Billionaires uninterested in Trump’s $5 Million 'Gold Card' visa
Washington: US President Donald Trump’s newly announced Gold Card visa programme, which offers permanent residency and work authorisation for a $5 million fee, has drawn criticism from wealthy individuals.
While Trump claims the initiative will attract high-net-worth individuals and help reduce the federal deficit, many billionaires have shown little interest in the scheme. A recent Forbes poll of over 18 billionaires found that nearly 75% would not consider applying for the Gold Card visa. Critics argue that the programme lacks appeal, as wealthy individuals already have more convenient and cost-effective ways to conduct business in the US.
"There is no reason for rich people to enter this programme," a Russian billionaire remarked. Another stated, "If someone has a business idea, they can set it up for much less—so why spend $5 million?"
Indian billionaire Abhay Soi, chairman of the country’s second-largest listed hospital chain, also dismissed the idea, saying, "I wouldn’t want to be a citizen of any country other than India, especially in this century."
One of the primary reasons for the lack of interest is the US tax system. Unlike many other countries, the US taxes its citizens on global income, regardless of residency. While Trump assured that Gold Card holders "won’t have to pay tax on income earned outside the US," billionaires remain sceptical that such a provision would receive Congressional approval.
The Gold Card visa, set to launch in two weeks, aims to replace the existing EB-5 Immigrant Investor Programme, which requires applicants to invest in US businesses and create jobs. In contrast, the new initiative allows wealthy individuals to obtain residency rights simply by purchasing the visa.
"We are going to be selling a Gold Card at a price of about $5 million," Trump announced. "It will grant Green Card privileges and provide a pathway to citizenship for wealthy individuals willing to invest in America."
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
KSRTC to run 1000 special services to clear Christmas rush
Bengaluru: The Karnataka State Road Transport Corporation will operate 1000 additional special services in view of the Christmas festival.
In addition to the existing schedule, the special services will run on 19.12.2025, 20.12.2025 and 24.12.2025. Further, special buses will be operated from various places of intra & Interstate places to Bengaluru on 26.12.2025 & 28.12.2025.
Special buses will be exclusively operated from Bengaluru Kempegowda Bus Station to Dharmastala, Kukkesubramanya, Shivamogga, Hassan, Mangaluru, Kundapura, Shringeri, Horanadu, Davangere, Hubbali, Dharwad, Belagavi, Vijayapura, Gokarna, Sirsi, Karwar, Raichur, Kalaburagi, Ballari, Koppala, Yadgir, Bidar, Tirupathi, Vijayawada, Hyderabad and other places.
ALSO READ: Bengaluru: Shopkeeper stabbed for refusing to serve free panipuri
Special buses from Mysuru Road Bus Station will be exclusively operated towards Mysuru, Hunsur, Piriyapatna, Virajpet, Kushalanagar, Madikeri.
The corporation has also announced a discount of 5 per cent on the fare if four or more passengers book tickets under a single reservation. A discount of 10 per cent will be extended on return journey tickets if onward and return tickets are booked simultaneously.
In addition to the above, special buses will be operated from all Taluk/District Bus Stands in the jurisdiction of KSRTC based on the traffic needs.
