Latest news with #TrumpCard
Forbes
5 days ago
- Business
- Forbes
Golden Visa: Where You Can Buy Residence Permits
This illustration picture taken on June 11, 2025 shows a person looking at the new website for the ... More planned $5 million US residency permit on a smartphone and on a laptop in Los Angeles. President Donald Trump touted a new website for his planned $5 million US residency permit on June 11, saying the waiting list for the golden visa has opened on (Photo by ETIENNE LAURENT / AFP) (Photo by ETIENNE LAURENT/AFP via Getty Images) After its unveiling in April and a highly popular waitlist launch in June, the Trump administration's proposed golden visa program seems to be stalling. Named 'the Gold Card' and later 'the Trump Card', it promises U.S. residency to wealthy individuals for a $5 million investment in the country. While Commerce Secretary Howard Lutnick announced the card would be made from real precious metal, all that glitters is not gold for the project that reportedly lacks legal grounding and faces an uncertain future. President Donald Trump said in April on board the Air Force One that a launch was less than two weeks away. However, by the end of July, no news on the topic has been shared and no law has been introduced in Congress despite almost 70,000 waitlist entries reportedly having been creating in less than a week after the launch of on June 11. Experts interviewed on the topic by CNBC have raised legal concerns surrounding the program. While Trump said he wanted to replace the current EB-5 program, which ties residency to the creation of an approximately $1 million new business, this would require unlikely Congressional approval. Another major issue is the U.S. tax code that taxes global income, which is not attractive for immigrant investors. Trump said he wants this changed, which again would be a major hurdle. This chart shows countries with residence-by-investment or similar schemes (as of Jul 2025). At the same time, interest in the U.S. golden visa is still very high as several similar programs in Europe have recently shut down in Spain, Ireland and the Netherlands while more were tightened amid government changes and criticism of the concept. The U.S. proposal has also supposedly received increased interest in light of Trump's threat to abolish birthright citizenship—yet another proposal marred in legal issues. Just this Thursday, a federal appeals court handed Trump a defeat in the matter, saying that the executive order on the topic was unconstitutional. Data by law firm Henley & Partners shows which golden visa or comparable schemes continue to exist for wealthy people around the world. Some of the most prolific include remaining ones inside the European Union, giving access to a Schengen visa. Countries currently offering golden visas in the EU include Italy, Portugal, Greece, Cyprus and Malta. The United Arab Emirates have also become a popular destination for wealthy immigrants and offer a similar program. As the data shows, countries in the English-speaking world, including the U.S. itself, Canada, Australia and the United Kingdom, have so far only offered more restrictive options, giving residency to certain high-profile business founders who want to start operations in critical sectors or can create a certain number of jobs. Investments Ranges Differ While types of investor visas differ, so do investment sums and how they are paid. Buying real estate is one popular option, but most golden visa countries offer several different options to secure a residence permit, including starting or investing in a business, investing in stocks or bonds locally or making a direct contribution to the government. In the EU, investment sums typically range between $250,000 and $500,000, with Latvia the outlier at just $60,000. Non-EU nations Serbia and Montenegro have been trying to get in on the southern European golden visa boom and are offering residency for any real estate purchase or if an applicant wants to start a business in the country and shell out the annual cost associated with it. Beyond Europe, investment sums can be lower starting at $50,000 in Mauritius, $100,000 in Panama and $150,000 in Costa Rica. Nations including Italy, Austria, Costa Rica, Monaco and Uruguay also allow financially independent people to live within their countries. Finally, some places including Switzerland and Thailand want immigrant investors to benefit them more directly. The Swiss visa is tied to a minimum $250,000 annual tax contribution, while Thailand charges directly for its so-called Privilege Residence Program, starting at $25,000 for five years. While the cost is low in comparison, the program is not directly tied to a permanent residency. Charted by Statista
Yahoo
10-07-2025
- Business
- Yahoo
Trump's $5 Million 'Gold Card' Visa Draws 70,000 Applicants — Foreign Investors Target American Real Estate
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. The man with the golden visa. President Donald Trump's plan to help pay down the national debt by selling the 'Trump Card' visa for $5 million each, which would secure green card privileges for those approved, has generated 70,000 signatures from interested parties. Commerce Secretary Howard Lutnick has been tasked with overseeing the 'gold card' visa, as it is also known. To facilitate the process, he has launched the website where prospective applicants can get on a waitlist by providing relevant details. Don't Miss: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." Here's , starting today. Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — The online portal displays an image of the card, which features Trump's portrait, signature, a photo of the Statue of Liberty, and a bald eagle, accompanied by the line 'The Trump Card Is Coming.' Lutnick told the Financial Times that the card would be made of gold. 'It will be beautiful,' Lutnick told the FT. 'Donald Trump appreciates these kinds of things. He cares about how it looks. He cares about how it feels. I mean, he deeply cares about that and thinks if you're going to buy and make the investment in America, we should give you something that is beautiful.' The idea for the high-priced card, according to Lutnick, came from billionaire hedge fund manager and Trump donor John Paulson as a way to help reduce the national debt. Trump embraced the idea, theorizing during a cabinet meeting in late February, 'If we sell a million [gold cards], that's $5 trillion. If we sell 10 million, which is possible ... that's $50 trillion,' Trump said. Trending: Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. . Immigration lawyers representing wealthy clients appear to concur with Trump's speculation about the card's potential demand. 'Five million dollars to these people is jet fuel cost. It means nothing to them,' Matthew Kolken, an immigration lawyer from Buffalo, New York, who represents Canadians interested in the Gold Card, told NPR. 'It allows them to potentially buy their way into the United States,' he said. 'They would just be able to throw down their Amex Black Card.' There appears to be a strong global demand, with immigration lawyers catering to their high-net-worth international clientele. 'I have one from India, one from Pakistan, and two from Egypt. And a colleague who has a few [clients] from Russia,' immigration attorney Mona Shah told NPR. Her clients are drawn to the gold card versus the green card or citizenship due to the speed of processing and its tax advantages, which allow recipients to be taxed only in the U.S. on their U.S. is a notable difference for U.S. citizens and green card holders, who must report worldwide income on a U.S. tax return and pay U.S. taxes on all their income unless the country of their original citizenship has a tax treaty with the U.S. 'The Gold card is straight out capitalism at its height,' says Shah. 'I think the founding fathers might roll over in their graves if they knew we were selling residency in this manner.' An influx of wealthy new Golden Visa holders would also be a potential boon to luxury real estate but could send U.S. house prices even higher, creating an even greater disparity gap than currently exists if other countries' similar high-priced visa plans are anything to go by. The U.S. 'would need to implement stringent regulations, such as clear limits on foreign investment in real estate, enhanced vetting processes to prevent money laundering and other illegal activities, and safeguards to ensure that the program's benefits are shared with the local population,' U.N. representative Anoussa Salim told Newsweek when the Gold Card visa was first announced. Read Next: BlackRock is calling 2025 the year of alternative assets. Image: Shutterstock This article Trump's $5 Million 'Gold Card' Visa Draws 70,000 Applicants — Foreign Investors Target American Real Estate originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
10-07-2025
- Business
- Time of India
UAE Golden Visa vs. US Trump Card 2025: What they offer and which one is right for you
UAE's golden visa covers talents across 10 categories; the U.S. Trump Card targets only ultra-rich investors./ Image generated using AI for creative and illustrative purposes TL;DR UAE offers a flexible, fast, and renewable 10-year residency visa with broad eligibility across investors, talents, entrepreneurs, and students. The Trump Gold Card is a proposed $5 million investment-based US. residency program promising permanent residence and eventual citizenship, but it is not yet officially launched. UAE's real estate investment threshold is around $545,000 with no job creation required, while the US. program requires a $5 million investment aimed at economic impact without strict project mandates. UAE's visa process is typically faster and less bureaucratic; the US. program involves complex immigration procedures and awaits legislative approval. UAE currently has no personal income tax; the US. tax structure for Gold Card holders is expected to include global income taxation, though specifics are not yet confirmed. As competition among nations for global talent and capital intensifies, the UAE and the United States have taken two starkly different approaches to long-term residency. The UAE has quietly expanded its Golden Visa into one of the most inclusive and flexible programs in the world. Meanwhile, US. President Donald Trump has proposed a high-stakes reboot of American investor immigration: the so-called 'Gold Card', or Trump Card, priced at $5 million and pitched as a fiscal fix for America's mounting debt. Which model better serves the ambitions of global investors, entrepreneurs, and professionals? 1. What each program offers? UAE Golden Visa : A 5- or 10-year renewable residence visa for investors, professionals, academics, creatives, top students, and even humanitarian workers. No sponsor required. Full freedom to live, work, and study anywhere in the UAE. Eligible applicants can include spouses, children (regardless of age), and unlimited domestic workers. You can live abroad and retain the visa. Trump's 'Gold Card' (US.) : Announced in 2025 but not yet launched, the Gold Card proposes permanent US. residency for a $5 million direct investment, not tied to any specific business or job creation mandate. Unlike the EB-5 visa, this plan emphasizes economic contribution via capital and taxes, with a pathway to eventual citizenship. Trump claims the program would help the US. reduce its deficit and create jobs indirectly. While the UAE's Golden Visa is fully operational and expanding in scope, the US. Gold Card remains conceptual, and would likely require Congressional approval. Winner: UAE - for certainty, clarity, and diversity of eligibility. US. - still under proposal and subject to legislative hurdles. 2. P roperty-based entry: Which is more accessible? UAE : Invest AED 2 million (~USD 545,000) in property — off-plan, mortgaged, or completed — from approved developers, and you qualify for a 5-year Golden Visa. Co-ownership is allowed. There is no job creation requirement , and mortgages are permitted if sourced from specific UAE banks. US. (EB-5 legacy; Trump Gold Card doesn't mandate real estate) : EB-5 requires $800,000 (in a Targeted Employment Area) or $1.05 million elsewhere, tied to a project that must create at least 10 full-time jobs. The Gold Card, in contrast, does not require investment in real estate or any project at all, the funds would go directly to the government. Winner: UAE - lower threshold, faster approvals, fewer conditions. 3. Efficiency check: who cuts through the red tape? UAE: Application can be submitted digitally via platforms like the Dubai REST App or through the General Directorate of Residency. In-principle approvals sometimes issued within 48 hours. Full process can take as little as 2–4 weeks depending on the emirate. US. Gold Card: Still under proposal. While Trump claims it would be 'faster' than EB-5, no timeline is formalized. Legal experts say it would need legislative backing, and implementation could take months, or longer, post-approval. Winner: UAE - for an existing, fully functioning process. 4. Lifestyle perks and tax burdens: Who has the edge? UAE : No personal income tax. No capital gains tax. No inheritance tax. Residents are not taxed on worldwide income. Highly developed infrastructure, safety, and air connectivity. Strong expat networks, especially for Indian and regional professionals. US. : The Gold Card proposal does not clarify tax obligations. However, US. Green Card holders are typically subject to global income taxation by the IRS. Trump's team has emphasized the tax benefits to the US., suggesting that Gold Card holders will be contributing significant tax revenue. Access to elite healthcare, education, and global markets remains a major pull. Winner: UAE - on taxation and operational clarity. US. - potentially valuable for access to institutions and business scale, but with more fiscal burden. 5. Political intention: What's the bigger picture? UAE : Originally launched in 2019 for real estate investors, the Golden Visa has evolved into a national strategy for talent retention and diversification. Now includes 10+ categories, such as scientists, doctors, engineers, elite students, content creators, humanitarian workers, and more. This marks a deliberate shift toward meritocracy and innovation. US. Trump Gold Card: Described as a revenue-generating mechanism, aimed at high-net-worth individuals who would 'pay taxes, spend money, and create jobs,' not through mandated projects, but via economic presence. Trump has framed it as part of a larger plan to reduce the national debt. However, the plan is tightly linked to Trump's political platform and could face strong scrutiny in Congress. Winner: UAE - neutral, technocratic, future-oriented. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Is it legal? How to get Internet without paying a subscription? Techno Mag Learn More Undo US. - economically ambitious, but politically entangled. 6. Family benefits and flexibility: Who gives you more freedom? UAE: Golden Visa holders can sponsor their spouses, children of any age, and unlimited domestic workers. Importantly, no minimum stay requirement, you can maintain the visa even if living abroad. Family members can remain even if the main holder passes away. US. Gold Card: Includes spouse and unmarried children under 21. Green Card holders can travel abroad, but absences over six months may invite scrutiny, and stays beyond a year can complicate residency status. Winner: UAE, for greater flexibility and peace of mind. 7. Passport power and travel freedom UAE: The Emirati passport ranks among the strongest globally, offering visa-free or visa-on-arrival access to 184 countries as of 2025. This includes the entire GCC, much of Europe (Schengen Area), Southeast Asia, and parts of South America, making it a strategic advantage for regional and global mobility. US.: The US. passport allows visa-free or visa-on-arrival access to 182 countries, covering most of Europe, the Americas, East Asia, and Oceania. It remains a powerful travel document with high global recognition and ease of movement. Winner: UAE by a narrow margin, both passports are globally respected, but the UAE edges ahead in the latest rankings. 8. Residency rights vs. Citizenship path UAE: Golden Visa is a residency-only program, there is no automatic path to citizenship, even after a decade. Emirati citizenship is rare, granted by exception, usually to extraordinary individuals. Golden Visa holders can reside and work long-term but remain foreign residents. US. Gold Card: Offers a formal pathway to US. citizenship — typically 5 years of permanent residency followed by naturalization eligibility. If approved, cardholders would have full citizen rights, including voting, US. passport, and benefits. Winner: US. - for those seeking second nationality or political participation. UAE - better for those wanting permanent base without nationality change. 9. Eligibility scope and inclusiveness UAE : The Golden Visa now covers over 10 distinct categories, from real estate investors to humanitarian workers, high-GPA students, medical professionals, engineers, content creators, and even e-sports athletes. It reflects the UAE's intent to build a knowledge economy by attracting talent across all layers of society, not just capital. US. Gold Card : Currently positioned exclusively for ultra-high-net-worth individuals with a $5 million threshold. No provisions yet for students, professionals, or talents without capital. The underlying premise is capital injection, not sectoral contribution. Winner: UAE - for broader societal integration and sectoral diversity. Final word: The UAE Golden Visa is an evolving, inclusive, and functioning residency platform, designed to attract not just capital, but global talent across sectors, with speed, tax advantages, and minimal bureaucracy. The US. Gold Card, by contrast, is a bold and untested fiscal concept. While its $5 million price tag signals exclusivity, its real value lies in access to US. institutions and eventual citizenship, if and when it becomes law. In truth, the programs aren't competing for the same person, they're serving different ambitions. The UAE is building a future-ready society. The US., through Trump's lens, is trying to bankroll its present. FAQs: Q What is a golden visa? It is a long-term residency permit for investors, professionals, or talents in a country. Q How long does it take to get residency in UAE and US? UAE residency can be granted within weeks; the US process usually takes several months to years. Q Can I work and study with these visas? Yes, both UAE golden visa and US green card allow work and study. Q Can my family join me? Both programs allow family sponsorship, but eligibility and duration vary. Q Will I have to pay taxes as a resident? UAE currently has no personal income tax; US residents are generally taxed on their worldwide income, though specifics on new visa programs remain unconfirmed.
The Independent
07-07-2025
- Business
- The Independent
The problem with Trump's $5m ‘gold card' visa
Donald Trump proposed a "Trump Card" offering a fast track to legal status for wealthy immigrants investing $5 million, with a prototype shown in April and a website launched in June. However, legal experts have expressed significant scepticism about the card's legality, asserting that the president cannot unilaterally create new visa categories or alter tax laws without an act of Congress. The initiative, which Treasury Secretary Howard Lutnick suggested could generate up to $1 trillion, aims to replace or supplement the existing EB-5 visa programme. It would controversially exempt holders from federal income tax on foreign earnings. Despite over 70,000 expressions of interest, the feasibility of the "Trump Card" is questioned due to legal hurdles and the limited pool of potential applicants, many of whom already reside in the United States.
National Post
07-07-2025
- Business
- National Post
Trump's $5-million 'gold card' visa might never happen
Article content He told the Financial Times in mid-June that 70,000 people have signed up to learn more about the card. Article content Lutnick has said the idea for the gold card came from hedge fund manager John Paulson, who spoke with Trump and Lutnick about the project. Elon Musk's U.S. DOGE Service played a key role in organizing that effort, including standing up a website that advertises 'The Trump Card Is Coming,' according to records obtained by The Washington Post and a Department of Homeland Security official familiar with the matter, who spoke on the condition of anonymity to share internal discussions. The website instructs visitors to enter their name, email address and region to 'be notified the moment access opens.' Article content In mid-April, DOGE representatives Edward Coristine and Marko Elez asked employees at DHS and the State Department to quickly set up a system that would pass gold card visa applicants' data among different parts of DHS, the records show. The data that would be transferred was sensitive, detailing applicants' names, birth dates, places of residence and other personal information, the records show. Article content The DHS team finished setting up its requested data transfer pipeline in less than a week, the employee said, then settled in to wait for applicants. But as of late June, not a single application had come along on a webpage for the visa application, which isn't public, the employee said. Article content Lutnick told Axios in late May that the website would roll out in a week, and details about the visas would come out 'over a matter of the next weeks; not months, weeks.' Article content Around the world, other countries that had once offered similar costly green cards have reversed course after controversies over granting rich people unfettered residency and the fallout from that, said Kate Hooper, a senior policy analyst for the nonpartisan Migration Policy Institute. For instance, Spain ended its golden visa after an explosion in housing prices fuelled by wealthy buyers. Article content 'There's been a bit of a backlash to that … the optics of selling citizenship and worries about due diligence,' Hooper said. Article content Hooper, who studies the gold visa programs globally, said the U.S. proposal would be the most expensive one out there if it were feasible. Wealthy foreigners who want to spend less could easily acquire a visa to several Caribbean island nations for a fraction of the cost Trump has proposed. For instance, Antigua and Barbuda requires a contribution of $230,000 to a national development fund for a visa. Article content It is also unclear how many people would be interested in pursuing a U.S. gold card. EB-5 visas, which require investments of either $800,000 or $1.05 million, creating at least 10 jobs, are allocated to 10,000 foreigners a year. The UBS Global Wealth Report for this year estimated many of the world's millionaires already live in the U.S., and there may be about 33.5 million people outside of the U.S. with at least $1 million. The report didn't specify how many of those foreign millionaires might already have legal access to the U.S. and how many have more than $5 million. Article content
