Washington DC - President Donald Trump and the White House have officially begun taking applications for recipients of his long-promised Gold Card for immigrants willing to pay a steep fee for US residency.

In a Truth Social post shared on Wednesday night, Trump announced: "THE UNITED STATES GOVERNMENT'S TRUMP GOLD CARD IS HERE TODAY!"

"A direct path to Citizenship for all qualified and vetted people. SO EXCITING!" he wrote. "Our Great American Companies can finally keep their invaluable talent."

Several hours later, Trump shared a photo of himself seated in the Oval Office, holding one of the new cards while grinning from ear to ear.

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The website, which is currently taking applications for the program, promises to help "Unlock life in America" in "record time" for anyone willing and able to pay a $15,000 Department of Homeland Security processing fee, pass a background check, and provide a contribution of $1million alongside other additional fees.

While the process may take "weeks," those approved will receive permanent resident status as an EB-1 or EB-2 visa holder.

The site also teases a Trump Platinum Card, which will allow foreign nationals to pay a $5 million contribution to gain "the ability to spend up to 270 days in the United States without being subject to US taxes on non-US income."

While critics have accused the president of creating a pay-to-play scheme that clearly favors the rich as he continues to denigrate poor immigrants, Trump has previously said he believes the program will be "tremendously successful" for the country.

Trump has led an aggressive anti-immigration agenda since the start of his second term, which has resulted in thousands of immigrants being arrested and deported, many without due process.

However, cracks have appeared among his base over opposing views when it comes to highly skilled foreign workers, coveted by Trump's rich backers but disdained by his nativist supporters.

The 79-year-old first teased the Gold Cards back in February, initially setting the contribution fee to $5 million. But in September, he signed an executive order for the launch and lowered the amount to $1 million.

According to CNN, Commerce Secretary Howard Lutnick – who has previously argued the traditional green card process forces the US to take in the "bottom quartile" of immigrants – claimed in February that the cards are expected to raise $1 trillion to pay down the national debt.