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CNBC
CNBC
3w ago 36 views

The global wealthy are lining up for Trump's $1 million Gold Card after price cut

President Trump has reduced the price of his Gold Card immigration plan from $5 million to $1 million, attracting interest from wealthy individuals worldwide.
The global wealthy are lining up for Trump's $1 million Gold Card after price cut
A What happened
President Donald Trump has introduced the Gold Card immigration plan, slashing its price from $5 million to $1 million, making it one of the most attractive golden visa options globally. The Gold Card promises expedited residency, appealing to wealthy individuals seeking access to U.S. education, healthcare, and financial systems. With 80,000 cards planned for issuance, the program could raise $100 billion in federal revenue. However, it faces potential legal challenges and significant backlogs for applicants from China and India, which may deter interest. The Gold Card's non-refundable fee and U.S. taxation policies could also impact its attractiveness compared to other countries' visa programs. Despite these challenges, demand is expected to surge, particularly from Asia, the U.K., and Latin America.

Key insights

  • 1

    Increased Demand

    The reduced price has sparked significant interest among wealthy individuals globally.

  • 2

    Legal Challenges Ahead

    The Gold Card may face legal scrutiny and potential Congressional challenges.

  • 3

    Backlogs for Applicants

    Chinese and Indian applicants may encounter long wait times due to existing backlogs.

Takeaways

The Gold Card immigration plan presents both opportunities and challenges for wealthy individuals seeking U.S. residency.

Read the full article on CNBC