A new visa program introduced by U.S. President Donald Trump, dubbed the ‘gold card,’ has caught the attention of elite individuals worldwide. Despite the excitement, experts suggest that concerns about higher taxes and other immigration factors may limit the program’s appeal to wealthy investors seeking U.S. citizenship.
The proposed gold card plan aims to replace the existing EB-5 immigrant investor visa program, which requires a minimum investment of $800,000. Trump’s announcement of the new program has generated speculation and interest among potential applicants. However, some advisors point out that the $5 million price tag for the golden visa, coupled with potential global tax liabilities, may deter prospective investors.
While Trump’s initiative comes amidst growing pressure in the European Union to tighten residency-by-investment programs, experts are skeptical about the economic impact of such schemes. A recent study highlighted the minimal contribution of golden visa programs to foreign investment and GDP.
The EB-5 visa, popular among Hong Kong and Chinese residents, has been a key pathway for investment and education opportunities in the U.S. However, the proposed increase in investment requirements under the gold card program could significantly reduce the number of applicants, particularly from China.
As discussions continue about the potential benefits and drawbacks of the gold card program, experts emphasize the need for congressional approval and careful consideration of existing programs like EB-5. While the U.S. remains an attractive destination for many aspiring immigrants, concerns about tax regulations and investment thresholds may impact the program’s success.
Overall, the introduction of the gold card visa program signals a new chapter in U.S. immigration policy, with implications for wealthy individuals worldwide seeking to pursue opportunities in the country.
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