The nature of the Trump Gold Card changed. What are the new categories?
The nature of the Trump Gold Card changed. What are the new categories? Please elaborate on the $1 million, $2 million, and $5 million versions. Thank you.
Answers
You are absolutely correct. There was one $ 5 million donation-based Gold card announced in February of this year, which Trump rebranded as the Platinum card. The Platinum green card holder must reside in the US for no more than 270 days a year to be exempt from global tax, i.e., from the obligation to pay US taxes on non-US income. The $1 million Gold Card and the $2 million Gold Card donation options do not provide any tax benefits. They are simple green cards. One is for the individual to donate, and the other is for the company to donate on behalf of the individual they are sponsoring. We do not know if dependents are eligible to get a green card as well. More importantly, we do not know when the program will be effective, if at all. There is disagreement among immigration attorneys about whether this would require new legislation or if a Presidential Proclamation issued through executive action would be sufficient. There is a website to sign up for further information, but as of this writing, there are no tangible specifics. There is speculation that the government will use EB-1 and EB-2 categories, rather than EB-5. If that occurs, because of retrogression in those categories, Indian and Chinese-born applicants would see little benefit.
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