Earlier this year, President Donald Trump proposed a “Gold Card” initiative. The plan offers foreigners U.S. permanent residency and a path to citizenship for $5 million. In a March 4 speech, Trump said the plan aims to attract top talent and “the most successful job-creating people” worldwide. Trump added, “These people will have to pay tax in our country.” However, the new cardholders won’t have to pay tax on their income outside the United States, something U.S. citizens, permanent residents and green card holders are required to do. Trump said, “You wouldn’t want to do that.” At this time, some details of the proposal are unclear, including when it might begin. Stay tuned.
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