Trump introduces billionaire visas, offers US residency for investments

US President Donald Trump has launched a new visa programme offering long-term US residency to wealthy individuals worldwide in exchange for substantial investments, Bloomberg reports.

The programme includes two tiers: the Trump Gold Card and the Platinum Card,’with prices ranging from 32 million to 160 million baht. This initiative is part of Trump's broader plan to reform the US immigration system and attract foreign investment.

Under the new initiative, individuals who can invest US$1 million (approximately 32 million baht) will be granted residency in the United States, along with the ‘Trump Gold Card.’ This card provides access to a thorough screening process, followed by residency for the investor.

Additionally, the ‘Trump Platinum Card,’ priced at US$5 million (approximately 160 million baht), will offer holders the right to live in the United States for up to 270 days a year, without being taxed on income earned outside of the US.

The programme also allows companies to sponsor an unlimited number of employees for permanent US residency by paying a fee of US$2 million (approximately 64 million baht) per employee.

Trump explained that the programme would raise billions of dollars, which would be used to reduce national debt, fund job creation, and support other public initiatives.

 The ‘Trump Gold Card’ will replace the EB-1 and EB-2 visa categories, which are currently available to foreign nationals with extraordinary abilities, allowing them to apply for permanent residency in the United States. 

The new system is expected to be implemented within a month, with other green card categories potentially being suspended. The Gold Card will become the main pathway to US residency.

While the Gold Card is already in motion, the Platinum Card will require approval from Congress. Howard Lutnick, Secretary of Commerce, said he expects this approval to come within the year. 

Once approved, the fees and income raised from the programme will be deposited into a "separate fund" managed by the Treasury Department, aimed at promoting US commerce and industry.

The verification fee for the Gold Card is expected to be around US$15,000, and applicants will undergo a stricter screening process than before.

This billionaire visa initiative is a key part of Trump's broader effort to overhaul the US immigration system, which includes accelerating the deportation of illegal immigrants and expanding legal immigration channels for the wealthy.