A proposed immigration program under a potential second Trump administration, offering a $1 million fee for a 'Gold Card' granting permanent residency, is advancing toward implementation. Legal experts caution that the plan faces significant administrative and legal challenges despite its high-profile announcement.
- Proposed $1 million 'Gold Card' for permanent residency under a potential Trump administration
- Target applicants: individuals with $5M in liquid assets or $10M annual revenue
- Expected to generate $2B in annual revenue and create 45,000 jobs in five years
- Administration plans to establish an Office of Strategic Immigrant Investment
- Legal challenges expected over constitutional and statutory compliance
- Sectors likely to benefit: technology, construction, real estate, private equity
The Trump campaign's latest immigration proposal, the $1 million 'Gold Card' initiative, is on the verge of formal rollout, according to campaign officials familiar with internal planning. The program would allow high-net-worth individuals to secure permanent residency in the U.S. through a one-time payment of $1 million, with eligibility restricted to applicants with at least $5 million in liquid assets or a verifiable record of generating $10 million in annual business revenue. The initiative targets foreign investors, entrepreneurs, and technology sector executives seeking to establish or expand U.S.-based ventures. While the campaign has not released a formal legislative framework, internal documents indicate the program would be administered by a newly designated Office of Strategic Immigrant Investment within the Department of Homeland Security. The initiative is expected to prioritize applicants in the technology, construction, and renewable energy sectors, aiming to stimulate capital inflows and job creation. Proponents argue that the program could generate up to $2 billion in annual revenue and create an estimated 45,000 direct and indirect jobs over five years. However, legal experts warn the plan faces substantial obstacles. A senior immigration attorney with over two decades of experience noted, 'This program is not going to be as easy as the administration initially claimed.' Challenges include constitutional scrutiny over the commodification of citizenship, potential violations of the Immigration and Nationality Act, and resistance from members of Congress across the political spectrum, particularly on the Democratic side. The financial markets may respond cautiously. Sectors expected to benefit include real estate developers, private equity firms, and tech infrastructure companies, which could see increased foreign investment. Conversely, labor unions and domestic workforce advocates warn the program could displace American workers in construction and skilled trades, especially if the cap on annual admissions exceeds 20,000 applicants. The outcome remains uncertain, contingent on legislative approval and judicial review.