Want US residency? Trump's $5M gold card open for applicants
What's the story
United States President Donald Trump has launched a waitlist website for his visa program called the "Trump Card."
The gold card offers a pathway to permanent residency to foreigners who invest $5 million in the US.
The program was first announced in February and is now accepting applications on its official website, trumpcard.gov.
Interested applicants can sign up by providing their name, region of origin, and whether they're applying as an individual or business.
Program details
More sophisticated version of green card
The Trump Card promises green card privileges and a route to full citizenship, although it doesn't guarantee immediate naturalization.
Trump has likened it to a more sophisticated version of the green card.
One of the key selling points is its potential tax benefits. Gold cardholders would only be taxed on their US earnings, unlike traditional green card holders who are taxed on worldwide income.
Target audience
Program could attract high-net-worth individuals, businesses
The program is aimed at attracting high-net-worth individuals and businesses who have been deterred by US global tax obligations.
It could also be a way for wealthy foreigners to gain access to the US market without creating jobs or launching businesses in the country.
Commerce Secretary Howard Lutnick claimed that 1,000 cards were sold in a single day, despite the program not officially launching yet.
Eligibility criteria
Who is the Trump Card for?
The Trump Card is not intended for American citizens, but rather for wealthy foreigners who can afford the $5 million investment.
The program does not require approval from Congress since it doesn't provide citizenship outright.
Under existing US naturalization rules, immigrants must usually be lawful permanent residents for at least five years and meet age and language requirements with a clean record.