Trump announces new U.S. luxury visa programs: Gold Card and Platinum Card

New Visa Programs Overview - The US is introducing two new luxury visa programs: a gold card and a platinum card [1] - The gold card costs $1 million for individuals and $2 million for companies, granting US residency in "record time" [1] - The $2 million corporate gold card is transferable between employees [2] - The platinum card costs $5 million, allowing foreign nationals to spend 270 days in the US without paying taxes on overseas income [2] Financial Implications - The new programs, along with a $100,000 H1B fee, are expected to generate $100 billion in revenue [4] - The revenue will be used to lower taxes and pay down debt [4] Program Details and Comparisons - The gold card will replace the EB1 and EB2 programs [4] - The gold card, costing $1 million without a job creation requirement, may be more attractive than the EB5 program, which also costs $1 million but requires creating at least 10 jobs [4][5] - Compared to other countries, the $1 million gold card is considered cheap in the investment visa landscape, with Singapore at $7 million and Samoa at $1.4 million [5] Screening and Regulations - Details about the screening process for applicants are currently unknown [7] - There is no investment or job requirement for the gold card [7]