New Delhi, Dec. 11 -- US President Donald Trump has announced a new investment-led immigration programme that would allow wealthy foreign nationals to obtain accelerated permanent residency in the United States by purchasing a so-called Gold Card visa for $1 million, with a higher-tier "platinum" option priced at $5 million also under consideration.

The initiative, introduced via executive action and promoted heavily online, has been framed by Trump as both a revenue-generating mechanism for the federal government and a tool to prioritise the admission of successful entrepreneurs, investors and highly valued corporate talent.

The Trump Gold Card is a premium residency programme offering foreign applicants the prospect of becoming lawful...