The procedure will be supervised by the Secretary of Commerce under the new initiative, working with the Secretaries of State and Homeland Security. An “unrestricted contribution” of $1 million to the Department of Commerce can qualify a person for an expedited visa. An individual may also be sponsored by corporations or other comparable organizations by contributing $2 million.

This financial contribution will be regarded as proof of “exceptional business ability and national benefit,” according to the executive order, which may enable applicants to be eligible for a national-interest waiver and other accelerated considerations under current immigration regulations.   

A separate Department of the Treasury fund will receive the presents, and the Department of Commerce will utilize the money to “promote commerce and American industry.”

The goal of the Gold Card, according to the government, is to establish a more merit-based immigration system that prioritizes those who can make a financial contribution to the American economy. The directive also states that in the future, the administration will think about extending the program to additional visa applicant categories.      

Although the specifics of implementation will be decided in the upcoming months, the White House said the order is effective immediately. The costs of publishing the order and making it public will be covered by the Department of Commerce.