Washington, Dec 10 (V7N) — U.S. President Donald Trump has introduced a new immigration program called the ‘Trump Gold Card’ visa, describing it as “more powerful than the Green Card.” The scheme allows foreigners to obtain permanent residency in the United States in exchange for a $1 million investment, equivalent to over Tk 12 crore in Bangladeshi currency.

The online application portal for the Trump Gold Card visa went live on Wednesday (December 10). Trump formally announced the program while speaking with business leaders in the Roosevelt Room of the White House.

According to Trump, the new visa will provide permanent residency to any eligible individual who deposits $1 million with the U.S. Treasury. For corporate applicants — specifically U.S. companies seeking to retain foreign employees — the fee will be $2 million.

“It’s very similar to a Green Card, but with more privileges,” Trump said. “Companies will now be able to keep talented workers permanently. At other times, the workers you hire may not stay in the country. This card guarantees they will stay.”

U.S. Commerce Secretary Howard Lutnick explained the process, noting that applicants must first pay a non-refundable $15,000 processing fee, which goes to the Department of Homeland Security. After background and document verification, the applicant must deposit the required $1 million. In special cases, additional fees may apply.

This announcement comes amid Trump’s continued tightening of immigration policies during his current term. Just last September, he signed an order increasing the application fee for the H-1B skilled worker visa to $100,000, a move that drew widespread criticism from global tech and business communities.

The introduction of the Trump Gold Card visa marks one of the administration’s most dramatic shifts—restricting traditional immigration channels while opening a pathway for wealthy individuals and corporations.

END/SMA/AJ