Trump Says Will Sell 'Gold' Residency Permits For $5 Million

[Martin Everson]

This is where the‍ devil in the detail matters. Until we see the text of the program and its⁠ legality and survivability are assessed the jury is out. Just hope this move spurs more⁤ countries to start their own golden visa program just like COVID spurred 50+ countries to⁣ create nomad/remote worker programs.

P.S Expect EU to now push for citizenship based taxation. France⁢ has already got this is motion before Trump's announcement 🙁

https://www.imidaily.com/europe/fre...ming-to-introduce-citizenship-based-taxation/

--- quote start

France’s Finance︀ Committee has adopted an amendment to establish a “targeted universal tax” requiring French citizens living︁ in countries with lower tax rates to continue paying taxes to France.

The proposed system︂ will require French nationals who lived in France for at least three years within the︃ decade before relocating to pay taxes equivalent to their hypothetical French tax burden.

To prevent︄ double taxation, the amendment outlines a tax credit mechanism for French citizens living abroad. Under︅ this framework,they must pay taxes equivalent to what they would owe in France but receive︆ a credit matching any taxes already paid in their country of residence.

--- quote end︇

 

[Alonzo]

It got rejected in parliament but this is a warning sign to renounce‌ French citizenship ASAP

 

[Mercury]

This amendment has‍ not been approved.

 

[ilke]

Has not does not‌ mean will not.

 

[Mercury]

France is one‌ of the most (if not the most) taxed country in the world. I don't think‍ the French elite and HNWI diaspora who have structured themselves not to be FR tax⁠ resident will let this tax on passport happening, or if bringing new legal tax loopholes.⁤

Being part of EU involves a coherent tax framework so that all member countries would⁣ have to adopt tax on citizenship, I think EU will fail before this happens.

 

[Houdini]

second that.

 

[Martin Everson]

Yes because they literally have research labs such as EU‍ TAX Observatory hosted by the Paris School of Economic thinking up new ways to screw⁠ over anyone with money. While the rich figure out new ways to avoid it 🙄

Coordinated minimum effective taxation standard for ultra-high-net-worth individuals​

https://www.taxobservatory.eu/publi...tandard-for-ultra-high-net-worth-individuals/

It may make Trumps America attractive to⁤ some UHNW families. I can even imagine the ex-British Prime Minister Rishi Sunak taking up⁣ the golden visa scheme. It has long been rumored he wants to return to America⁢ 😉

 

[Dreamy]

I think he's just a fucking genius! Instead of attracting rapists and murderers and sponsoring‌ them with benefits, like Europe does, he decided to attract the rich and successful. Very‍ smart, respect!

 

[HardRJones]

I now suspect this visa change will actually be included in the upcoming reconciliation bill‌ that will also include the tax law changes, and will be used with favorable assumptions‍ for computing baseline changes which will allow more tax provisions to be squeezed into the⁠ bill. Bills passed via reconciliation must be scored budget neutral over ten year time frame⁤ which leads to a lot of creative accounting. That sidesteps the issue of the ability⁣ of the executive branch to create it. It still remains to be seen what it⁢ will actually look like, but if my suspicion is correct then we should find out︀ this summer.

 

[LegitBananas]

Does anybody know if this is just raising the requirement for the EB-5 Visa or‌ will this be an entirely separate visa altogether?

If the EB-5 visa remains and the‍ requirement is $800K and some jobs created, its still more attractive than this 'golden visa'⁠ route.

 

[Armani]

There already were investments visa in the USA.⁠
This will be a giant money laundering scheme, like the Golden visa in europe.

 

[luap]

Unless you have a hell of a lot more⁤ than $5m and would benefit from the proposed exclusion on taxation on non-US assets.

 

[JackAlabama]

donald pump or howard mentioned this being axed.

 

[Martin Everson]

Trump said from his own mouth in video below⁤ that this new golden visa will replace EB-5.

P.S We can't believe everything he says but he︁ stated it will....lol

 

[bibing]

Why does Trump has a need to start a scam on a daily basis?

 

[daniels27]

It is called marketing. Just keep the top position in every‍ newspaper globably daily.

 

[LFGC]

More ultra low level blather for Trump's constituents which are mostly work boot wearing hicks‌ that live in fly over states and millennials and gen Z's that were manipulated by‍ his theatrics. Both are asset poor, except for the oligarchs in his inner circle. Not⁠ one person anywhere in the world, with or without proper advice, would aqquire a US⁤ green card or citizenship for $5m yet alone for free to be subjugated to a⁣ literal tax jail. A vast majority of Silicon Valley immigrant founders (82% of US tech⁢ founders are immigrants) also avoid both like the plague.

 

[burgerin]

with those tariffs, you arent going to make any business outside the US

 

[burgerin]

if you only knew

 

[burgerin]

just buisness