Donald Trump has recently announced a new ‘Gold Card‘ visa plan, allowing foreign investors to be permanent residence and work in the US by paying $ 5 million. The scheme will replace the existing EB-5 investor visa program, with a minimum investment of $ 800,000 and creation of 10 US jobs.
Major points of Gold Card Visa:
- Investment amount: $ 5 million, which makes it the world’s most expensive ‘Golden Visa’.
- Benefits: Immediate US residence permission, career and route to citizenship, and tax exemption on income outside the US.
- Objective: Reducing American national debt and attract global talents.
- Target Group: Extremely wealthy person and world class businessman.
The Trump administration believes that the scheme will have billions of dollars of income, which will help in reducing the US national debt of $ 35 trillion. However, experts say that the legality of this scheme raises questions and Congress approval may be necessary.
CBS News
Criticisms and Concerns:
👉 High Cost: The amount of $ 5 million is excessive for most investors.
👉 Tax Policy: The policy of imposing tax on global income of the US may discourage investors.
👉 Legal ambiguity: The validity of the scheme is suspicious without the approval of the Congress.
