President Donald Trump signed an executive order directing the Departments of Commerce, State and Homeland Security to design a 'Trump Gold Card' program within 90 days that would grant residency to individuals who pay $1 million to the U.S. Treasury. Corporations could sponsor individuals for $2 million, and Homeland Security vetting could be expedited for a $15,000 fee. Commerce Secretary Howard Lutnick said the gold visa program would replace other employment-based paths to permanent residency in about a month, though the EB-5 investment program was not specifically mentioned. A separate $5 million 'Platinum' card would exempt applicants from U.S. tax on global income after a 270-day stay. Legal and EB-5 specialists expressed surprise, and some predicted the gold card could stimulate further interest in EB-5 investment routes.
""Nobody had a clue [about] what's going on," said Ronald Feldstein, partner at the Saul Ewing law firm who has been advising clients on the EB-5 program since 2009. "At 5 o'clock or something they posted a blog and people picked it up.""
""It's going to stimulate EB-5, that's what i think it's going to do," he told the Sun Sentinel on Saturday. "They're both going to be popular.""
Read at Sun Sentinel
Unable to calculate read time
Collection
[
|
...
]