme will prove to be very important. This is a special visa that could provide substantial benefits to the United States. It will also replace the existing EB-5 investor visa, which has been criticised for its slow pace and potential for fraud.
Under the new program, applicants will also be required to pay a non-refundable application fee. Upon approval, they will also be required to donate $1 million (approximately ₹8.3 crore).
For corporate-sponsored applicants, this amount will be $2 million, or approximately ₹16 crore. A non-refundable processing fee of $15,000 will also be charged. Upon approval, the individual will become a legal permanent resident under the EB-1 or EB-2 categories.
Learn about the Platinum Card option.
A Platinum Card option is also available alongside the Trump administration’s new Gold Card scheme. A $5 million contribution is required. This allows individuals to stay in the United States for up to 270 days per year without paying US tax on foreign income. Further details about this tier are currently unclear.
Learn how to apply.
The application process for the Trump administration’s Gold Card is expected to be quite stringent. This will also place significant emphasis on the legal source of the funds, meaning where the donated funds came from. Is it legal or illegal?