Washington, D.C. – U.S. President Donald Trump’s highly debated ‘Gold Card’ residency scheme has garnered overwhelming interest, with a reported 1,000 cards sold in just one day, generating a staggering $5 billion in revenue. The program, which offers permanent U.S. residency and the option of citizenship for a price of $5 million per card, is set to officially launch in approximately two weeks.
U.S. Commerce Secretary Howard Lutnick shared the news on the All-In Podcast, highlighting the immediate success of the initiative. He explained that the program is particularly attractive because Gold Card holders are not subject to global taxation, unlike U.S. citizens who pay taxes on worldwide income. “Gold Card holders can live in the U.S. indefinitely without paying taxes on foreign earnings. They can opt for citizenship, but most won’t to avoid global tax obligations,” Lutnick clarified.
The program is specifically designed for high-net-worth individuals, with strict vetting procedures to ensure applicants are law-abiding. The U.S. government retains the right to revoke the status of holders in cases of illegal activity. Lutnick estimates that approximately 37 million people globally have the financial means to purchase a Gold Card, and Trump’s team believes they can sell up to one million cards, which would significantly boost the nation’s fiscal revenues.
Read more: Trump Launches App for Illegal Immigrants to Avoid Arrest
There is no cap on the number of Gold Cards to be issued annually, making this program potentially one of the most profitable residency schemes worldwide. The revenue generated is expected to help address the U.S. fiscal deficit, further solidifying the program’s appeal as a financial tool for both the government and wealthy individuals looking for exclusive residency options in the U.S.
Comments are closed, but trackbacks and pingbacks are open.