• Trump imposes a USD 100K annual fee on H-1B visas, raising costs for tech firms employing skilled foreign workers.
• A new “Gold Card” residency program grants U.S. stays to wealthy applicants for USD 1 million, or USD 2M via companies.
• A forthcoming USD 5M “Platinum Card” allows up to 270 days in the U.S. without taxes on foreign income.

Trump Work Visas

U.S. President Donald Trump announced an annual fee of USD 100 thousand for work visas widely used in the technology sector. This is a move that could have serious implications for companies that employ large numbers of Asians.

The H-1B visas allow foreign workers with specific skills—such as scientists, engineers, and computer programmers—to come and work in the United States. These work permits are temporary, issued initially for three years and renewable up to six years for foreigners sponsored by an employer. These visas have seen a record high rejection rate during the Trump administration’s first term.  

Since his first term, Donald Trump has expressed his determination to limit these permits in order to prioritize American workers. Furthemore, his administration believes that this fee will make it unprofitable for companies  to train and hire foreign workers. Thus, it believes that this will focus companies to train young American graduates. This comes amid a series of anit-immigatation measures taken by Trump and his administration.

Gold Card Residence Permit

The U.S. President also announced a new visa program for wealthy individuals, granting them residency in exchange for large sums of money. 

Furthermore, Trump signed an executive order to establish a ‘Gold Card” residence permit with expedited visa procedures. This will be worth USD 1 million or USD 2 million if backed by a company. Additionally, companies can secure residency for an unlimited number of their employees by contributing USD 2 million. This means that the organization can transfer residence benefits from one employee to another subject to transfer, vetting and annual maintenance fees.

He also announced a  “Platinum Card” worth USD 5 million to be available soon. It will grant its holders up to 270 days in the U.S. without being subject to American income tax on non-U.S. earnings.”