US President Donald Trump has introduced a new “gold card” visa, which costs $5 million and offers a path to permanent residency in the United States. This visa will replace the current green card and allow holders to live in the US indefinitely. While it doesn’t require holders to become US citizens, it gives them the option to do so. However, most gold cardholders are expected to avoid citizenship to bypass global taxation rules.
Commerce Secretary Howard Lutnick announced that 1,000 gold cards were sold in a single day, highlighting the strong demand for the program. Lutnick also stated that Elon Musk is working on the software to launch the program, which is expected to go live in about two weeks. The card is aimed at wealthy individuals who may want the option to relocate to the US during times of crisis, offering them a form of insurance.
Gold cardholders will not be taxed on income earned outside the US, and only money made within the US will be taxable. Trump believes the program will bring in skilled individuals and reduce the national debt by increasing tax revenue. He also suggested the program could generate up to $5 trillion if one million gold cards are sold.
The gold card is intended to replace the EB-5 investor visa, which allows foreign nationals to obtain a US green card by investing in American businesses. Trump sees the program as a way to attract talented, job-creating individuals while also boosting the US economy. However, experts suggest that interest from Indian applicants may be limited, as many may not be eager to relocate or may seek other countries offering similar opportunities.
This post was last modified on 4 April 2025 3:12 pm
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