One of the key attractions of the “Gold Card” is its tax benefits. Only income earned within the U.S. is taxable, while foreign-earned income remains untaxed, making it especially appealing to wealthy individuals from high-tax countries who wish to safeguard their overseas wealth while enjoying the privileges of living and doing business in the US. Unlike US citizens, those who have residency don’t have to pay global tax.
Lutnick mentioned that research indicates around 37 million people globally could afford the “Gold Card”, and President Trump believes the programme could sell up to one million cards, generating substantial revenue for the US government. The funds raised are expected to help reduce the US fiscal deficit and national debt.
The initial success of the programme, with 1,000 cards sold in one day and $5 billion generated, indicates its potential to reshape US residency and citizenship opportunities, the US administration believes.
Trump emphasised there will be no cap on the number of cards sold, allowing for unlimited growth and making the “Gold Card” a promising new avenue for funding US government needs.
