Trump Unveils New Visa Programs for Wealthy Individuals

President Trump has signed an executive order introducing a 'Gold Card' visa program, allowing non-Americans who invest at least $1 million in the US to gain expedited access to immigrant visas. The program, which is expected to make 80,000 visas available, will replace existing EB-1 and EB-2 visa programs. Additionally, the administration is considering a 'Platinum Card' program that would allow individuals to spend up to 270 days in the US without paying taxes on non-US income. The new rules also include an extra $100,000 fee for H-1B visa applicants, a move that could significantly impact the tech industry.

US President Donald Trump is set to introduce a new $100,000 application fee for skilled foreign worker visas, specifically H-1B visas, as part of a broader immigration crackdown. The H-1B visa program allows tech companies to hire highly skilled foreign workers for jobs that are difficult to fill with qualified Americans. Critics argue that the program has been misused, with companies using it to hire cheaper foreign labor and overlook American workers. India was the largest beneficiary of H-1B visas last year, accounting for 71% of approved applications. The new fee is expected to impact tech companies that rely heavily on foreign workers.

US President Donald Trump has announced a new visa program for wealthy individuals, offering residency permits for a hefty price tag. The 'Trump Gold Card' costs $1 million and grants US residency, while the 'Platinum Card' costs $5 million and allows recipients to spend up to 270 days in the US without being subject to US taxes on non-US income. Businesses can also receive US residency for employees for a $2 million fee per employee. Immigration experts say Congress likely needs to approve the program. Trump aims to overhaul the country's immigration system and attract high-earning individuals.