President Donald Trump has proposed a new immigration initiative that would allow wealthy individuals to purchase visas typically designated for high-skilled foreign workers. This “gold card” proposal has prompted legal scrutiny and concerns regarding its implications for the merit-based immigration system that currently prioritizes skills and professional achievements.
In September, Trump issued an executive order mandating federal agencies to develop regulations for a pathway to permanent residency in the U.S. in exchange for a $1 million investment from individuals or $2 million from employers seeking to sponsor immigrant workers. Rather than replacing existing investor visa programs, the plan proposes utilizing EB-1 and EB-2 visa categories designed for individuals who demonstrate extraordinary abilities or hold advanced degrees.
Legal experts have raised alarms that this approach undermines the intent of these visa categories, which were created to recognize merit. Ian Wagreich, a partner at Hinshaw & Culbertson LLP, emphasized that the program may prioritize those with financial resources over qualified candidates, potentially displacing skilled professionals from various fields.
The specifics of the new visa program are set to be outlined in upcoming regulations from the Departments of State, Commerce, and Homeland Security, which are expected to be finalized by December 19. One notable aspect mentioned was a $5 million “platinum card” that would allow visa holders to reside in the U.S. for a lengthy period without being taxed on non-U.S. income, although this was not explicitly detailed in the executive order.
Critics argue that redefining criteria for high-skilled immigration could lead to complex legal challenges. Becky Fu von Trapp, managing attorney at von Trapp Law PLLC, pointed out that current law differentiates based on merit, and the introduction of a wealth-based qualification may not align with legislative intentions.
Furthermore, important practical questions remain regarding the implications of the proposed investments. For instance, it is unclear whether a single donation would grant visas to individuals alone or extend to their families, and how the sources of these funds would be verified.
Commerce Secretary Howard Lutnick indicated that the gold card initiative aims to replace the EB-5 investor visa program, which has seen a resurgence following the reauthorization of regional centers that facilitate group investments. However, there are concerns that this new program may not appeal to current EB-5 investors, particularly those from India and China, who often face lengthy waits for green cards under the existing categories.
Ultimately, the gold card program might not only alter the landscape of high-skilled immigration but also create challenges for immigrant workers who rely on pathways available through EB-1 and EB-2 visas. Observers suggest that it could lead to an overcrowding effect in these categories, making it more difficult for deserving candidates to navigate the already complicated immigration process. Despite the inherent challenges, there’s an ongoing discourse about finding a balance that honors both individuals with extraordinary skills and those with financial means seeking a new life in the U.S.