Last week, US President Donald Trump signed an executive order officially launching a plan to sell "golden residency cards", with a fee of 1 million USD (down from the 5 million USD price when the idea was proposed) and a commitment to grant residency rights "in record time".
“The Gold Card is incredibly cheap,” said Reaz Jafri, a lawyer at Withers. “You get access to the US education system, healthcare, banking and financial markets, all for just $1 million. For many families, that’s a very small amount. I think they should have kept it at $5 million to make it more exclusive,” he added.
According to analysts, the $1 million price tag makes the “golden residence card” a more competitive option than many other countries. For example, Singapore requires nearly $8 million, New Zealand about $3 million, and Samoa also about $1.4 million.
Commerce Secretary Howard Lutnick said the government plans to issue 80,000 gold cards. Combined with the potential for platinum cards and the increase in the H-1B visa fee to $100,000, the program is estimated to bring in $100 billion to the federal budget.
"Yellow settlement card" was announced on April 4 (Photo: Reuters).
However, those interested are still unable to apply for this "golden residence card" due to legal issues. "These types of programs usually take time to operate," said Dominic Volek, an expert at Henley & Partners, adding that no one wants to be the first to test the gold card. Most customers want to see the program operate for 3-6 months and monitor the results before spending.
He predicted that the program would receive 5,000-10,000 applications per year if it operated stably.
In addition to the gold tier mentioned above, the program’s information page also mentions a platinum tier with a price tag of $5 million and additional tax incentives. However, the platinum tier does not appear in the new executive order signed by Mr. Trump and was not mentioned in the press conference.
The Platinum Card promises to allow holders to stay in the US 270 days/year without paying tax on foreign income.
Observers say the platinum card is aimed at ultra-rich individuals, such as billionaires from Asia or the Middle East, who want to be in the US but not be taxed on their global income. The visa may be more attractive to those who already have large businesses and want to protect their assets from high taxes.
However, expert David Lesperance said this card class will not sell well because it does not lead to a green card and the benefits do not match the $5 million price tag.
The gold card is considered a suitable product for children of the rich who want to study abroad and find job opportunities in the US. “Many children of billionaires do not want to run the family business but want to become architects, doctors or engineers and have normal jobs,” said Mr. Jafri, emphasizing that at that time the “golden card settlement” policy was very attractive.
In a volatile global visa market due to geopolitical instability, wars and political tensions, the demand for visa programs is on the rise.
According to a report from New World Wealth and Henley & Partners, 142,000 millionaires are expected to move to another country so far this year, with the US being one of the top destinations. About 7,500 millionaires are expected to move to the US this year, with the majority coming from Asia, the UK and Latin America.
Source: https://dantri.com.vn/kinh-doanh/my-giam-gia-the-vang-dinh-cu-xuong-1-trieu-usd-thi-truong-visa-chao-dao-20250929211127951.htm
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