Trump's '$5 million' Platinum Card: A Shortcut to US Residency for the Wealthy
The Trump administration has planned to introduce a 'Platinum Card' for $5 million, which would allow a foreign workers to stay in US for nine months a year.
The US government has introduced 'Gold Card' and 'Platinum Card' programs, offering a pathway to residency for foreign workers willing to pay a hefty price tag. The premium residency programs aim to attract wealthy individuals, while also curbing local jobs offered to foreign workers.
The 'Gold Card' allows foreign workers to apply for US residency in record time, but at a cost of $1 million. The corporate 'Gold Card' is available for employees with a corporate sponsor, along with a $15,000 DHS processing fee.
The 'Platinum Card', set to cost $5 million, offers even more benefits. It allows individuals to reside in the US for up to 270 days a year without paying taxes on non-US income. However, there's a catch - the card is yet to be released, and applicants can only join a waitlist to ensure immediate processing.
The Trump administration's move to introduce these programs comes amid increasing curbs on immigration and job visas. The introduction of the 'Platinum Card' follows a hike in H-1B visa fees from $5,000 to $100,000 in October.
The US government's 'Platinum Card' program has sparked debate, with some critics arguing that it favors the wealthy over other applicants. However, the program's website emphasizes that there's no assurance the contribution will remain at $5 million, urging applicants to join the waitlist now.
