The Trump administration is moving forward with the Gold Card implementation. The U.S. Citizenship and Immigration Services (USCIS) has submitted a draft of a new form, titled Form I-140G, to the Office of Management and Budget (OMB), the latest development in the creation of the new visa program.
The draft of the Gold Card application form must undergo a mandatory federal review before it becomes an official document.
According to Fragomen, obtaining OMB approval is crucial for implementing the program by the Dec. 18 deadline set by President Trump through an executive order.
The Gold Card program has yet to take effect; USCIS and the Department of Commerce are expected to release more information as the launch deadline approaches.
How will the Gold Card form work?
The new form is a variation of Form I-140, which is currently used to file immigrant petitions for foreign nationals seeking to become permanent U.S. residents based on employment.
The draft outlines the Gold Card processing procedures, including that applicants must submit their applications through the Department of Commerce, pay a non-refundable application fee of $15,000 via pay.gov, and file Form I-140G with USCIS to determine their eligibility under the EB-1 or EB-2 visa programs.
Additionally, investors must verify the lawful source of funds they intend to invest for the new visa.
After the form is approved, Gold Card applicants will need to go through consular processing to obtain an immigrant visa for permanent residency, according to WR Immigration.
The Trump Gold Card will require foreign investors to make a $1 million contribution and pay a processing fee, after Department of Homeland Security vetting, to receive U.S. residency. Businesses can pay $2 million, along with a processing fee, to obtain a visa for their preferred candidate.
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