Trump’s Proposed 'Gold Card' Visa Comes With a Hidden Tax Break for the Wealthy
President Donald Trump's proposed $5 million "gold card" visa for U.S. residency is set to be one of the most expensive globally while offering a significant tax advantage for its holders by exempting them from taxes on overseas income. This initiative aims to attract high-net-worth individuals and transform the U.S. residency landscape, potentially creating a dual tax system that could favor wealthy migrants over American citizens. As demand for such residency options rises, experts predict that it may shift the dynamics of investment migration and influence where the ultra-wealthy choose to establish their residence.
- The introduction of the gold card visa highlights the widening economic gap and raises questions about fairness in tax policy, as it offers exclusive benefits to wealthy individuals while ordinary citizens face stricter tax obligations.
- How might the establishment of this visa program reshape the competitive landscape of global residency options for wealthy individuals?