Trump’s “Gold Visa” Includes Tax Break For Oligarchs

February 28, 2025 Trump Corruption, Trump Lies

President Donald Trump’s proposed $5 million “gold card” for U.S. residency would be one the most expensive in the world, according to experts. Yet it also includes a tax loophole that would give the new-card holders a lucrative benefit not available to American citizens, experts say.

Currently, U.S. citizens, permanent residents, and green-card holders are required to pay income tax on their U.S. earnings as well as any income they earn overseas, including in their home country. Trump said gold-card holders would not be subject to taxes on their overseas income. The provision means that gold-card residents will be able to purchase a tax benefit not available to U.S. citizens.

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Trump “gold card” immigration idea is an even better deal for foreign oligarchs than it looks, because it comes with a huge tax loophole not available to US citizens or other immigrants. https://t.co/Qo5YHc0LIZ pic.twitter.com/H1VOO4RUm5

— David Frum (@davidfrum) February 28, 2025