Trump administration announces ‘Gold Card’ Permanent Residence Program and registration requirement

President Donald Trump announced on Feb. 25 that he is creating a new program to offer residency and a path to citizenship to foreign investors who pay $5 million directly to the U.S. government. While the full scope of this gold card program was not announced, we anticipate there will be a vetting process to check the backgrounds of applicants. This new program will help applicants seeking permanent residence based on a substantial financial investment to avoid the years-long process for the existing EB-5 program, which enables foreign investors to obtain green cards by investing certain amounts toward a business in the United States. In an extraordinary move, Trump has floated the idea that gold card holders would be exempt from paying U.S. tax on their overseas income — an advantage not currently available to U.S. citizens or green card holders in the country. We will be holding a seminar in the near future as more details of the program are released.

On Jan. 20, Trump also issued the Protecting the American People Against Invasion executive order, which directs the Department of Homeland Security (DHS) to ensure that foreign nationals comply with their duty to register with the government. An I-94 arrival-departure form (even if expired), green card, employment authorization document, immigrant or nonimmigrant visa, or border crossing card satisfies the registration requirement.

Anyone 14 years of age or older who is not registered and who remains in the United States for at least 30 days must register within those 30 days. Children under 14 years of age who are not registered and who remain in the country for at least 30 days must be registered by their parents or legal guardians within those 30 days. Finally, anyone, whether or not previously registered, who turns 14 years old in the United States must now register (or reregister) within 30 days after their 14th birthday. The steps to register have not yet been announced, but DHS advises that anyone required to register create a U.S. Citizenship and Immigration Services (USCIS) online account, through which registration applications will be submitted.