The website for President Donald Trump's "Gold Card" immigration program has gone live, offering non-Americans the option to pay for a fast-track pathway to U.S. citizenship.
"Very excitingly for me and for the country, we've just launched the Trump Gold Card," the president announced Wednesday. "... It's somewhat like a Green Card, but with big advantages over a Green Card."
Foreign nationals can now pay $1 million plus a $15,000 processing fee for the Trump Gold Card, which grants them U.S. residency "in record time," the website states. Corporations, meanwhile, can also partake in the program by making a $2 million contribution and paying the $15,000 processing fee.
"All funds go to the United States government," President Trump said. "It could be a tremendous amount of money."
The Trump Corporate Gold Card will give foreign firms the ability to grant U.S. citizenship to employees and can be transferred from one employee to another for a 5% transfer fee, which covers the cost of a background check. The corporate option also requires a 1% annual maintenance fee.
WATCH | First look: Trump shows off 'gold card' that could provide pathway to citizenship
The program is similar to the existing EB-5 visa program, which the U.S. began in 1990 to encourage job creation by foreign investors.
"It will take in, we think, probably billions of dollars that will go to the Treasury of the United States, that will go to an account where we can do things positive for the country," President Trump said of the program. "So it'll be a great thing. We'll take in, I think, you know, billions of dollars. Many billions of dollars, even."
Commerce Secretary Howard Lutnick has said the Trump Gold Card system would replace the EB-5 visa program, emphasizing that all applicants would receive thorough vetting and revenue raised would be used to pay down the national debt. Lutnick said in March that as many as 1,000 of the cards had already been purchased so far.
