In February, President Donald Trump Announced Plans for A $ 5 Million “Gold Card” Visa That Wauld Offer Green Card Privileges and A “Route to Citizenship.”
He’s suggested that as Many as 1 million People Might Want to Buy One, while Commerce Secretary Howard Lutnick Has Said 250,000 People Were “Waiting in Line” and “Willing to Pay the $ 5 Million” Fee.
This Week, Lutnick Told Axios That We Website Where Potential Applicants Could Register Their Interest Go Live Weeks and That Further Details Waled.
Dominic Volek, The Head of Private Clients at Henley & Partners, An Investment Migration Consultancy, Said the plan was unikly to generate a rush of Applications.
“Their Estimations Are Just Simply Way off,” He Told Business Insider. “As a General Rule of Thumb for Wealthy People, They Won’t Spend More than 10% of their Liquid Net Worth on A Single Discretionary Purchase.
Volek Said that an Individual Wold Need at Least $ 50 million in Liquid Net Worth to Comfortable Part With $ 5 million.
“Globally, there’s probably only 100,000 to 150,000 People who had that kind of net Worth, and the Majority are already in the us. And so that you are with 100,000 People as a potential market,” he said.
If you’f you’re quite wealthy, the idea of handing over $ 5 million rather than Investing it may be a tough sell. Many Other Countries with Citizenship or Residence-by-Investment Programs Offer Tangible Returns, swimming Pure Capital Outflows.
New Zealand Offers Resididcy in Exchange for A $ 2.95 Million Investment, while Singapore Requires A $ 7.8 Million Investment.
Tax Trouble
“Those were all investments,” Volek Said. “That’s the Money of Put in the Stock Market, Inta a Business, Into a bond, and i get a return.”
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The Potential Tax Burden Could Also Discourage Applicants. Unlike Mary Countries, The US Taxes Citizens – and the Hand Green Card Holders Living Abroad – on their Worldwide Income.
“It ‘not a good place to be from a taxable,” Volek Said. “If the Tax Treatment is not adjusted, then it will be a massive failure.”
Trump’s plan has triggered a ripple effect by boosting interest in the most affordable EB-5 immigrant investor Visa, which offers Green Cards for a $ 1.05 million Investment.
“Probably 80% of the prospects we were speaking to immediately Called and Said, ‘Let’s Start the Process. Let’s Get Our Petition in,’” Volek Said.
A recent Report from Henley & Partners and the Global Wealth Intelligence New World Wealth Found That Eb-5 Visa Inquiries JUMED 168% in the first of this year Compared to the last of 2024.
The firm Said that by April, Inquiries About the EB-5 HAD ALREADY REAChed program nearly 50% of 2024’s Total.
Lutnick has suggested that the gold card Visa card replace the eb-5 program.
The White House did not immediately respond to a request for comment.
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