Latest news with #GoldCard
Time of India
3 days ago
- Business
- Time of India
Trump's $5 million ‘Gold Card' visa draws skepticism after delay in launch date
The Trump administration 's proposed ' Gold Card ' visa program, aimed at granting US citizenship to ultra-wealthy individuals investing $5 million, has missed its promised launch deadline. Despite early claims of a rollout, no official website or documentation has emerged, raising skepticism about the program's existence, according to a report by Forbes. Commerce Secretary Howard Lutnick had earlier said the program would go live within a week. That deadline has now passed. Lutnick also claimed to have sold Gold Card visas during a recent trip to the Middle East, stating in an earlier interview that he secured 1,000 sign-ups in a single day. Experts remain unconvinced. Nuri Katz, founder of Apex Capital Partners, told Forbes that such programs face major challenges. 'In my 34 years of experience, I have rarely seen anybody spend more than 10% of their net worth on an immigration program, and generally it's more like 5%. So you've got to be worth $100 million in order to be able to afford this,' Katz said. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Belly Fat Removal Without Surgery in Algeria: The Price Might Surprise You Belly Fat Removal | Search Ads Get Info Undo He further added that the number of people able and willing to invest such an amount is small. Even if the program is launched, Katz said, 'It won't be a million people and it won't be even 200,000.' Commenting on the current status of the proposal, Katz said, 'It looks to me like they're backpedaling. Now they have to make a decision of whether or not there really is the interest, because they are going to have to expend a lot of political capital in order to get this done.' (Join our ETNRI WhatsApp channel for all the latest updates) Katz also warned that high-net-worth individuals would be cautious about joining unless there is more clarity. 'We don't know where that information is going to go and who's going to use it. Will it be used only by the US government? Could it maybe be sold to private businesses? It's going to be a pretty powerful database of rich people.' Live Events MORE STORIES FOR YOU ✕ Foreigners can start registering for Trump's new $5 million 'gold cards' within a week 'For $5 mn this could be yours' Trump says as he shows off his new Gold Card meant for rich foreigners « Back to recommendation stories I don't want to see these stories because They are not relevant to me They disrupt the reading flow Others SUBMIT In the recent past, billionaire Elon Musk had mentioned he was conducting a quiet trial of the program, but there has been no further update as he returned to his business interests. The absence of official confirmation or infrastructure has left many questioning if the Gold Card visa plan is real or still under development.
Time of India
3 days ago
- Business
- Time of India
Where's Trump's $5-million Gold Card visa? Report says it possibly does not exist
Trump showed the Gold Card visa earlier but the program is yet to be launched. The Donald Trump administration has been teasing a Gold Card visa that would give US citizenship to the richest people who are ready to spend $5 million to become US citizens, but as it is yet to see the light of day, experts feel it probably does not exist. Commerce secretary Howard Lutnick said the website would go live within a week but now that deadline is now over, an expert told Forbes that it is probably not even real. Lutnick, however, claimed he sold Gold Card visas in the Middle East during his latest trip. In an earlier interview, Lutnick said he sold 1000 such visas in a day. Nuri Katz, founder of Apex Capital Partners, told Forbes that the challenges to pull off something like this are daunting. 'In my 34 years of experience, I have rarely seen anybody spend more than 10% of their net worth on an immigration program, and generally it's more like 5%. So you've got to be worth $100 million in order to be able to afford this," Katz said adding that unlike what is being portrayed, the pool of such wealthy people who are willing to contribute $5 million is relatively small. Even if the government launches the Gold Card visa program any time soon, it won't be a million people and it won't be even 200,000. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với mức chênh lệch giá thấp nhất IC Markets Đăng ký Undo 'It looks to me like they're backpedaling,' Katz said. 'Now they have to make a decision of whether or not there really is the interest, because they are going to have to expend a lot of political capital in order to get this done,' Katz said. Ultra-wealthy investors will be skeptical about such program and will wait for more details, he said. "We don't know where that information is going to go and who's going to use it. Will it be used only by the U.S. government? Could it maybe be sold to private businesses? It's going to be a pretty powerful database of rich people." A few weeks ago, Elon Musk said he was doing a quiet trial of the program but now that he is back to his companies, it is not known what happened to the Gold Card visa program.
Yahoo
6 days ago
- Business
- Yahoo
Warren Buffett Buys His McDonald's Based on the Stock Market — Should You?
Warren Buffett will step down from running Berkshire Hathaway at the end of this year, but he remains one of the wealthiest and most influential investors in history, with a net worth of around $158 billion and millions of dedicated followers. Read More: Explore More: At 94 years old, Buffett is a shining example of someone who figured it out at a young age and never strayed from his fundamental financial beliefs. But he is also renowned for being extremely thrifty; he lives in the same Omaha house he purchased for $31,500 in 1958 and eats a cheap McDonald's breakfast every day. Regarding the latter, Buffett explained in the 2017 HBO documentary 'Becoming Warren Buffett' that his breakfast routine at the 'Golden Arches' is influenced by the daily ups and downs of the stock market. 'When I'm not feeling quite so prosperous, I might go with the $2.61, which is two sausage patties, and then I put them together and pour myself a Coke,' he said. '$3.17 is a bacon, egg and cheese biscuit, but the market's down this morning, so I'll pass up the $3.17 and go with the $2.95.' In his financial dealings and his everyday life, Buffett is a man of habit who chooses to buy his breakfast each morning, despite his enormous wealth and ownership of a rare McDonald's 'Gold Card' that grants him free food for life in Omaha. 'There's just a few of them,' Buffett said in a CNBC interview. 'Bill Gates has one. His is good throughout the world, I guess. Mine is only good in Omaha, but I never leave Omaha so mine is just as good as his.' Check Out: Generally, you should never base your daily spending on the short-term ups and downs of the stock market. Stock market prices and food prices are not directly correlated and are influenced by a separate set of factors. Your daily expenses should be covered by a stable income and a smart budget rather than relying on unpredictable, speculative investment gains. Buffett knows this, of course. Although he meticulously studies companies he's interested in buying and is a skillful value investor, Buffett's net worth has grown into the billions because he sticks with stocks through the bad news days and turbulent short-term slides, allowing compound interest to do its thing over time. When it comes to being a McDonald's customer, Buffett is as serious and loyal as one could be. However, his McDonald's breakfast routine is largely symbolic, in line with his sensible spending habits and simple pleasures. Stocks are great investments for long-term growth, so you should always avoid frequent or impulsive cash-outs that may result in lost compounding profits, taxes and fees. Tweaking a portfolio from time to time is fine, but long-term investors should leave their investments undisturbed and take a look at them every couple of months. Additionally, lifestyle inflation can occur when you spend more when your portfolio is doing well. However, the stock market has an indirect impact on daily spending for many Americans by influencing people's views of their wealth and fueling economic confidence and the propensity to spend. Most investors make a big purchase or optimistically plan for retirement during a bull market, when a strong economy makes them feel wealthier and more assured. This isn't a bad thing; being a keen observer can help you avoid making uncomfortable purchases and keep you in the broader financial news loop. But unless you follow a structured retirement plan (like the 4% rule) or rely heavily on investments for income, adjusting your daily spending on stock market trends can be counterproductive to your overall wealth growth goals. More From GOBankingRates 9 Downsizing Tips for the Middle Class To Save on Monthly Expenses This article originally appeared on Warren Buffett Buys His McDonald's Based on the Stock Market — Should You? Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
27-05-2025
- Business
- Associated Press
Global Immigration Partners Offers Expert Guidance on Trump's New $5 Million 'Gold Card' Visa Program
Global Immigration Partners announces its readiness to assist high-net-worth individuals interested in the newly introduced U.S. 'Gold Card' visa program. WASHINGTON DC, DC, UNITED STATES, May 27, 2025 / / -- Global Immigration Partners, a leading international immigration law firm, announces its readiness to assist high-net-worth individuals interested in the newly introduced U.S. 'Gold Card' visa program. This initiative, unveiled by President Donald Trump, provides a pathway to U.S. permanent residency and eventual citizenship for foreign nationals who invest $5 million in the United States. The official registration portal, TrumpCard, is set to launch within the next week, allowing prospective applicants to express their interest in the program. Commerce Secretary Howard Lutnick has indicated that the administration aims to attract up to one million investors through this program, potentially generating significant revenue to address the national debt. Key Features of the Gold Card Visa: Investment Requirement: A direct $5 million investment into the U.S. economy. Residency Benefits: Grants permanent U.S. residency with the potential for citizenship. Simplified Process: Unlike the EB-5 visa, the Gold Card does not mandate specific job creation or investment in targeted employment areas. Tax Considerations: Reports suggest possible exemptions from U.S. taxes on foreign income, though official details are pending. Global Immigration Partners offers comprehensive legal services to navigate the complexities of this new visa program. With offices in Washington D.C., London, and Rome, the firm is well-positioned to assist clients worldwide. About Global Immigration Partners: Global Immigration Partners is a premier immigration law firm specialising in U.S. and international immigration solutions. The firm provides expert legal counsel on various visa categories, including investor visas, family-based immigration, and corporate immigration services. Contact Information: Washington D.C. Office: 1717 Pennsylvania Avenue NW, Suite 1025 Washington D.C. 20006 Phone: (+1) 267-507-6078 London Office: 1 Mayfair Place London W1J 8AJ United Kingdom Phone: (+44) 020-3769-9624 Rome Office: Piazza di San Silvestro, 8 00187 Rome, Italy Phone: (+39) 06 4521 4844 For more information, visit Press Secretary Global Immigration Partners PLLC +1 267-507-6078 email us here Visit us on social media: LinkedIn Bluesky Instagram Facebook YouTube TikTok X Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
India.com
26-05-2025
- Business
- India.com
Gold Card US Visa: Trump's $5 Million Shortcut To Citizenship — What It Really Means For Indians
Imagine being able to totally avoid the tedious processes of visa queues, document preparation, and waiting periods for access to the US. That is the promise made by the former President of the United States Donald Trump with his new 'Gold Card' Visa, a more advanced immigration route that has already attracted the attention of Indian investors, startup heads, and affluent families who want straightforward access to American citizenship. But what truly is the Gold Card? How come it is set to replace the previous EB-5 visa? And more significantly, hitherto who are planning on settling in the US, what changes does this bring to the Indians? Let's clarify everything in detail. What is Gold Card Visa? 'Gold Visa' should be understood as additional guiding documents along with an entry visa stamp where the price is expected to be exorbitant. As previously outlined by Trump himself this week, the Gold Card is a new subscription style residency and citizenship option for foreigners who want to spend $5 million or more into the America's economy. It promises to be less complicated and more American than the existing means of migration, specifically the EB-5 investor visa which it plans on taking over. Why is the EB-5 Visa being replaced? The investor EB-5 visa was introduced in 1990 and is historically one of the oldest in existence. The logic behind it was funneling foreign currency in the states by enticing wealthy people to invest in American enterprises to boost employment. In principle, it seemed to work. It enabled thousands of foreign nationals, including many Indians, to obtain permanent residency, start businesses, and settle with their families. The EB-5 has been under scrutiny for a long time because of its loopholes, misuse, and for not delivering on economic promises or jobs. Trump's administration deems the EB-5 as antiquated. Putting it more drastically, Commerce Secretary Howard Lutnick said: 'It was nonsense and a way to get a Green Card at a low price.' In a nutshell, the new Gold Card is now being sold as an upgrade, which is a premium visa intended—so says Trump—to restore the system's value and integrity. But critics rightly point out it is not about integrity at all. They argue it is about exclusivity, and it is heavily weighted towards the wealthy. What Does This Mean for Indians? Now we're getting to the meat of the matter. India continues to be one of the top three countries leveraging the EB-5 pathway, particularly for families seeking a secondary option outside India. A good portion of the H-1B visa holders already in the U.S. used this to change their work visas into permanent residency. Business families from Delhi, Mumbai, Bengaluru, and Hyderabad have also utilized it to send their children to attend American universities and later settle in the country. But now, the Gold Card changes the dynamics. It's No Longer for the Upper-Middle Class With each USD 5 million, over ₹41 crores based on the current exchange rate, the visa is increasingly unattainable to most Indians. Before, with EB-5, business families with a couple of crores could feasibly plan for a future in the U.S. This is an outright price increase, but a change in perception. Now, the investment with target business creation focus is scrapped for an elite immigration buy. Startup Founders and VCs May Still Benefit The U.S-based Indian founders of startups looking to scale or even move their headquarters to the U.S. might still find value here especially those who have raised funding or exited multi-million dollar companies. For VCs (Venture Capitalists) and HNI (High Net-Worth Individuals), it would provide a straightforward approach to family or strategic business expansion in the U.S. But for professionals or aspiring migrants? The equation is unbalanced. Is it Worth It? That's the five-million-dollar question – or something along those lines. What You Get: The legal rights of residency (similar to the Green Card) Fast-tracked access to U.S. citizenship Entitlement to American schools, healthcare, and banking services. Unrestricted immigration rights throughout the U.S for working residents. The right to a powerful passport (and eventually global travel) Ultra-rich individuals seeking cross-border international movement and an accessible base outside India might find this attractive. This could be a smart move. But the plan is more rigid beyond the initial investment for those intending the EB-5 options as a backup or cost-effective strategy. Will It Happen? This is critical to know—Trump is no longer the current U.S. president. He is a former president and front-runner in the upcoming elections. While plans have been laid out for the Gold Card, its implementation is still pending legislative, policy clearance, and public backing. Additionally, U.S. immigration policies are highly political. This proposal has already been criticized by many Americans for placing money over merit. However, it is no secret that broad and unconventional approaches to immigration are his most admired attributes, so should he be elected again, there's a high probability this visa will be in motion by late 2025 or early 2026. What other options can Indians explore? If the golden card is unattainable, then what is attainable? Let's put it all on a list: H-1B Visa: still the most popular work visa, although difficult to acquire due to its lottery-based restrictions. O-1 Visa: Designated for those with 'extraordinary ability' in one or more fields, such as high-profile sports, technology, and customer service. L-1 Visa: Or transfer visa. It is meant for former employees of multinational corporations. These people are usually Indians and it allows them to work in the US for the company they have been hired by. E-2 Investor Visa: indirectly available to Indians but can be obtained through a passport from Grenada which holds treaties with the US. Start Up Visa Routes: Canada and the UK invite foreign nationals looking to create new businesses. They are aggressive with startup visas. And even the UAE has better policies for entrepreneurial visas. Most significant changes? It just became increasingly expensive to the U.S. as an immigrant without capital. Why It Matters for India After Mexico and China, India has the highest share of immigrants going to the United States. Every year, thousands of students, information technology professionals, entrepreneurs, and family members try to immigrate to the United States in Search of better opportunities. The EB-5 program was like a safety net. The Gold Card might resemble more like a golden ticket; it is indeed a privilege for many Indians but not a survival guide. With countries such as Canada, Australia, and Singapore offering more affordable and merit-based immigration pathways, the appeal of the United States for international immigrants might decline. Final Word Trump's Gold Card emphasizes the notion of a citizenship premium. The value behind the U.S. saying you are a citizen now holds far too much suspense. The focus isn't on the education, perceived work experience, or even innovative capability – it is simply on how deep are your pockets. Citizenship is guaranteed for the rich, but if your income does not reach a particular threshold, the odds are quite high you will have to seek opportunities elsewhere. For those seeking to settle down in America, the intention is elementary: Plan better, or be ready to spend exorbitant amounts of cash throughout the process.
