Introduction

In February 2025, President Donald Trump announced his intention to introduce the American Golden Visa Programme, also known as the Trump Gold Card Visa. This initiative aims to replace the EB-5 Immigrant Investor Programme, which has been in place for over three decades, and provides a more straightforward and quicker route to U.S. residency for affluent individuals.

The Golden Visa Programme will grant immediate permanent residency in return for a $5 million direct payment to the U.S. government. Unlike the EB-5 visa, which demands investments in job-creating businesses, this new programme intends to eliminate business and employment requirements.

Since 1990, the EB-5 visa has served as a popular pathway for affluent foreigners seeking permanent residency in the U.S. The programme requires investors to:

• Invest between $800,000 and $1,050,000 in a U.S. business.
• Create or preserve at least 10 full-time jobs.
• Actively manage the investment.

While this programme has contributed to the U.S. economy, it also presents significant issues, including:

• Long processing times, sometimes exceeding 10 years.
• Complex bureaucracy and legal hurdles.
• Instances of fraud and mismanagement in investment projects.
• High financial risk, as success depends on business performance.

To address these inefficiencies, the Trump administration intends to introduce the Golden Visa Programme as a more streamlined alternative.

Key Features of the American Golden Visa Programme

1. $5 Million Direct Investment

• Instead of investing in businesses, applicants make a one-off, non-refundable payment to the U.S. Treasury.
• These funds will be allocated for infrastructure projects, government programmes, and national debt reduction.

2. No Business or Job Creation Requirement

• Investors are not obliged to start or manage a business.
• There is no requirement to employ U.S. workers, making the process much more straightforward and risk-free.

3. Immediate Permanent Residency

• Successful applicants and their families (spouse and children under 21) receive U.S. green cards straight away.

4. No Work or Residency Restrictions

• Golden Visa holders may live, work, or retire anywhere in the U.S. without requiring a job offer.

5. Pathway to Citizenship

• After five years of continuous residency, Golden Visa holders can apply for U.S. citizenship.

6. Potential Tax Benefits

• Reports suggest that Golden Visa holders may be taxed solely on U.S.-sourced income, exempting foreign earnings from U.S. taxation.

7. Fast-Tracked Application Processing

• The U.S. government prioritises Golden Visa applications, reducing processing times compared to other investor visas.

Tax Implications for Golden Visa Holders

One of the main concerns for foreign investors is taxation in the U.S. The United States generally taxes all green card holders on their global income; however, the Golden Visa might offer an exemption.

1. Limited Taxation on U.S. Income Only: Reports suggest that Golden Visa holders might not be liable for U.S. taxation on their foreign income, only on profits from U.S. investments and businesses.
2. No Global Tax Compliance Requirements: Unlike regular green card holders, recipients of the Golden Visa may not be required to report foreign bank accounts (FBAR requirements).

Challenges and Criticism of the American Golden Visa

Despite its benefits, the American Golden Visa encounters several criticisms and challenges:

1. High Cost: At $5 million, the investment requirement is significantly higher than most other investor visa schemes worldwide.
2. Tax Loophole Concerns: Critics contend that exempting Golden Visa holders from global taxation may foster tax avoidance opportunities, especially for ultra-high-net-worth individuals.

Conclusion: What’s Next for the American Golden Visa

The American Golden Visa Programme 2025 represents a significant shift in U.S. immigration policy, focusing on affluent individuals rather than business developers. Although it provides a simplified pathway to U.S. residency and potential tax advantages, uncertainties remain regarding its tax treatment, economic impact, and public acceptance. As the U.S. government finalises the Golden Visa regulations, prospective applicants should closely monitor updates, consult immigration lawyers, and carefully assess tax implications before applying.