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Quick Hits
- Individuals can make a $1 million contribution for the Trump Gold Card to receive permanent residency on an expedited basis.
- Corporate sponsors can pay a $2 million contribution per employee to receive permanent residency for multiple employees, with the ability to transfer access between employees for additional fees and vetting.
- The administration has stated that Trump Gold Card eligibility will satisfy evidence for the EB-1A and EB-2 immigrant visa programs for those with extraordinary or exceptional abilities, or those who qualify for a national interest waiver.
The Gold Card
The proposed Trump Gold Card is a new pathway to permanent residency based on an individual’s ability to provide a substantial financial benefit to the United States. Applicants must make an unrestricted financial gift of $1 million to the U.S. Department of Commerce, pay a nonrefundable administrative processing fee, and undergo a security vetting process.
The proposed Trump Corporate Gold Card can also be paid for by employers on behalf of one or more employees. Employers must make an unrestricted financial gift of $2 million per employee to the U.S. Department of Commerce and pay a nonrefundable administrative processing fee. In addition, the employee beneficiary will undergo a security vetting process. The Corporate Gold Card will allow an employer to transfer this gift to another employee if it ceases to sponsor the original beneficiary. Employers applying for a Trump Corporate Gold Card will be subject to annual maintenance and transfer fees.
Applicants must be eligible for lawful permanent resident status, admissible to the United States, and have a visa number available to them. Approved applicants receive lawful permanent resident status as EB-1 or EB-2 immigrant visa holders, as determined by the U.S. Department of Homeland Security, depending on whether the gift is considered evidence of either extraordinary ability (EB-1), exceptional ability, or as a national interest waiver (EB-2).
Next Steps
At this time, it is unclear whether the EB-1 and EB-2 immigrant visa programs for people of “exceptional value” may be replaced, with the potential to eliminate or replace other immigrant visa programs in the future. The secretary of commerce, the secretary of state, and the secretary of homeland security will have ninety days to establish application details and the adjudication process for these programs, as well as to confirm the date on which applicants may start applying.
Ogletree Deakins’ Immigration Practice Group will continue to monitor developments and will publish updates on the Immigration blog as additional information becomes available.
This article and more information on how the Trump administration’s actions impact employers can be found on Ogletree Deakins’ Administration Resource Hub.
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