For experts who promote a federal residency program for foreign investors, President Donald Trump’s shock therapy approach to revamping the nation’s immigration policies delivered another surprise last week when he announced a new $1 million per head “Trump Gold Card.”

The president, in an executive order signed late Friday, gave the Departments of Commerce, State and Homeland Security 90 days to develop a gold card program that would lead to residency for people who pay $1 million to the U.S. Treasury. For $2 million, corporations could sponsor individuals. The visas can be quickly obtained after applicants are vetted by Homeland Security — for a fee of $15,000.

Commerce Secretary Howard Lutnick said the gold visa program would replace other employment-based paths to permanent residency

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