Exactly this would be minimum requirement I would say.
True so they would need to avoid blue states and maybe move to Florida, Texas and Las Vegas. I would say 99% would move to Florida for weather and also to moor their superyachts
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.
if buying real estate qualifies (and I can throw in some 3-5 full time employees) then I will definitely start googling “buy ranch in Texas” and “beachfront florida real estate”.So @JohnnyDoe, would you move to Florida or Texas if most of your passive income is foreign-sourced?
UHNWI is considered 30M+? I always worked with like 1B+
That would be a very small group, about 3,000 people worldwide.UHNWI is considered 30M+? I always worked with like 1B+
Florida sounds ok, 5M would be a reasonable budget to work with but everything depends on whether one would trust the future US governments that the foreign income will stay tax-free perpetually - for some reason I'm really reluctant to believe thatif buying real estate qualifies (and I can throw in some 3-5 full time employees) then I will definitely start googling “buy ranch in Texas” and “beachfront florida real estate”.
The Donald knows how toscamsell.
no kidding - my self-esteem just pumped to ATHAffluent > $250k
HNWI > $2m
UHNWI > $20m
Florida sounds ok, 5M would be a reasonable budget to work with but everything depends on whether one would trust the future US governments that the foreign income will stay tax-free perpetually - for some reason I'm really reluctant to believe that
but the taxation and path to citizenship is going to need Congress to pass laws.
the foreign income tax exception and path to citizenship doesn't make much sense to me... how on earth could anyone expect to be acceptable for the public that there is a privileged class of citizens when it comes to taxation?This is going to take significant congressional action to implement. He might be able to implement a new visa type administratively, but the taxation and path to citizenship is going to need Congress to pass laws. They can barely get much easier changes to tax laws through right now.
more likely they will decrease it.How likely is it that other countries will increase their Golden Visa requirements if this goes through?
If you’re worth $100m+ it’s indeed not crazy - I don’t think anyone at $20m NW would give up 25% of their net worth for a residence card unless the tax regime that comes with it is extremely beneficial.Also a one time donation of $5m is not crazy money for a UHNWI.
I mean in Italy their program requires donation of 200,000 euros each year and lasts only 15 years. If a one time $5m gets you a guaranteed indefinite tax program it is not that absurd an amount to pay.
TruePlus no EU or foreign country could bully U.S into ditching the program or abolishing it in future if it actually happens.
It’s undeniable that living in the U.S. gives terrific opportunities. I see the ticket price for such privilege well justified.If you’re worth $100m+ it’s indeed not crazy - I don’t think anyone at $20m NW would give up 25% of their net worth for a residence card unless the tax regime that comes with it is extremely beneficial.
Much cheaper though… €1.5m in total back then (now double since last year). Not for a lifetime but still.
that is already the case today. Albeit more hidden and less in your face.the foreign income tax exception and path to citizenship doesn't make much sense to me... how on earth could anyone expect to be acceptable for the public that there is a privileged class of citizens when it comes to taxation?
due to very high amount of bad blood in the us politicw, its nearly safe to say all trump things will be cancelled after the 2028 election.If you’re worth $100m+ it’s indeed not crazy - I don’t think anyone at $20m NW would give up 25% of their net worth for a residence card unless the tax regime that comes with it is extremely beneficial.
Much cheaper though… €1.5m in total back then (now double since last year). Not for a lifetime but still.
A low annual payment is financially safer than a huge one time fee in the long run - Will those benefiting from the regime be grandfathered when the Dems takes back control of the White House and repeal it?
True
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