US President Donald Trump unveiled the long-awaited Gold Card visa on Wednesday, billing it as a million-dollar fast track to US citizenship and a tool for companies desperate to keep foreign graduates.

Trump called it "somewhat like a green card, but with big advantages," telling business leaders they could "go to any school, buy a card, and keep that person in the United States."

The White House began accepting applications from Wednesday afternoon. The card costs $1 million for individuals and $2 million for corporate sponsors.

Below is an explainer for applicants trying to understand the new system.

WHAT IS THE GOLD CARD?

The Gold Card is a new US visa pathway based on an applicant’s ability to deliver substantial benefit to the United States. It comes with a $15,000 processin

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