Inside the Gold Card Program—U.S. Residency Pathways for HNWIs

Grace Shie: Welcome to The Inside Track. My name is Grace Shie and I lead Mayer Brown's Global Mobility Practice. I'm joined here by my partner, Morgan Bailey in Washington, D.C. Today we're going to walk through the U.S. administration's new Gold Card program. It was announced by the White House in September and represents a significant shift in immigration policy for high net worth individuals seeking a U.S. visa option.

Morgan Bailey: It prioritizes speed, capital, and access for a narrow set of applicants, primarily high net worth individuals, family offices, and employers managing cross-border mobility. We've already had lot of clients reaching out with questions.

Grace Shie: That’s right, we have. The program has generated a lot of interest. So let's take things step by step. Morgan, why don't you first share what is the Gold Card Program?

Morgan Bailey: The Gold Card was designed for high net worth individuals, family offices, and corporations seeking a fast track to U.S. permanent residency. So a green card. And it's done by making a contribution to the Department of Commerce. The Gold Card was established by executive order in mid-September. And it directs the Departments of Homeland Security, Commerce, and Department of State to implement the program within 90 days.

Grace Shie: And based on the White House announcement, the program appears to be a strategic move that could reshape the landscape for high net worth individuals.

Morgan Bailey: And the Department of Commerce is taking center stage, which is telling, it signals an explicit focus on economic contributions in alignment with national commercial interests.

Grace Shie: Now let's walk through the three pathways. One, the individual Gold Card. Two, the corporate Gold Card. And three, the Platinum Card.

Morgan Bailey: The individual Gold Card requires a $1 million gift from the applicant. In exchange, the contribution is treated as significant evidence for existing employment-based categories, most likely the EB-1 for extraordinary ability or the EB-2 for a national interest waiver.

Grace Shie: And next, we have the corporate Gold Card for company use. A company can contribute $2 million US dollars on behalf of an employee to secure a US green card. And here, the transferability feature is the differentiator. As we understand it, if a sponsored employee leaves the organization, the company can reassign the green card sponsorship to another employee, subject to vetting and a transfer fee.

Morgan Bailey: And the corporate Gold Card should really be considered a strategic corporate asset. It can be a powerful recruitment tool for cross-border hiring while competitors navigate slower, less predictable routes. For example, if an employer is recruiting, let's say, a CEO from abroad, they might consider the Corporate Gold card as an option.

Grace Shie: And finally Morgan, we have the Platinum Card.

Morgan Bailey: That's right, Grace. So the Platinum Card is interesting. It's a $5 million strategic residency pathway. So the headline feature is the ability to remain in the United States for up to 270 days a year without being subject to U.S. taxes except for U.S. earned income.

Grace Shie: Now a critical caveat for all three pathways we've just described is that paying the contribution does not guarantee approval. Applicants will be required to undergo background checks, security screenings, and the executive order explicitly states that the program creates no legal right or entitlement.

Morgan Bailey: Exactly. And in addition to the $1 million, $2 million, or $5 million contribution, there's also a $15,000 vetting fee.

Grace Shie: Now, the main headline so far has been the financial contribution made by the visa applicant. But the Gold Card is also tied to the applicant demonstrating extraordinary or exceptional ability or national interest under existing laws. That's the term of art under US immigration. So in this way, the Gold Card program does not introduce a new visa category. Instead, it's a way to bolster an application that would be filed within existing green card categories.

Morgan Bailey: That's right, and more specifically, the contribution is framed as strong evidence of extraordinary or exceptional ability or is contributing to the national interest and supporting a petition under an existing immigration category. But it's not a standalone eligibility criterion.

Grace Shie: It's possible that the Gold and Platinum Cards will move a visa applicant to the front of the processing line within EB1 or EB2, but per country limits will likely still apply.

Morgan Bailey: Yes, and legally there's still some open questions. So it isn't quite clear yet how the executive order will fit into the existing system with regard to timelines and processing.

Grace Shie: Now, some have compared the Gold Card program to the EB-5 program, which is an existing employment-based green card category, but they are different. On the one hand, the EB-5 program creates or requires job creation and capital being placed at risk. In contrast, the Gold Card contribution is a gift to the U.S. government with no requirement for a direct link to specific U.S. jobs or projects.

Morgan Bailey: And because this is a new approach, there may be some challenges or delays that are possible.

Grace Shie: So with that background on the Gold Card program, Morgan, let's shift gears and share our top recommendations for how clients should prepare now if they're considering participation in the program. Why don't you start?

Morgan Bailey: Well, I think the most important thing is that program isn't operational yet. agencies will be preparing new regulations over the next couple of months.

Grace Shie: And it's right. And it's worth reiterating that the program does not guarantee a green card. Applicants will be screened and vetted by the relevant agencies.

Morgan Bailey: It's important to prepare early so high net worth individuals and family offices should be ready to document the lawful source and path of funds. Additionally, things to gather include immigration records, passports, employment documentation, and evidence of qualifications so that you're well prepared when the rules are published.

Grace Shie: We suggest that you understand current green card categories because we expect the Gold Card to be most relevant to the existing EB1 or EB2 national interest waiver categories. Study them so that you're best positioned to choose the category that best fits your profile once the program is launched.

Morgan Bailey: And for employers, I think it's important to weigh the $2 million corporate Gold Card against other workforce options, in particular, as an option for high-level executives.

Grace Shie: And for family companies, for high net worth individuals, including your family members in the immigration planning can be critical. It's our understanding that the Gold Card program will allow spouses and children to qualify as derivatives, but details are limited so far. Understanding the needs of the family upfront will help you prepare once program details are made available.

Morgan Bailey: And it's important to remember that the contributions are transfers, specifically gifts, not investments. So cross-border tax implications need to be addressed in advance.

Grace Shie: And finally, watch the legal landscape as this evolves and as the program details are unveiled. The implementation of the Gold Card program is expected to take place 90 days from September 19th, which takes us to the end of the year. Here at Mayer Brown, Morgan and I will be watching this space, ensuring that we can offer you an inside the belt way perspective on the Gold Card program. That concludes this episode of The Inside Track. Thank you for joining us.