Washington: US President Donald Trump has launched a new ‘Gold Card’ program for foreigners wishing to live in the US as well as the biggest action on illegal migrants. Trump’s Golden Visa received a tremendous response. An official of the Trump administration has claimed that the scheme has been a super hit. The Trump administration has sold 1,000 gold cards in just 24 hours.
Under the Gold Card Scheme launched by US President Donald Trump, permanent residence and alternative citizenship are offered in the US at a fee of $ 5 million (about Rs 43 crore). Commerce Secretary Harvard Lutenik said that 1,000 gold cards were sold in a single day under the scheme, giving the government a total revenue of $ 5 billion (about Rs 43,000 crore). Lutnik gave this information in the all-in podcast.
Indeed, Donald Trump announced the introduction of a new ‘Gold Card Trump Citizenship Program’ to provide American citizenship to rich people around the world. The program offers the rich people around the world to give money directly to buy American citizenship. The Trump administration claimed that the scheme would be implemented by April 2025.
According to Lutnik, this program will start in two weeks. Alan Musk is currently making software for this. Well, I sold 1,000 cards tomorrow. There are 37 million people in the world who can buy this card. President Trump believes that we can sell such a million cards.
Lutnik said that Trump came to the meeting with investor John Paulson. He was then tasked to find a way to execute the program. The Gold Card will replace the old green card and provide a permanent residence in the US. This cardholder will be allowed to live in the US forever and people will also have the option to take American citizenship.
However, Lutnik believes that most people will avoid citizenship due to tax rules. Gold card holders will only have to pay taxes on the income earned from the US. There will be no tax on income earned abroad. Trump believes that the sale of gold card will incur US dollars or about Rs 1,000 crore. This will provide revenue of 4.3 lakh crore rupees. This amount will help reduce US national debt and fiscal deficit. The program is part of Trump’s US First Policy.
