Elon Musk-led DOGE working to develop system for $5 million 'Gold Card' visas. Details here

Elon Musk's Department of Government Efficiency (DOGE) is spearheading a new initiative to introduce a special immigration visa, termed 'gold card', priced at $5 million. This venture signifies a strategic pivot for DOGE, which initially sought to cut government expenses but is now looking to generate revenue. President Trump has labeled these as "gold cards," aiming to provide a "route to citizenship" for "very high-level people."

Engineers collaborating with Musk's team and officials from the State Department and the Department of Homeland Security have been working on developing the website and application process for these visas, The New York Times reported.

The gold card system is designed to replace the existing EB-5 visa programme, which grants permanent residency to foreign nationals investing in U.S. businesses. The existing EB-5 programme, which requires an investment of $800,000 to $1.05 million, generated approximately $4 billion for the U.S. government last year.

Commerce Secretary Howard Lutnick claimed on a podcast to have sold 1,000 of these gold cards "yesterday," although it appears no financial transactions have been confirmed yet.

The system is intended to streamline the visa application process by bypassing the usual procedures, significantly speeding up residency approvals for affluent applicants to within two weeks. "If you have a gold card—which used to be a green card—you’re a permanent resident of America," Lutnick asserts, adding that the holders must abide by the law.

Additionally, the project has faced some controversy. Marko Elez, one of the leaders on the DOGE side, resigned following revelations linking him to a pseudonymous account associated with racist content. Despite this, Elez continues to work across various government departments. Joe Gebbia, Airbnb's co-founder, is also engaged in the project, initially joining to digitise federal worker retirement processes.

The 'gold card' initiative has been a subject of debate due to its high cost and the fast-tracking of immigration processes. Mr. Musk is reportedly developing the supporting software "right now", with the programme's release expected in the next two weeks. The proposed cards, featured by President Trump aboard Air Force One, depict his image alongside the Statue of Liberty and a bald eagle, and are anticipated to be ready "within a week and a half."

The new visa system will allow wealthy individuals to gain permanent residency in the U.S., provided they remain law-abiding. The project, however, has raised questions about its implications on the traditional visa process and the broader impacts on U.S. immigration policy.