South Africa: All Beneficiaries Will Continue to Receive Social Grants Beyond the Deadline for Moving to Black Cards, Committees Hear
However, those without Black Cards after the new deadline will only receive their grants at their nearest branches of the South African Post Office, because the Gold Card will be deactivated.
The committees both raised their serious concern about the way in which the project was conceptualised and managed from the start, saying that communication was inadequate. They also expressed displeasure about the inconvenience beneficiaries have suffered due to the long queues and slow services, calling on the Postbank to redouble its efforts to ensure that all beneficiaries are treated with dignity and are helped expeditiously.
The committees advised the Postbank and SASSA to work closely with the Government Communications and Information System to leverage its communication network and specialised competency.
To address the challenge of long queues, the committees called for the introduction of additional service points in the form of mobile offices in rural areas where beneficiaries will be assisted speedily, without relying solely on retail stores often located at big shopping centres and malls.
Lastly, the committees thanked social grant beneficiaries for their patience with the process, which was necessary to ensure the security of the cards used to access social grants.
Distributed by APO Group on behalf of Republic of South Africa: The Parliament.
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Arabian Business
10-07-2025
- Arabian Business
Trump's $5mn Gold Card in question as hefty price tag, tax burden may deter wealthy investors
The Trump administration's proposed $5 million 'Gold Card' residency programme has hit significant hurdles before even launching, with no legislation drafted and experts warning that worldwide taxation requirements could be a 'deal-breaker' for potential wealthy applicants. 'Worldwide taxation is the deal-breaker. Full stop,' Jeffrey Henseler, CEO of Passport Legacy Group, told Arabian Business in an interview. 'For many high-net-worth individuals, especially in the Gulf and Asia, the US is seen as a high-risk tax jurisdiction.' The programme, announced by US President Donald Trump in May, would require applicants to make a non-refundable $5 million contribution to the US government—twenty times higher than some European alternatives that start at just $270,000 (€250,000). Armand Arton, founder of Arton Capital and an advisor to governments on investment migration programmes, confirmed to Arabian Business that despite marketing buzz, the programme is nowhere near implementation. 'I can confirm that it's not yet [launched]. Nothing sold. There's no legislation which is drafted,' said Arton, who has been in contact with Republican senators working on the initiative. He expects more details after meetings with US officials next week. The ' Gold Card ' scheme would require applicants to make a non-refundable contribution unlike the existing EB-5 visa programme, which requires a $1 million investment in job-creating ventures. The Gold Card payment would help 'replace and cancel debt of the government,' according to Arton. However, the programme faces steep competition from established European alternatives. Tax issues, European competition 'The most important question is, are you going to become taxable on worldwide income as a permanent resident of the United States?' Arton said. 'The tax exemption must be there.' European residency programmes offer significant advantages, starting at investment levels as low as $270,000 (€250,000) compared to the $5 million donation required for the Gold Card, Arton noted. He highlighted Italy's programme as particularly competitive, offering a flat tax rate of $216,000 (€200,000) per year for 15 years regardless of worldwide income. 'Even if you take that 15 years of $216,000, that's $3.24 million,' Arton explained. 'People will prefer to say that they're paying $3.24 million over 15 years and they're not taxed for 15 years and have access to a European lifestyle, than paying $5 million to get access only to the US and then being taxable on worldwide income.' Henseler echoed these concerns about the price differential in a separate interview with Arabian Business. 'The US is requesting an investment 20 times bigger than what we know from the EU,' Henseler said. 'A $270,000 (€250,000) investment for a European residency gives access to the EU lifestyle, business climate, and family benefits. Compare that to a $5 million non-refundable contribution – not even an investment – and it becomes clear that this programme is targeting a very specific niche.' Both experts identified worldwide taxation as potentially the most significant obstacle to the programme's success. 'Worldwide taxation is the deal-breaker. Full stop,' Henseler said. 'For many high-net-worth individuals, especially in the Gulf and Asia, the US is seen as a high-risk tax jurisdiction. FATCA compliance, global asset disclosure, and aggressive IRS enforcement don't sit well with families trying to diversify or protect generational wealth.' According to Henseler, the programme would need to 'avoid automatic tax residency' and 'limit or remove global reporting requirements' to be competitive. Ultra-wealthy appeal According to Arton, only individuals with a net worth exceeding $100 million would likely consider the programme, as the $5 million contribution would represent 5 per cent of their personal wealth. 'I don't believe that people with 30 million, 40 million and 50 million will risk, not risk, but will kind of lose 10 to 20 per cent of their personal network just to go to America,' he said. Interest has primarily come from ultra-high-net-worth individuals in Asia, particularly Singapore, India, Indonesia, and Malaysia, many of whom already have investments in the US or children studying at American universities. 'We have received interest from 70 millionaires,' Arton said, referring to individuals worth more than $100 million. These potential applicants are mainly 'Southeast Asian wealthy families that have kids in the US, have already some investments in the US.' Middle Eastern families with political connections might also apply 'just to please' Trump, Arton suggested. Programme status remains unclear Despite reports that cards have already been sold, Arton, who is in contact with Republican senators working on the legislation, confirmed that the programme has not yet launched and no cards have been issued. 'I can confirm that it's not yet [launched]. Nothing sold. There's no legislation which is drafted,' he said, adding that he expects more information in the coming months. The proposed Gold Card would offer permanent residency rights, similar to a Green Card, with a streamlined six-month application process compared to the years-long waits under the EB-5 programme. However, the path to citizenship remains unclear, including whether physical presence requirements would be waived. Both experts noted the apparent contradiction in right-wing immigration policies. 'It's a very interesting rhetoric that extreme right politicians are going that way—anti-migration, but at the same time very open to the idea of wealthy migrants coming and helping their economic agenda,' Arton said. Henseler offered a similar assessment: 'The right wing wants to attract the wealthy, the left wing wants to attract the poor. Right-wing governments are pragmatic when it comes to capital inflow. They understand that billionaires don't take jobs; they create them.' Gold Card vs. European RBIs According to a comparative analysis of investment migration programmes, the Gold Card faces several structural disadvantages beyond just price. European residency-by-investment programmes start at approximately $270,000 (€250,000) in Greece and around $540,000 (€500,000) in Portugal and Spain, compared to the $5 million non-refundable contribution proposed for the Gold Card. Global taxation represents another significant difference. European programmes typically don't trigger automatic worldwide taxation unless applicants stay more than 183 days per year in the country. By contrast, US permanent residents face taxation on their worldwide income regardless of physical presence. Annual stay requirements also differ dramatically. While some European programmes require as little as zero to seven days per year of physical presence, US residency status typically requires substantial time in-country or risks being lost. Exit options present another contrast. European programmes generally allow investors to easily drop or switch programmes, while the US imposes an exit tax for high-net-worth individuals renouncing residency. Privacy and reporting requirements also differ substantially. European jurisdictions offer varying levels of confidentiality, while the US system requires extensive financial disclosures through FBAR and FATCA compliance. The comparison highlights what Henseler describes as the 'deal-breaker' of worldwide taxation. European programmes like Italy's offer optional flat tax regimes ($108,000 or €100,000 per year) on global income, while the US system offers no such exemptions and requires extensive reporting. Despite the competitive challenges, Arton believes the Gold Card is 'great news for the industry' of investment migration, as it represents a major endorsement from 'the biggest economy in the world.' The comments came amid a global boom in residency and citizenship by investment programmes, which Arton says is growing at approximately 20 per cent annually. He attributes this growth to political uncertainty, the COVID-19 pandemic, and geopolitical conflicts like the Russia-Ukraine war, which have prompted wealthy individuals to seek 'Plan B' residency options. 'The demand is always increasing by 20 per cent every year,' Arton said. 'I don't see that slowing down anytime soon.'
Khaleej Times
01-07-2025
- Khaleej Times
Trump's Gold Card: 50% applications may come from Middle East millionaires, says expert
There is 'significant interest' from Middle Eastern millionaires in the US President Donald Trump's newly announced Gold Card residency programme, according to Armand Arton, CEO of leading immigration investment firm Arton Capital. Speaking to Khaleej Times, Arton said that individuals in the region are 'very curious,' and that genuine interest has already emerged from potential applicants. On June 12, Trump announced that his administration is accepting applications for the so-called 'Trump Card,' which offers permanent US residency in exchange for a $5 million (Dh18.35 million) non-refundable contribution. A dedicated website was launched to register interest, with over 70,000 people reportedly signing up in just a few days. 'I don't think we'll see strong uptake from Europeans or Africans — perhaps a few Nigerians,' Arton said. 'There are wealthy individuals in CIS countries like Kazakhstan, Uzbekistan, and Azerbaijan who might be interested, but their countries don't allow dual citizenship, similar to India and the Gulf." "The real concentration of centi-millionaires and millionaires is in the UAE, Saudi Arabia, Singapore, China, and Hong Kong. I expect around 50 per cent of applicants will come from the Middle East — mainly non-GCC countries — because they tend to be more pro-Trump than many Asians or Europeans.' Arton noted that individuals from countries currently banned from entering the US — including Afghanistan, Myanmar, Chad, Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Somalia, Sudan, and Yemen — are unlikely to be eligible for the programme. He added that the Trump team is still finalising the legal framework, developing the application system, selecting a vetting agency, and determining payment procedures. 'I expect it will take longer than 2 to 3 weeks to launch. Some requirements could involve deeper constitutional changes,' Arton said, predicting that the programme may officially roll out in the last quarter of the year. Residency, not direct citizenship According to Arton, the $5 million is a donation rather than an investment, unlike many European residency programmes, which typically involve purchasing real estate, bonds, or shares. 'This will be more like Caribbean programmes, where applicants make a non-refundable contribution to the state,' he explained. In return, applicants may receive expedited US residency, which could make the programme appealing, especially when compared to the current EB-5 programme, which is slower and backlogged with thousands of applications. Trump had earlier also said that the card could be "a path" to eventual US citizenship. However, several critical questions remain unanswered. 'Will applicants be required to reside in the US for a certain period? And most importantly, will they be taxed on their worldwide income from the moment they become residents? That's a trillion-dollar question,' said Arton. 'If residency triggers worldwide taxation immediately, demand will be very low. I'd estimate fewer than 1,000 applicants globally.' World's most expensive residency Arton described the Trump Gold Card as the most expensive residency programme. 'Other programmes may cost $5 million, but those were structured as investments; money you get back in a few years,' he said. In contrast, the Trump programme involves a permanent, non-refundable donation. Applicants will also incur standard, small due diligence and legal processing fees. Importantly, all candidates will undergo thorough vetting to confirm their source of wealth and background. 'You'll need to prove not just the ability to donate $5 million, but also provide clear documentation showing where the money comes from. That's standard in all legitimate residency or citizenship programmes – funds must be clean, taxed, and not connected to any illicit activities.' Family inclusion Under current US immigration law, the primary applicant's spouse and dependent children under 18 are typically eligible for residency. Arton expects the Trump Card to follow this precedent. Asked whether a future US administration could revoke residency obtained through the programme, Arton was confident that such status would remain secure, provided no fraud is involved. 'Western governments don't revoke residency or citizenship granted under valid laws, unless the applicant has lied or submitted fraudulent documents. If they discover that, they can revoke your status, even decades later,' he said. 'But if the programme is legally terminated by a new administration, it would only affect future applicants. Existing residents would not be affected,' he concluded.
Khaleej Times
04-04-2025
- Khaleej Times
First look: Trump unveils $5-million 'Gold Card' with his image, becomes first buyer
"For 5 million dollars, this could be yours," said US President Donald Trump, waving what he termed the 'Trump Card' or 'Gold Card' to reporters. The US President unveiled the card aboard Air Force One, with an image of his face on it. What could 5 million dollars get you? According to Trump, it could be your ticket to US citizenship. A pricier version of the Green Card, this 'visa' eliminates the need for any investment in US job-creating industries. For now, it seems like: You got the cash? You got the card. Watch the video, shared by White House, here: When reporters asked Trump who would be the second buyer after him, he replied: "I don't know." The US President said the card would be out "in less than two weeks," and termed the move "pretty exciting." "It's going to give you Green Card privileges, plus it's going to be a route to (US) citizenship, and wealthy people would be coming into our country by buying this card," Trump earlier said. What if you pay $5 million and change your mind about the card? The fee is non-refundable, and has to be paid directly to the US government. While it saves applicants from the hassle of investing, this also means that there would be no returns created from the $5 million paid. This is not the first time Trump has launched a product with his face on it. In early January, before he took office, he launched a $TRUMP meme coin, featuring his fist in the air, along with the slogan "Fight Fight Fight", words he yelled moments after the assassination attempt.
