I have received many inquiries about whether the new Gold Card visa program is available for investment. I want to clearly state that it is not yet available. Donoso & Partners will be informing our clients and interested investors on the availability of this new program as soon as it is confirmed.
The focus of this blog is to concisely summarize the information that we know so far about the proposed new Gold Card program and to flag key questions to track in the coming months.
1. Residency-By-Investment
The new Gold Card program will resemble today’s EB-5 visa program in the sense that they are both residency-by-investment programs.
2. Minimum Investment
US$5,000,000 will be the minimum investment amount required to qualify as a Gold Card investor.
3. Background Checks
Gold Card applicants will be subject to background vetting and normal visa admissibility procedures.
4. Tax Benefits
Gold Card holders will receive exemption from U.S. taxation on global income. They will remain subject to U.S. income tax on U.S.-sourced income.
5. Key Questions to Follow-Up
Features that have been mentioned, but are not yet clear, include:
- There may be a job-creation requirement.
- Some or all of the investment funds may be paid directly to the U.S. government to reduce U.S. deficits.
- Gold Card investors will be granted U.S. residency without a conditional residency period (unlike today’s EB-5 program).
- It is likely that Gold Card applicants will receive fast-track processing.
- It is rumored (but far from certain) that Gold Card investors may be able to purchase real estate in the U.S. to qualify in whole or in part for the Gold Card visa.
We will need to wait for more details from the White House and the U.S. Congress.
Implementation of a new visa program requires passage of new legislation that must be approved by both the upper and lower legislative chambers of the U.S. Congress (Senate and House of Representatives) and then signed by the President. This is a lengthy process that may take months to complete.
6. Too Early to Invest: Watch Out for Scams!
In the meantime:
- It is too soon to invest in any purported Gold Card investment opportunity.
- Watch Out for Scams!
- There are no Gold Card investments available presently (none at all, anywhere in the world, full-stop).