Wealthy immigrants will be able to buy residency, and $5m ‘platinum card’ will exempt holders from some US taxes

Donald Trump launched a new program that will allow wealthy foreign individuals to buy a US “golden visa” for $1m, and trailed a “platinum” version for $5m.

“A direct path to Citizenship for all qualified and vetted people. SO EXCITING! Our Great American Companies can finally keep their invaluable Talent,” Trump wrote on Wednesday on social media.

A “Trump Platinum Card” is also “coming soon”, according to the official website. This card will allow holders to spend up to 270 days in the US without being subject to US taxes on non-US income. It will cost $5m.