President Donald Trump has introduced a new “Gold Card” visa program that allows wealthy individuals to bypass immigration rules and obtain citizenship. Applicants must pay $1 million and a $15,000 processing fee for full-time residency in the U.S.

The “Gold Card” visa program uses existing EB-1 and EB-2 programs, targeting highly skilled professionals. The $1 million payment is seen as proof of exceptional abilities and potential economic contribution.

Immigration attorneys argue that the program distorts the intent of EB-1 and EB-2 by prioritizing wealth over skills or achievements. Concerns arise about potential legal challenges, waiting lists, and the structure of the non-refundable $1 million fee.

Applicants are hesitant due to uncertainty around legal risks, proof of funds, and the possibility of future administration changes overturning visas. Questions remain about the payment process and guarantees of green cards for successful applicants.

Read more at CNBC: Trump ‘Gold Card’ visa defines wealth as an ‘extraordinary ability’