Gold Card Scheme Gains Momentum
The Trump administration’s Gold Card scheme has become a major success even before its official launch. According to US Commerce Minister Howard Lutnick, a staggering 1,000 Gold Cards were sold in a single day, with people eagerly lining up to obtain one.
What is the Gold Card Scheme?
Recently announced by US President Donald Trump, the Gold Card or Golden Visa scheme allows individuals to obtain permanent US residency by investing $5 million. This initiative is expected to attract wealthy investors from around the world, providing them with an alternative to the EB-5 visa program.
US Commerce Minister’s Statement
Speaking during a podcast interview, Howard Lutnick stated that while the formal launch is still two weeks away, the scheme is already a massive success. He revealed that 1,000 Gold Cards were purchased in a single day, indicating overwhelming interest.
Explaining the benefits of the Gold Card scheme, Lutnick said:
“If you are a US citizen, you are subject to global taxes. However, foreign investors do not come to America to pay global taxes. With a Green Card or now a Gold Card, you can become a permanent resident without being required to pay these taxes.”
Rules and Regulations of the Gold Card
The Trump administration has set a goal of issuing one million Gold Cards, with the revenue generated aimed at reducing the national debt. However, strict eligibility criteria have been established to ensure that only law-abiding individuals receive these cards.
Key rules include:
- Thorough background checks before issuing the Gold Card.
- Permanent residency benefits without mandatory citizenship.
- No global taxation for Gold Card holders.
- Revocation of Gold Cards if the holder is found involved in illegal activities.
Gold Card vs. EB-5 Visa
The Gold Card scheme is seen as a replacement for the EB-5 visa, which required an investment of $1 million. Under the new Gold Card program, the investment amount has been increased to $5 million, making it a premium residency option.
Economic Impact of the Gold Card Scheme
The Trump administration believes that the Gold Card initiative will:
- Boost foreign investment in the US economy.
- Attract high-net-worth individuals looking for tax-friendly residency.
- Help reduce national debt through collected investment funds.
Conclusion
With record-breaking pre-launch sales, the Gold Card scheme has already proven to be a game-changer in US immigration policy. As the official launch date approaches, the demand for these premium residency cards is expected to soar, cementing its status as a landmark initiative in US economic and immigration strategy.
