Many countries have an investment requirement to buy permanent residency. As long as there is due diligence. Letting triads and other cartel folks buy permanent residency would be a bad idea.
Exactly. Canada has a business investment plan which leads to landed immigrant status. The only difference is that the minimum required investment is/was around 500k.
Biden was letting cannibals and axe murders into the country free-of-charge. If Trump can charge foreign billionaires $5 million for each member of their family that wants to hang in the Hamptons or South Beach, then that's a radical change from what we've had these past four years. Go for it!
I had an immediate negative reaction to it, but the more I thought about it, the more I like it. Here are my reasons that closely align with the bullet points you already laid out:
1. Less opportunity for fraud. EB5 required tracking, specific investment thresholds, etc. This just says, “pay $5million and you get residency.” Any investment and/or jobs are directly tied to the visa itself.
2. Less people will use it than the EB5. While you saw this as a negative, I see it as getting individuals who are INVESTED in the U.S. and not just INVESTING with a golden parachute.
3. I think it has the potential to also replace the H1N visas. If companies are so determined that have to have *special* people with special skills to work for their company, then they can pay the $5mil on behave of that person. Has potential to eliminate fraud in that program as well.
4. Eliminates the lottery system that does not reward or prioritize the type of skills we need.
What happens to a program like this when dems are back in charge? It seems that this can be corrupted easily. Why does a path to citizenship have to be incorporated?
No vetting, no gold card. But in practice as you say, very few will be able to take advantage of this program. The last thing we need is 1,000 CCP agents getting gold cards every year.
I honestly don't get this. Since when does wealth equate to intelligence, creativity, worthiness, fortitude, or any number of adjectives if the purpose of this program is inviting the best and brightest to become American citizens? Does this mean ordinary people with extraordinary abilities and ideas can't make better citizens? Nonsense.
I don’t think citizenship should be for sale. Also, what if these “citizens “ start huge land acquisitions? Besides vetting them as closely as possible or placing certain restrictions on their “citizenship “, there is nothing to prevent them from buying property around military bases, etc.
I think analyzing how other countries are doing this and having proper controls and goals, this may be a good program. But there needs to be a lot of thought put into vetting the candidates for source of current and future funds, ideology, reasons for applying for the visa, etc. and learning from the mistakes of other countries. And this program should be reevaluated and reauthorized on periodic schedule to ensure that it's not being abused by other countries or people/organizations outside or inside the US. The proceeds should be earmarked for immigration-related efforts such as assimilation courses. The entire EB-5 program should also be revamped to eliminate the abuses because if that can't be done then there won't be trust in the gold-card version. Finally, the needs of current US citizens should always outweigh any of these programs--a consideration that is obviously currently lacking in the US and Europe.
My first reaction was that this seems like the citizenship by investment programs that many small nations have, like Portugal, Dominica, and Bermuda. But Bermuda and Dominica have these programs as a method of encouraging investment and a reduction of other taxes. But if a foreigner were to sign up for this, he would be committing himself to a lifetime of potential harassment by our IRS. Or would this type of investor be entitled to reduce his income taxes for the rest of his life? I don't think that has been addressed by the Golden Visa program.
Stupid and won’t hold up in court and it reeks of elitism! Trump has to refrain from being too much of an asshole. I do like it when he trolls….but way overboard!
It’s a great idea and the trump people will run it flawlessly..and individuals won’t pay, the corporates will pick the cream of the crop and pay up. Nothing for them. This is what TRUMP does thinking outside the idiot box…
The bad: “…no guarantee that a mechanism will be created to use the revenue from the “gold card” program to pay down the debt…” fully agree with you on this one. But it’s just as likely the revenue would be used to pay for current expenses so we’d need smaller budget (and deficit). Example suppose each $5 million payment was used to partially fund FAA operations? No conflict of interest there. I wouldn’t use it to fund anything to do with immigration or homeland security or vetting. Could create a conflict of interest.
The bad: “…national security risks without proper vetting,..” one could argue there would numerically be fewer such risks because your earlier point already made the case there are few folks who can pay 5 million than 900 thousand. As far as severity, it’s the same risk we have today. Paying $5 million doesn’t increase the risk. Presumably any bad actors who would try to sneak past the checks for 5 million were smart enough to try it for $ 900 thousand.
Many countries have an investment requirement to buy permanent residency. As long as there is due diligence. Letting triads and other cartel folks buy permanent residency would be a bad idea.
They will anyways. Due diligence is just paperwork for lawyers. Serious organized criminals can afford plenty of lawyers.
Exactly. Canada has a business investment plan which leads to landed immigrant status. The only difference is that the minimum required investment is/was around 500k.
fantastic idea!! lots of countries sell citizenship to have a dual citizenship!
The program currently has a top rate of $1 million, this is just adjusting for inflation :)
And such a program is neither unique nor limited to the US, most countries have something similar.
Biden was letting cannibals and axe murders into the country free-of-charge. If Trump can charge foreign billionaires $5 million for each member of their family that wants to hang in the Hamptons or South Beach, then that's a radical change from what we've had these past four years. Go for it!
I had an immediate negative reaction to it, but the more I thought about it, the more I like it. Here are my reasons that closely align with the bullet points you already laid out:
1. Less opportunity for fraud. EB5 required tracking, specific investment thresholds, etc. This just says, “pay $5million and you get residency.” Any investment and/or jobs are directly tied to the visa itself.
2. Less people will use it than the EB5. While you saw this as a negative, I see it as getting individuals who are INVESTED in the U.S. and not just INVESTING with a golden parachute.
3. I think it has the potential to also replace the H1N visas. If companies are so determined that have to have *special* people with special skills to work for their company, then they can pay the $5mil on behave of that person. Has potential to eliminate fraud in that program as well.
4. Eliminates the lottery system that does not reward or prioritize the type of skills we need.
What happens to a program like this when dems are back in charge? It seems that this can be corrupted easily. Why does a path to citizenship have to be incorporated?
No vetting, no gold card. But in practice as you say, very few will be able to take advantage of this program. The last thing we need is 1,000 CCP agents getting gold cards every year.
CCP agents have been here, infiltrating our schools and institutions. Let's not ignore the Chinese organizations that have messed with our elections.
My fear is that these people will become politicians.. count on it.
On the flip side. They probably coming anyways. So they might as well pay.
What about HB1 visas?
I honestly don't get this. Since when does wealth equate to intelligence, creativity, worthiness, fortitude, or any number of adjectives if the purpose of this program is inviting the best and brightest to become American citizens? Does this mean ordinary people with extraordinary abilities and ideas can't make better citizens? Nonsense.
Rich foreigners have been paying for special privileges for ever. Now we'll have a formal process with defined parameters and fees.
It doesn't, but like Disney it allows you to skip the line
Put the money in the National wealth fund he’s been talking about
I don’t think citizenship should be for sale. Also, what if these “citizens “ start huge land acquisitions? Besides vetting them as closely as possible or placing certain restrictions on their “citizenship “, there is nothing to prevent them from buying property around military bases, etc.
I think analyzing how other countries are doing this and having proper controls and goals, this may be a good program. But there needs to be a lot of thought put into vetting the candidates for source of current and future funds, ideology, reasons for applying for the visa, etc. and learning from the mistakes of other countries. And this program should be reevaluated and reauthorized on periodic schedule to ensure that it's not being abused by other countries or people/organizations outside or inside the US. The proceeds should be earmarked for immigration-related efforts such as assimilation courses. The entire EB-5 program should also be revamped to eliminate the abuses because if that can't be done then there won't be trust in the gold-card version. Finally, the needs of current US citizens should always outweigh any of these programs--a consideration that is obviously currently lacking in the US and Europe.
My first reaction was that this seems like the citizenship by investment programs that many small nations have, like Portugal, Dominica, and Bermuda. But Bermuda and Dominica have these programs as a method of encouraging investment and a reduction of other taxes. But if a foreigner were to sign up for this, he would be committing himself to a lifetime of potential harassment by our IRS. Or would this type of investor be entitled to reduce his income taxes for the rest of his life? I don't think that has been addressed by the Golden Visa program.
Stupid and won’t hold up in court and it reeks of elitism! Trump has to refrain from being too much of an asshole. I do like it when he trolls….but way overboard!
It already is being done dipshit.
Damn, you beat me to it. Yes, it's been happening for decades. Remember when Hillary Clinton's brother was selling special Visas?
It’s a great idea and the trump people will run it flawlessly..and individuals won’t pay, the corporates will pick the cream of the crop and pay up. Nothing for them. This is what TRUMP does thinking outside the idiot box…
The bad: “…no guarantee that a mechanism will be created to use the revenue from the “gold card” program to pay down the debt…” fully agree with you on this one. But it’s just as likely the revenue would be used to pay for current expenses so we’d need smaller budget (and deficit). Example suppose each $5 million payment was used to partially fund FAA operations? No conflict of interest there. I wouldn’t use it to fund anything to do with immigration or homeland security or vetting. Could create a conflict of interest.
The bad: “…national security risks without proper vetting,..” one could argue there would numerically be fewer such risks because your earlier point already made the case there are few folks who can pay 5 million than 900 thousand. As far as severity, it’s the same risk we have today. Paying $5 million doesn’t increase the risk. Presumably any bad actors who would try to sneak past the checks for 5 million were smart enough to try it for $ 900 thousand.