To register interest in its $5 million “gold card” visa, the administration of President Donald Trump has launched a website.
“Thousands have been calling and asking how they can sign up to ride a beautiful road in gaining access to the Greatest Country and Market anywhere in the World,” Trump stated on Wednesday on Truth Social.
Why It Important?
The president put up a proposal in February for a gold card scheme that would grant U.S. residency to anyone who invested $5 million in the country. The Trump administration, which has halted some green card applications, terminated Temporary Protected Status for certain migrants, and carried out huge deportations, has announced the gold card as one of the remaining routes to citizenship.
What You Should Know
When access to the program opens, users of TrumpCard.gov are prompted to provide their names, areas, and email addresses in order to be notified. In addition, they must specify if they are applying as a business or as a person.
As soon as applicants fill out the online form, the website says, “You’ll be the first to hear when access opens.”
One of the main features of the “Trump Card” visa is its territorial tax system, which would only tax money produced in the United States and not outside.
The administration has hinted that Trump’s gold card would eventually take the place of the current EB-5 visa. Established in 1990, the EB-5 program requires applicants to pay the US Citizenship and Immigration Service fees ranging from $100,000 to $200,000. Investors must also provide at least 10 jobs for American people and invest between $800,000 and $1 million.
According to source stated, “I think EB-5 and the Gold Card can coexist as separate pathways targeting different investor profiles.”
Source went on: “EB-5 appeals to families seeking permanent U.S. residency, often funding the $800K through savings or asset sales, with the expectation of capital return.”
“In contrast, the Gold Card is designed for ultra-wealthy global citizens willing to pay a nonrefundable $5 million for optional U.S. residency and favorable tax treatment, without disrupting their international business interests.”
