Things You Probably Don’t Know About The US Golden Visa
The US golden visa program is a type of immigration program that offers permanent residency, citizenship, and legal residency to wealthy individuals. Applicants must prove their financial investment to be eligible. If approved, golden visa holders can travel throughout the Schengen area. While this process is more complex than other immigration programs, the visa gives them access to the European Union.
If you’re planning on investing in the US, you’ll need to make sure the investment is substantial enough to support the company and create 10 full-time jobs. The investment must also be in a new commercial enterprise established after 1990 and be approved by USCIS. To qualify for this visa program, you must invest at least $1 million in your business.
The minimum investment amount has varied over the years. Previously, it was $500,000; however, that amount only applies to areas with high unemployment. In early 2022, Congress voted to revisit the minimum investment amount and made it $1,050,000 for all locations.
A Golden visa program is an option for foreign nationals who are not dual citizens. However, suppose you intend to stay in the US for a long period. In that case, it is important to understand that even though you are granted citizenship in another country, you are still subject to the US tax system. Moreover, the tax system in the US is incredibly unfair since it taxes worldwide income. Luckily, there are ways to avoid the tax implications of being an expatriate in the US.
One of the most common tax consequences of the US golden visa program is the taxation of EB-5 investors. The United States taxes foreign residents on their worldwide income, including capital gains. As a result, many foreign investors choose this immigration route because it is the quickest route to permanent residency in the US. However, the costs associated with a residency through this program can be quite high. Therefore, it is crucial to learn as much as you can about the tax consequences of the US golden visa program before you begin applying.
Other options for obtaining a golden visa
If you are a foreign national and are interested in moving to the US, you have several options. The first, known as a residence by investment, gives individuals a chance to gain full residence rights in return for a defined economic contribution. After a certain period, successful applicants may apply for citizenship in the country. This enables individuals to take advantage of new markets while maintaining their full residence rights.