Who Really Needs a 5-Million-Dollar Green Card? Trump’s Plans for a New Residency Program

Historically, the United States has been a coveted destination for those seeking new opportunities. Since colonial times, the country has been receiving people who came to work hard and build a nation. 

In our days, two things are happening: on the one hand, immigration has been restricted, and most need a visa only to set foot on American soil. On the other hand, there are modern programs to obtain residency in US, as well as in other countries, allowing for easier relocation. 

Green Card In Usa: A Dream for Many, a Reality for a Few

Residency in US

Everyone who's looking to live the American dream, and to settle in a secure place with a stable economy, wants a green card in USA. This dream is possible for businesspeople who are willing to invest in local businesses.

The EB5 visa, for example, grants residency to those who invest $1,000,000 in a local business that creates at least 10 full-time job positions. There's also an option called the E2 visa. Unlike the previous one, this is not considered to provide residency in US. Instead, it is a nonimmigrant visa that requires a “substantial investment”. In simple words, the minimum amount is not stipulated. 

To apply for the E2 visa, individuals must come from countries that have the corresponding treaty, for example, Grenada, which, by the way, also has an economic migration program. That is, if you're a citizen of Grenada, you can invest in the US economy, enter and exit the country as you please, but you won't be able to apply for US residency and eventually citizenship. 

A New Way To Apply For Us Residency

In this context, new opportunities may be opening up since President Trump announced a possible 5-million-dollar green card, more precisely, the Gold Card, as he named it. Naturally, the program would target a very specific niche of ultra-high net worth individuals, and the conditions would be different than those found in its predecessors.

Nothing is confirmed yet. All we have is President Trump's intentions, a feeble scheme about this 5-million-dollar green card, and what it would mean to apply for US residency under it. There's already a domain of an official government site presenting this new gold card, nevertheless, it has yet to be confirmed. While some argue that this law must be passed through and approved by Congress, the head of state assures that this isn't necessarily so because it won’t provide citizenship, but permanent residency in US.

What Does It Mean To Apply For US Residency Under the Gold Card?

According to different sources, the program will consist of a $5,000,000 donation in exchange for which investors will get residency in US. Rumors are saying that it will include VIP benefits for these residents and that they will only be taxed on their US income. 

Contact our experts

Gold Card for Residency In US: A Problem or a Solution?

President Trump has shown optimism when it comes to his 5-million-dollar green card plan. The president estimates they will sell one million of these, which would raise a significant amount of money. He hopes that this will help reduce the country's national debt and pay the public deficit. Also, the new residents would spend money in the country, boost the economy, pay taxes, and create new job positions.

The experts, however, are not that optimistic. First of all, the program proposes a $5,000,000 donation, not an investment, which means applicants won't see any returns. In exchange, they obtain only residency, whereas in other countries, like Saint Lucia, they can obtain citizenship for roughly a couple of hundred thousand dollars. 

Caribbean countries and Vanuatu offer excellent programs in small countries with no social tension or political turmoil, with tranquil environment and laid-back Caribbean living. So why does anyone need a green card in USA, a country that is known for its ominous taxation policies, and that is constantly involved in warlike conflicts? Experts estimate there will be a couple of thousand applications at best, and not one million people who apply for US residency, as suggested by Trump.

What Are the Options

We don't know if the gold card will ever be approved and applied, but we do know that today there are plenty of alternatives that could be far better than residency in US. In Panama, for instance, you don't need a $5,000,000 investment. 

Our favorite option here is the Qualified Investor Visa through real estate with a minimum investment of 300,000 dollars. If you don't want to go through all the hassle of finding and maintaining a property, then there are perfectly good options, like investing in the national stock market for $500,000. Even Panama’s most expensive option of $750,000 for a fixed deposit investment is way more convenient than Trump's 5-million-dollar green card. We're talking about a country with a lower cost of living, territorial taxation, and high real estate and living standards. 

Disclaimer: this article doesn't take a position on Trump's plans to establish a 5 million dollar residency in US. Moreover, this article has been written based on general research; hence, it doesn't constitute legal, investment, or migration advice. Before applying for residency or citizenship by investment, make sure to consult with certified professionals.

Don't Apply for US Residency: Choose Panama Instead

If the option to apply for US residency through a gold card becomes a reality, this shoe will probably fit many people, but not all. In the meantime, Mundo can help you obtain Panama residency or citizenship by investment in the five Caribbean countries and Vanuatu. 

Mundo is an online publication focused on investment migration, relocation, expat living, corporate and banking services, trusts, real estate, and investments in general. Contact our experts if you want to set up any of these structures or leverage any of these tools. We are in contact with reliable partners and can help you achieve your goals safely and optimally.

Write us a message