E-Paper
Platinum Card: What's inside Trump's '$5 million' shortcut to US residency
The Trump administration has planned to introduce a 'Platinum Card' for $5 million, which would allow a foreign workers to stay in US for nine months a year.
Amid Trump administration's increasing curbs on immigration and job visas, the US government's 'Gold Card' is being branded as an alternative for foreign workers willing to spare $1 million for "US residency in record time".
The recently introduced 'Gold Card' has emerged as a new immigration pathway for white-collar professionals, a newer and little-known residency card is also in the pipeline, offering even better features.
Further, the Trump administration has planned to introduce a 'Platinum Card' for $5 million, which would allow a foreign workers to stay in US for nine months a year with tax exemptions.
The premium residency programmes, first announced in September, comes months after Trump hiked the H-1B visa fee from up to $5,000 to $100,000 in October. The two visa programmes are part of Trump's plan to encourage the wealthy to emigrate to the US for a hefty price tag, along with curbing the local jobs being offered to foreign workers.
What does Trump's Gold Card offer?
The 'Gold Card' is for foreign applicants applying for citizenship, while the corporate Gold Card is for those seeking to enter the program as an employee with a corporate sponsor.
According to the Trump Card website, an applicant can apply for a 'Gold Card' for a $15,000 DHS processing fee, which would be followed by a background approval and an interview.
“For a $15,000 DHS processing fee and, after background approval, a contribution of $1 million, receive U.S. residency in record time with the Trump Gold Card,” the official website states.
What does 'Platinum Card' offer?
Trump's 'Platinum Card' allows individual applicants to reside in the US for up to 270 days a year without being subject to tax on non-US income.
With the 'Platinum Card', which comes at a cost of $5 million, there is no requirement of travel visas.
“When launched, and upon receipt of a $15,000 DHS processing fee and $5 million contribution, they 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,” the website reads.
Though, the residency card is yet to come into effect, the website offers a provision for applicants to join a waitlist so that their application can be processed immediately.
"The Trump Platinum Card has not yet been released. Applicants should join the waitlist now to ensure that they can be processed immediately after the Trump Platinum Card Program goes live!" the website reads.
The website adds a warning, stating, "There is no assurance that the Platinum Card contribution will remain at $5 million, so you should join the waitlist now."
