President Donald Trump’s administration has announced proposals for a Platinum Card that will allow foreigners to spend up to 270 days in the U.S. without paying taxes on a non-U.S. income.
The announcement was made in tandem with plans for a Gold Card visa that offers a potential pathway to U.S. citizenship for a processing fee and $1 million contribution. The card will cost companies $2 million to sponsor an employee.
Newsweek has approached the Department of Commerce, White House and State Department for comment.
Why It Matters
The Platinum and Gold Cards have been introduced as the Trump administration cracks down on other forms of immigration, both legal and illegal. The administration has intensified immigration enforcement, such as expanding ICE operations, while also introducing changes, such as a new citizenship test.
The announcements were made at the same time the president signed a proclamation that will require a $100,000 one-time fee for new applicants for an H1-B visa. The hike represented a huge increase on the previous sum for the plan, which is designed to allow U.S. companies to hire skilled foreign workers to plug domestic shortages.
What To Know
The $5 million Platinum Card visa would allow recipients to stay in the United States for up to 270 days annually without paying taxes on non-U.S. income.
Unlike the Gold Card, the proposal does not include a pathway to citizenship and would require congressional approval. A federal website has already opened a waiting list.
A message on trumpcard.gov tells visitors: “Sign up now and secure your place on the waiting list for the Trump Platinum Card. For a processing fee and, after DHS vetting, a $5 million contribution, you will have the ability to spend up to 270 days in the United States without being subject to U.S. taxes on non-U.S. income.”
The Gold Card program was first floated by Trump in February. It would allow foreign nationals who contribute at least $1million to the U.S. Treasury to become eligible for an expedited path to an immigrant visa.
Applicants approved after vetting by the State Department and Department of Homeland Security will be granted lawful permanent resident status, commonly known as a green card, upon paying a $15,000 processing fee. Holders will be treated similarly to other permanent residents and citizens when it comes to tax, according to the website.
In a call with reporters, Commerce Secretary Howard Lutnick said the Gold Card will replace the existing EB-1 and EB-2 visa categories, which provide green cards for individuals with “exceptional ability” in business and other fields. He said the administration expects to issue about 80,000 Gold Cards, though the program remains in the “implementation phase.”
What People Are Saying
President Donald Trump, on Truth Social: “For far too long, we have had millions of Illegal Aliens pouring into our Country, and our Immigration System was broken. It is beyond time that the American People, and American Taxpayers, are benefiting from our LEGAL Immigration System. We anticipate THE TRUMP GOLD CARD will generate well over $100 Billion Dollars very quickly. This money will be used for reducing Taxes, Pro Growth Projects, and paying down our Debt.”
Commerce Secretary Howard Lutnick, on X: “This [Gold Card] program does not expand immigration. It will replace broken visa categories like the diversity lottery which brings down America instead of attracting the high earning individuals these programs were originally designed to attract. Instead, it brings in individuals and companies who will strengthen our economy, create jobs, and invest in America—while cutting the deficit. The Trump Gold Card restores our immigration system to its true purpose: serving the American people first.”
What Happens Next
The website trumpcard.gov tells Platinum Card applicants to join a waiting list. It says visas will be processed on a “first-come-first-served basis.”
Lutnick said during a press conference that the H-1B fees and Gold Card could be introduced by the president but that the Platinum Card needs congressional approval.
This article includes reporting by The Associated Press.
