Donald Trump has unveiled the US “gold card” at a $5 million price tag, shaking global cash trade by blowing over the costs of investment link visas or citizenship in Europe, the Caribbean and the Middle East.
Due to domestic political instability or threats to property, the millionaire rank expands, and many of its members are looking for a home abroad, or many of its members expand, and many of its members are expanding. Countries have been competing attractively to expand and sell their members more.
However, this trend also surprised concerns that the so-called Golden Visa program creates security risks and provides a path to money laundering.
The president said his premium-price gold card, which gives the same rights as the green card, would attract talent and reduce national debt as applicants pay the federal government $5 million in fees.
“I think it just happens to sell like crazy. Trump said Wednesday, and he also said the gold card provides a route to US citizenship.
Lisbon, Portugal. The country requires applicants to enter 500,000 euros into the investment fund © HarunÖzalp/Anadolu/Getty Imagesmalta has given citizenship to individuals, including Russian oligarchs and politically exposed people. ©Michal Fludra/Nurphoto/Getty Images
However, he has started a scheme in the market where prices are some Lang. The cost of a Portuguese investment visa is 500,000 euros and Maltese citizenship is 650,000 euros.
It also raised concerns as he said Trump’s plan would replace the existing US program, the EB-5 visa.
According to State Department data, the United States issued more than 12,000 EB-5 visas per year until September 2024, of which 69% were sent to Chinese citizens.
“We’ve seen a lot of effort into our efforts to help people understand how we’re doing,” said Michael Wildes & Weinberg of Wildes & Weinberg, an immigration lawyer who worked with clients, including Melania Trump. ”
He calls the gold card proposal a “marketing ploy,” and says: “The numbers don’t have to be $5 million. Not everything is good.”
Other lawyers include EB-5 and other VISA-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for-for Like the -for-for-for-for-visas scheme, I pointed out that I would pay $5 million because it is much less attractive than investing in assets that generate returns.
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Trump has appointed Apple as a company willing to pay to hire immigrant employees, the “number one in the top school class.” He was asked if the card was available to Russian oligarchs, he said: “Maybe. Hey, I know of Russian oligarchs who are very nice people.”
People on the US sanctions list will be banned from the scheme, but Nuno Cunya Barnabe, a lawyer who advises Portugal’s golden visas, said:
The UK abolished the Golden Visa Scheme in 2022 as part of its crackdown on dirty money. The UK programme required applicants to invest £2 million to settle in the country, but was particularly appealing to wealthy Chinese and Russian investors.
Trump’s price tag is closest to New Zealand’s Golden Visa Scheme, with NZ $5 million (US$2.9 million) investments coming directly into the country’s business or $10 million in low-risk investments after it was announced this month. I need it.
Along with China, billionaires from other emerging markets, including India, Pakistan, Turkey and South Africa, are actively working in the global hunt for VISA’s cash programme. But it’s also noticeable that Brits are looking for post-Brexit options.
Immigration advisors also report a steady stream of Americans seeking replacements in their country with a new increase sparked by some alarms of US citizens over Trump’s second presidency.
But even if they leave, there are compelling reasons why others want to go to the US, said Dominic Borek, director of private clients at Henry & Partners, who helped design the European and Caribbean citizenship program.
“It’s still a wonderful country for the creation of wealth and preservation of wealth,” Borek said. “In countries like China and India, the opportunity to create wealth is second to none. But once you reach a certain level of wealth, what’s a little more challenging is preservation.”
The EU has been a popular destination for Golden Visas despite strengthening rules for several schemes over the past two years. In April, Spain will close its Golden Visa Program. The Golden Visa Program allowed 14,500 people to reside between 2013 and early 2024. Most of them are Chinese and Russian.
Portugal has removed the option to invest in real estate and instead requires applicants to put 500,000 euros in the investment fund, but the application continues.
The Italian scheme, called the “Dolce Vita” visa, is linked to an investment of at least 250,000 euros. A similar Greek program requires an investment of at least 800,000 euros in popular local property.
EU countries trading cash for citizenship have sparked more controversy. The chief among them is Malta. Malta is the only member state that sells passports after the European Commission abolished the programme in Bulgaria and Cyprus.
Malta has given citizenship to individuals, including Russian oligarchs and politically exposed people, and the committee has challenged the plan in court.
Brussels’ argument is based not on the nature of the individual who took up visas, but on the claim that citizenship should be based on “real connections” with the country, rather than payments or investments. .
Antigua, a Caribbean island. There you can get citizenship for $230,000 ©irstone/dreamstime.
The Caribbean is another Cash Four Cities Ship Hub with programs from Grenada, Antigua, Barbuda, Saint Lucia, Dominica, St. Kitts and Nevis. Their main attraction is not sunny island life, but the fact that citizenship, in some cases, includes the Schengen zone of Europe, brings visa-free or visa arrival trips to over 100 countries.
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The European Commission has introduced a mechanism to halt visa-free travel from countries that it considers programmes to be dangerous. Late last year, the EU cancelled visa-free trips for citizens of Vanuatu’s Pacific Archipelago.
Trump hopes to start selling gold cards, which are likened to “Green Card Plus,” in about two weeks. On Wednesday, he added: “I think that’s going to be very important.”
Additional reports by Steph Chavez of Washington, Amy Cazmin of Rome, and Eleni Valvizioti of Athens. Data visualization with Martin Stabe
