Overview

• Commerce Secretary Howard Lutnick said the program is officially live following President Trump’s executive order.
• Individuals are priced at $1 million and corporations at $2 million per sponsored employee, with a $15,000 processing fee, DHS vetting, and corporate cards owned by the company with transfer options.
• Lutnick said the program will not expand immigration and will replace the diversity visa lottery as it targets high earners to build businesses and create jobs.
• Trump compared the visa to a “signing bonus” for companies to retain top talent, while Lutnick projected the program would raise more than $100 billion for the Treasury.
• Some reports say employment-based categories EB-1 and EB-2 would be replaced with 80,000 visas and a new ‘privileged permanent resident’ class, though experts note the legal authority and implementation details are likely to face challenges.