On Feb, 25, President Trump unveiled a biggest golden visa scheme the world has ever seen. Trump got the attention of the richest people in the world to come and invest in the US.
Trump gold cards has set off a buying frenzy, already 1000 gold cards sold in a single day each card costs $5 million donated to the U.S Government (non-recoverable investment), raising $5 billion according Commerce secretary Lutnick. Let’ say A family of 5 applying for US gold green cards cards would need to pay $25 million, one gold card for each family member.
Through this plan US is all set to become home attracting mega rich families and Billionaires. Worldwide, there are estimated close to total 60 million millionaires in the world, who may pay close attention to the Gold card visas introduced by Trump administry. Assuming 1 million gold cards sold, would bring in whopping $5 trillion surplus to US government coffers, can be used to trim down $35 trillion debt.
The premium perks of Trumps gold card are ..
- Fast tracked permanent residency (no lengthy waits)
- No taxes on worldwide income
- No minimum residence required.
- No job creation required.
- No tests, language proficiency or business experience.
- Family members are admitted
- No cap on the number of gold cards issued.
- Non-preferential Path to U.S citizenship
- Freely do business without any hurdles
- Unrestricted access to US real estate market.
The US government has currently paused processing green card applications, soon the EB-5 ($1 million) program will be replaced with $5m Gold card program to reduce US deficit.
Paying $5 million to US government has its own perks to sidestep taxation, lets say you pay $500,000 taxes to US on your worldwide income, in ten years you would pay $5 million to IRS. You are better off paying $5m to Trump avoiding the worldwide taxation and can be at peace for life.
Mega tech companies can play a big role buying in US green cards. Fortune 500 firms can buy U.S gold cards to recruit and sponsor highly skilled foreign people to ‘gift’ them a permanent residency in the U.S. Buyers of the GC will undergo maximum vetting to protect the national interests of United States according to the recently issued Executive Order signed by President Trump
The idea of Gold cards ‘blossomed’ during a meeting with Trump and investor John Paulson according to news reports. While a number of EU and other countries shutting down GV schemes, expressing concerns of money laundering and tax evasion with operating golden visa scheme, the Trump administration has taken “bold” idea of fast tracked gold cards to rich investors, subjected to strictest background checks by US authorities.
