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2mo ago

Trump's Proposed 'Gold Card' Visa Offers $5M Pathway to Citizenship and Tax Breaks

The program targets wealthy investors with a unique tax incentive but faces skepticism over its feasibility and economic impact.

U.S. President Donald Trump (inset) speaks to members of the media before boarding Marine One on the South Lawn of the White House on February 28, 2025 in Washington, DC. Main: A sign for the Internal Revenue Service (IRS) is seen outside its building on February 13, 2025 in Washington, DC.
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Overview

  • President Donald Trump has announced the 'Gold Card' visa, a $5 million residency-by-investment program aimed at wealthy individuals seeking U.S. citizenship.
  • The proposed visa offers a notable tax benefit by exempting holders from paying U.S. taxes on foreign income, a feature unavailable to current citizens or green card holders.
  • Critics question the program's viability, citing limited details, its overlap with the existing EB-5 visa program, and concerns over whether it can attract sufficient interest from investors.
  • Residency-by-investment programs, often called 'golden visas,' are common globally but have faced criticism for enabling money laundering and offering insufficient economic returns in some countries.
  • The Trump administration has yet to clarify how the program will be implemented or how it will address pending applications under the EB-5 visa program.