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

[wellington]

Pretty sure they've already raised 5billion$ from this.

 

[Davis123]

Pretty sure they've already raised 5billion$ from this.

If he had raised 5 million from one person he would have shown them on media. He is a show off. With 5 million you can live tax free around the world.

 

[Martin Everson]

Maybe Canada and Mexico should announce their own Golden Residency programs for much less than $5m. I think competition is a good thing

i.e invest $1m get permanent residency for you and your family and no tax on foreign sourced passive income held abroad. Window of opportunity only open to those who apply during Trumps term in office .

 

[wellington]

It was one of the administration stating 5 billion already raised from this.

 

[HardRJones]

It was one of the administration stating 5 billion already raised from this.

I suspect that was just Trump or someone talking like they do. The program doesn’t exist yet so I can’t see how.

 

[Sols]

Maybe Canada and Mexico should announce their own Golden Residency programs for much less than $5m. I think competition is a good thing

https://www.quebec.ca/en/immigration/permanent/immigrate-business/investors

1.2 million investment (five years, no interest, 1 million returned) and networth of 2 million. In CAD. Requires intermediate French, though.

Wonder if we'll see other provinces and territories follow suit.

Mexico has something similar based on income, savings, property, or investment, all of them with reasonable/modest requirements.

 

[marioIT]

it is real!
This initiative is set to replace the 35-year-old EB-5 investor visa program.
a bit kitsch for my taste but hey... can't wait to see some rich left winger with that card in their pocket
trump living rent free in their head

https://twitter.com/x/status/1907904956600037569

 

[JohnnyDoe]

it is real!
This initiative is set to replace the 35-year-old EB-5 investor visa program.
a bit kitsch for my taste but hey... can't wait to see some rich left winger with that card in their pocket
trump living rent free in their head

https://twitter.com/x/status/1907904956600037569

Genius.
I was selling something similar when I was about 10 years old. My card gave you nothing but it was so exclusive that kids raced to buy it

 

[marioIT]

(ty Martin!)
There is a trick I forgot mentioning...
"Unlike American citizens, Gold Card holders are exempt from paying U.S. taxes on their overseas income."

David Lesperance, Managing Partner at Lesperance & Associates told Newsweek:
"The promoted feature of the "Trump Card" is that the holders will magically only be subject to US territorial taxation. To actually make this happen would require a change to the definition of being a US person for Tax Purposes in the Internal Revenue Code. There would need to be a new category that outlines how Gold Card holders' tax obligations are completely different from the worldwide tax obligations of Citizens, Green Card Holders, and those who trigger the Substantial Presence Test."

Donald Trump said in the Oval Office: "It's going to be a route to citizenship, and wealthy people will be coming into our country by buying this card. They will be wealthy, they will be successful, they will be spending a lot of money and paying a lot of taxes."

 

[mrnotputin]

(ty Martin!)
There is a trick I forgot mentioning...
"Unlike American citizens, Gold Card holders are exempt from paying U.S. taxes on their overseas income."



Donald Trump said in the Oval Office: "It's going to be a route to citizenship, and wealthy people will be coming into our country by buying this card. They will be wealthy, they will be successful, they will be spending a lot of money and paying a lot of taxes."

What if they're not a US resident? 0 tax?

 

[JohnnyDoe]

Donald Trump said in the Oval Office: "It's going to be a route to citizenship, and wealthy people will be coming into our country by buying this card. They will be wealthy, they will be successful, they will be spending a lot of money and paying a lot of taxes."

If you are smart and living in the U.S. making money is almost inevitable. I would be fine with paying whatever taxes they charge on that money as long as my non-U.S. income remains tax free.
If the program materializes as described, it will be checkmate for every other golden visa or flat tax scheme out there.