What Are Trump Gold Card, Platinum Card And Corporate Gold Card And How Much Do They Cost?

(MENAFN- Live Mint) Trump Visa Rule: US President Donald Trump on Friday drastically increased the annual fee for the H-1B visa for immigrant tech workers to $100,000, a move that will have significant impact on Indians who work in the US for big tech companies.

Trump, signing the proclamation at the White House on the day, said that the“incentive is to hire American workers.”

His administration later clarified that the move will ensure that American workers are protected, while also enabling companies to have the road to employ“truly extraordinary people”.

The United States awards 85,000 H-1B visas per year on a lottery system, with India accounting for around three-quarters of the recipients.

Donald Trump also signed an executive order entitled 'The Gold Card' that will set up up a new visa pathway for foreigners of extraordinary ability who are committed to supporting the United States.

Also Read | Trump's H-1B visa fee hike: the death of onsite

“We're taking in hundreds of billions of dollars. The Gold Card will be taking in hundreds of billions of dollars, and companies will be able to keep some people they need. They need people of expertise, great expertise,” Trump said while signing the executive order.

The US President emphasised that the Trump gold card will be a“fantastic thing” and“we're going to take that money and we're going to reduce taxes, we're going to reduce debt”.

The Gold Card prioritises entry for high-value contributors to American society, including successful entrepreneurs, investors, and businessmen, as per a White House statement.

What is the Trump Gold Card?

This card is meant for individuals who seek entry into the US. To apply, an applicant must pay a nonrefundable processing fee. Once an applicant's processing fee is received, the process for visa adjudication will take place.

If approved, the applicant is required to make a payment of $1 million. With the Gold Card, one will be able to move across all 50 US states and territories.

Also Read | Microsoft, Meta, Amazon urge H1-B visa holders to return to US in 24 hours Trump Platinum Card

The Trump Platinum card is also meant for individuals, but has better benefits. The registration for this card has not begun yet. When it starts, an applicant needs to sign up and secure their place in the waiting list. It will be processed on a first-come-first-served basis. You will need to pay a sum of $5 million if you get approved for the Trump Platinum card.

The Trump Platinum Card will allow individual applicants to reside in the United States for up to 270 days per year without being subject to tax on US income.

Also Read | H-1B visa fee hike will choke US innovation, turbocharge ours: Amitabh Kant Trump Corporate Gold Card

The Trump Corporate Gold card is meant for corporates hiring foreign employees, with a fee of $2 million.

To apply, the corporate sponsor must pay a non-refundable processing fee per employee.

The Trump Corporate Gold Card is subject to a small annual maintenance fee and a transfer fee.

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