Trump Says Will Sell 'Gold' Residency Permits For $5 Million

[Alonzo]

https://www.independent.co.uk/news/...migration-buy-citizenship-green-b2704646.html

 

[JohnnyDoe]

Give me a lifetime tax exemption and I’m in

 

[daniels27]

“We're going to be putting a price on that card of about $5 million and that's going to give you [permanent resident] Green Card privileges, plus it's going to be a route to citizenship,” the president said. He branded it as “somewhat like a Green Card, but at a higher level of sophistication.”

I think there are enough existing routes already. Also, I think non -immigrant visa are much more appealing as they won't give you tax troubles unless you pass the substantial presence test.

 

[PassinBy]

I wonder if they'll be an American Values Visa

 

[daniels27]

They have no values

 

[Armani]

Good news for global money launderers.

 

[HardRJones]

Very doubtful this will get through Congress.

 

[void]

I don't get it... for 5M one can become the tax-slave with no chance to escape for the rest of his life? in exchange for what?
if somebody wants to live in the US then there must be plenty of solutions for a fraction of the price
or did I misread anything?

 

[pomo]

I don't get it... for 5M one can become the tax-slave with no chance to escape for the rest of his life? in exchange for what?
if somebody wants to live in the US then there must be plenty of solutions for a fraction of the price
or did I misread anything?

Trump said in the presser that there wont be any tax on income outside of the United States (normal rules apply for US sourced income).
That's different from the regular green card afaik?

He also said they might sell a million cards but I don't think there are that many people that are outside the US, have the money and find it worth it.

 

[Martin Everson]

https://www.independent.co.uk/news/...migration-buy-citizenship-green-b2704646.html

Wealthy successful foreigners want a green card so they can no longer easily bank anywhere outside US, so they also pay US high taxes and high inheritance tax, so they can live in a divided society with high gun crime, a society with 1 in 5 adults with mental illness, live in a criminal nation with worlds biggest prison population, live with on average at least one mass shooting a day, live with poor food quality, high obesity levels, poor environmental standards and a nation in absolute and relative decline by Trumps own admission!!! And these wealthy foreigners will pay $5m each for the privilege to live on that sacred soil? God bless America.

Trump is desperate and delusional. The U.S is literally turning into a banana republic selling routes to citizenship like a Caribbean nation. See it with your own eyes .

---- quote start

"“Wealthy people will be coming into our country by buying this card,” he continued. “They'll be wealthy and they'll be successful and they'll be spending a lot of money and paying a lot of taxes and employing a lot of people. And we think it's going to be extremely successful and never been done before.”

--- quote end

 

[Armani]

Trump said in the presser that there wont be any tax on income outside of the United States (normal rules apply for US sourced income).
That's different from the regular green card afaik?

He also said they might sell a million cards but I don't think there are that many people that are outside the US, have the money and find it worth it.

There aren't so many UHNWI (most of them are already in the USA) but a lot wealthy Chinese, Indians and Russians will be happy to partecipate i think.

 

[Marzio]

Trump said in the presser that there wont be any tax on income outside of the United States (normal rules apply for US sourced income).

So he is basically giving an option to all those UK non-doms that don't know where to move to.

 

[JohnnyDoe]

If it’s a $5m donation no thanks, if it can be real estate it starts to become interesting.

 

[Alonzo]

If it’s a $5m donation no thanks, if it can be real estate it starts to become interesting.

It’s very likely a sort of donation… to "pay off" the national debt.

If he wants to implement a non-dom style regime then it could be interesting for UHNWI foreigners (from third world countries) but $5m is way too much.

 

[joerog]

If it’s a $5m donation no thanks, if it can be real estate it starts to become interesting.

Its called EB5
back in the days it was 500k
Trump first term was bumped to 1m
Nothing new just bigger ticket
And yeah no one wants to be a US citizen if you have that kind of money

 

[pomo]

They've issued 135,518 EB-5 since 2000, so around 5,000 per year.
There are about 375k UNHWI ($30M+) outside the US according to Knight Frank Wealth Report 2024.
Very unlikely they sell more Gold Cards than EB-5 then.

 

[Martin Everson]

lol...Trump Golden Visa will replace EB5 they say. Also you will not pay taxes on foreign income

Ok I change my mind on this visa...lol

 

[Martin Everson]

If he wants to implement a non-dom style regime then it could be interesting for UHNWI foreigners (from third world countries) but $5m is way too much.

He does it seems from video. Its a non-dom scheme. I take everything back I said. He is gonna sweep up a lot of UHNW's globally with the non-dom part.

 

[Alonzo]

He does it seems from video. Its a non-dom scheme. I take everything back I said. He is gonna sweep up a lot of UHNW's globally with the non-dom part.

It could succeed if foreign income is tax exempt for an indefinite period after paying that gold card.

One big problem is that it would only apply at the federal level. (Blue) States with income tax are very unlikely to exempt it as well.

So @JohnnyDoe, would you move to Florida or Texas if most of your passive income is foreign-sourced?

 

[void]

There are about 375k UNHWI ($30M+) outside the US according to Knight Frank Wealth Report 2024.

UHNWI is considered 30M+? I always worked with like 1B+