A "gold card" is a special type of work visa that can only be purchased by US companies. It costs $5 million bucks. That company can then grant their gold card visa to any qualified foreigner they wish to hire. In theory, it allows US companies to recruit top notch, high skilled labor that otherwise may not be able to get a work visa in the US. The high cost, and special requirements dissuades companies from importing just anyone for cheap migrant labor.
grant one gold card to anyone, just one? For 5 million they could hire a dozen highly qualified Americans. I'm wondering if this "gold card" provides a company with the ability to bring in dozens, if not hundreds, of foreign workers. That would be the only way it would make sense for a company to put out that much money just to get people working for them.
If that is the case, I don't see how any company would do that, in economic terms. Perhaps it would be used for some relative of someone in the company.
The Gold Cards have been selling well. Sports teams pay many millions for elite players. Companies paying $5 million for world class talented employees isn't much at all when you consider the kinds of people that can buy.
$5M is rounding error for any of the top 1000 corporations in America. Plus, it is a "business expense" directly deductible from profits. This is nothing for them. If they want to steal talent from a foreign competitor and hire an Executive with a salary of $1-2M per year and they expect to keep that person for 3-4 years rather than 1 year on a temporary work permit, the numbers may actually make sense. Corporations probably view the $5M as a "fringe benefit" (but not taxable for employee like some insurance) and a powerful recruiting tool.
I haven't heard of U.S. corporations seeking overseas business people. It seems it is only overseas tech people they want, and seemingly only because they can get them to work for less than U.S. citizens.
A "gold card" is a special type of work visa that can only be purchased by US companies. It costs $5 million bucks. That company can then grant their gold card visa to any qualified foreigner they wish to hire. In theory, it allows US companies to recruit top notch, high skilled labor that otherwise may not be able to get a work visa in the US. The high cost, and special requirements dissuades companies from importing just anyone for cheap migrant labor.
grant one gold card to anyone, just one? For 5 million they could hire a dozen highly qualified Americans. I'm wondering if this "gold card" provides a company with the ability to bring in dozens, if not hundreds, of foreign workers. That would be the only way it would make sense for a company to put out that much money just to get people working for them.
No. It is 1 gold card per employee. $5 million per employee.
If that is the case, I don't see how any company would do that, in economic terms. Perhaps it would be used for some relative of someone in the company.
The Gold Cards have been selling well. Sports teams pay many millions for elite players. Companies paying $5 million for world class talented employees isn't much at all when you consider the kinds of people that can buy.
$5M is rounding error for any of the top 1000 corporations in America. Plus, it is a "business expense" directly deductible from profits. This is nothing for them. If they want to steal talent from a foreign competitor and hire an Executive with a salary of $1-2M per year and they expect to keep that person for 3-4 years rather than 1 year on a temporary work permit, the numbers may actually make sense. Corporations probably view the $5M as a "fringe benefit" (but not taxable for employee like some insurance) and a powerful recruiting tool.
I haven't heard of U.S. corporations seeking overseas business people. It seems it is only overseas tech people they want, and seemingly only because they can get them to work for less than U.S. citizens.