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Executive order for the Gold Card also includes an annual fee of $100,000 for H1B visas in the tech sector

President Donald Trump has signed an executive order to introduce the “Trump Gold Card”, a card that allows foreign nationals to settle in the United States by paying one million dollars. The card features an image of Trump with the Statue of Liberty in the background.

The new “Gold Card”, the future “Platinum Card”

In the future, there are also plans for a Platinum Card, not yet active, which would allow holders to spend up to 270 days a year in the US for five years, without paying US taxes on income earned abroad, for a fee of five million dollars.

Impact on H1B visas

The changes also affect H1B visas, used by American companies to hire skilled foreign workers, especially from the tech sector and India. The executive order introduces an annual fee of $100,000 for each visa, with the aim of discouraging companies from hiring foreign staff who require training. Commerce Secretary Howard Lutnick commented that businesses should be “very happy” with the new rules, which combine attracting capital and regulating the foreign labour market.

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