The Donald Trump administration has begun accepting applications for a U.S. permanent residency program called the "Gold Card," aimed at attracting high net worth individuals. Unlike the existing investor immigration program, which required meeting certain conditions, this allows applicants to obtain U.S. permanent residency simply by paying a set amount, a move that is expected to draw controversy.
On the 10th (local time), President Trump formalized the rollout of the Gold Card program on social media (SNS) Truth Social, saying it would "open a path to U.S. citizenship for all who are qualified and vetted." Earlier, on Sept. 19, President Trump also signed an executive order on the "Gold Card."
According to the official Gold Card website, by donating $1 million (about 1.5 billion won) to the U.S. government and paying a $15,000 (about 22 million won) fee to the Department of Homeland Security, applicants can obtain an EB-1 or EB-2 visa that makes them eligible to apply for a green card.
Since February, shortly after taking office, President Trump has been exploring a plan to sell U.S. permanent residency, known as the "Green Card," for a high price. The existing investor immigration program granted permanent residency only if applicants invested more than $1 million and created more than 10 jobs, but the new program effectively lowers those thresholds significantly.
The Trump administration has been running Gold Card pre-registration since June, and about 10,000 people are said to have applied during this period. According to Reuters, U.S. Commerce Secretary Howard Lutnick said, "Over time, we expect to sell thousands of these cards and generate revenue in the billions of dollars."
Meanwhile, a "Platinum Card" program, one step above the Gold Card, is also set to launch soon. The Platinum Card is a special program for high earners overseas; applicants can apply by donating $5 million (about 7.33 billion won) to the U.S. government and paying a $15,000 fee to the Department of Homeland Security.
The website advises, "Because there is no guarantee the Platinum Card donation will remain $5 million going forward, it is best to join the waitlist right now." This is widely interpreted as a blatant signal of the U.S. government's intent to sell permanent residency.
Platinum Card holders can receive tax exemptions on income earned outside the United States during 270 days of stay in the U.S. Previously, those who stayed in the U.S. for 183 days or more were classified as "residents," incurring tax obligations not only on U.S. income but also on overseas income. This is the first time a system has been introduced that allows foreign investors to stay longer than 183 days and still receive tax exemptions on foreign income.
In addition, starting today, the Trump administration will implement a "Corporate Gold Card" program that grants a transferable permanent residency visa—akin to a bearer membership—that corporations can move to other employees if they pay at least $2 million (about 2.92 billion won) per employee. The Corporate Gold Card carries an annual 1% maintenance fee and a 5% transfer fee.
The Corporate Gold Card is seen as a policy targeting IT corporations, for which securing top talent is essential. At an event with major IT industry executives that day, President Trump emphasized the need for the Corporate Gold Card program, saying, "Many here, including Apple CEO Tim Cook, say the United States cannot retain excellent students. The reason they can't hire top graduates is that they can't be sure those hires will be able to stay with the company."
However, the U.S. investor immigration program is a formal immigrant visa program extended by congressional approval, with legal effect guaranteed through Sept. 2027. For this reason, if the Gold Card were to replace that program, it may require legislation through Congress.
Bloomberg News reported, "Immigration experts note that any changes to visa policy are likely to require congressional approval," adding, "However, Trump administration officials say they plan to operate within the existing framework and therefore do not expect separate legislation to be necessary."