"Pay $1 million if you want U.S. permanent residency"…Trump launches Gold Card

The Donald Trump administration has begun accepting applications for the 'Trump Gold Card', which grants U.S. permanent residency or long-term stay rights in exchange for a $1 million payment (about 1.47 billion won).

President Trump said on the 10th (local time) on SNS, "The U.S. government's Trump Gold Card was launched today." He explained that the application window opened immediately, saying, "Now great American companies can retain irreplaceable talent."

According to the related official site opened by the U.S. government, there are two types for individuals: the Gold Card ($1 million) and the Platinum Card ($5 million). For companies, there is a Corporate Gold Card ($2 million per person). The application processing fee is $15,000 for all. Currently, the types available for submission are the individual Gold Card and the Corporate Gold Card. The individual Platinum Card is only accepting a waiting list.

The Gold Card is a kind of 'immigration for the wealthy' program where applicants who pass a background check and pay $1 million can receive U.S. permanent residency within a few weeks. Upon approval, they are granted EB-1 or EB-2 visa status.

The Platinum Card is not a system that grants permanent residency. However, it allows holders to stay in the United States for up to 270 days without paying taxes on income earned outside the United States. It effectively provides benefits close to a long-term stay permit.

The Corporate Gold Card allows a company to designate a specific employee as a candidate for permanent residency. An annual 1% 'maintenance fee' is charged.

Reporter Hye-in Lee hey@hankyung.com