Trump's gold card programme goes live, offering US visas starting at USD 1 million per person
Washington (AP): President Donald Trump announced on Wednesday that his long-promised "gold card" was officially going on sale, offering legal status and an eventual pathway to US citizenship for individuals paying USD 1 million and corporations ponying up twice that per foreign-born employee.
A website accepting applications went live as Trump revealed the start of the programme while surrounded by business leaders in the White House's Roosevelt Room. It is meant to replace EB-5 visas, which Congress created in 1990 to generate foreign investment and had been available to people who spend about USD 1 million on a company that employs at least 10 people.
Trump sees the new version as a way for the US to attract and retain top talent, all while generating revenue for federal coffers. He has been promoting the gold card programme for months, and once suggested that each card would cost USD 5 million, though he more recently revised that to the USD 1 million and USD 2 million pricing scheme.
The president said all funds taken in as part of the programme will "go to the US government" and predicted that billions would flow into an account run by the Treasury Department "where we can do things positive for the country."
The new programme is actually a green card, effectively offering permanent legal residency with the chance for citizenship.
"Basically, it's a green card but much better," Trump said. "Much more powerful, a much stronger path."
The president made no mention of requirements for job creation for applying corporations or on overall caps on the programme, which exist under the current EB-5 programme. Instead, he said he had heard complaints from business leaders who had been unable to recruit outstanding graduates from US universities because they were from other countries and lacked permission to stay.
"You can't hire people from the best colleges because you don't know whether or not you can keep the person," Trump said.
Trump has built his political career around clamping down on the US-Mexico border and championing hard-line immigration policies. His second administration spent its first 10-plus months launching mass deportation pushes and sweeping immigration crackdowns that have targeted cities including Los Angeles and Charlotte.
But he has also drawn criticism from leading voices of his "Make America Great Again" movement for repeatedly suggesting that skilled immigrants should be allowed into the US -- something the gold card programme could facilitate.
Commerce Secretary Howard Lutnick said the programme will include USD 15,000 for applicant vetting and that the thorough process used to scrutinise backgrounds would "make sure these people absolutely qualify to be in America." Companies will be able to receive multiple cards, but will be limited to one individual per card, he said.
Lutnick also said the current green card holders earn less money than the average American, and that Trump wanted to change that.
"So, same visas, but now just full of the best people," Lutnick said.
Investors' visas are common around the world, with dozens of countries offering versions of "golden visas" to wealthy individuals, including the United Kingdom, Spain, Greece, Malta, Australia, Canada and Italy.
Trump said the programme means the US is "getting somebody great coming into our country because we think these will be some tremendous people" and singled out top US college graduates from China, India and France as among those who will possibly be receiving gold cards.
"The companies are going to be very happy," he said.
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Commercial LPG hike: Delhi restaurant owners warn of higher menu rates, job losses
New Delhi (PTI) A day after a 50 per cent rise in commercial LPG cylinder prices, Delhi's food business, with restaurant owners and street vendors have warned of higher menu rates, financial strain and potential job losses if the trend persists.
The price of commercial LPG was hiked by a steep Rs 993 per 19 kg cylinder, marking the third consecutive monthly hike amid rising global energy prices linked to the West Asia conflict.
For many in the restaurant industry, the spike has been both sudden and steep.
Manpreet Singh, honorary treasurer of the National Restaurant Association of India, said that eateries are already grappling with supply challenges alongside rising costs.
"There is a huge difficulty in getting these cylinders, and black marketing is also increasing in many unregulated sectors," he said, noting that prices that were once around Rs 1,600, often dropping to nearly Rs 1,300 with discounts, have now surged to between Rs 3,000 and Rs 4,000 per cylinder.
He further added that a medium-sized restaurant typically uses between two and five cylinders daily, making the increase particularly burdensome as costs mount.
Singh further said that as costs mount, smaller establishments could struggle to stay afloat. Instead, the association has advised restaurants to shift towards piped natural gas connections through Indraprastha Gas Limited as a more sustainable alternative.
"If this problem continues, PNG is the only long-term solution," he said, adding that temporary measures like coal offer limited relief due to slower cooking times and that it can largely be used only for tandoors.
Echoing similar concerns, Kabir Suri, owner of Mamagoto in Khan Market, said the impact is already visible across the industry. "There has been almost a threefold increase in cylinder prices for restaurants," he said, adding that rising fuel and logistics costs are compounding the pressure.
"If this continues, it will become a significant financial burden, and food prices will inevitably go up. Adding to this burden, higher fuel costs are also affecting logistics and transportation, making a price rise unavoidable. The extent of the impact will vary between small eateries and large chains depending on their scale," he said.
Global oil prices have surged nearly 50 per cent following disruptions in energy supply chains due to the West Asia conflict, pushing up commercial fuel costs and transport expenses.
A West Delhi-based restaurateur said they are trying to manage rising costs while keeping their staff secure. "We are trying to ensure that our staff, from kitchen workers to waiters, are paid on time and do not face immediate hardship," the owner said.
"We are a small restaurant with seating for about 20 to 25 people at a time. But if this continues for long, we will have to take difficult calls. There is only so much we can absorb, and menu prices will have to go up. We hope this does not continue for a longer period," he said.
Another restaurant owner in North Delhi, who did not wish to be named, said operational adjustments alone may not be enough. "We are checking our costs very carefully and trying to cut wherever possible, but if fuel prices remain high, it will eventually affect how we run the business," the owner said.
"Coal helps in tandoor cooking, but it takes more time," the owner further added.
The strain is even more acute among street vendors, many of whom operate on thin margins. A vendor in Saket said he had recently expanded his business, moving from a mobile cart to a rented outlet.
"I have a family to feed and more responsibilities now. Earlier, I managed with a moving cart, but after renting the place, expenses increased," he said. "Whenever cylinders were unavailable, I had to buy them at higher rates in the black market. Now even regular supply is too expensive, and if this continues, we may have to shut down," he added.
In Laxmi Nagar, another vendor said they are struggling to keep the business running. "Sometimes we even used domestic cylinders from home when supply ran out because we had to keep the stall running," he said, adding that rising costs leave little choice but to increase prices or bear losses.
On April 1, the rates of commercial LPG cylinders were hiked by Rs 195.50 per cylinder, followed by a Rs 114.5 hike on March 1, taking the total increase over the past three months to Rs 1,303. With the latest revision, a 19 kg commercial LPG cylinder now costs Rs 3,371.5 in Delhi, up from Rs 2,078.5 earlier.
The prices of domestic LPG cylinders used for household cooking have remained unchanged. They were last increased by Rs 60 per 14.2 kg cylinder on March 7 and currently cost Rs 913 in Delhi.
