US Citizens Wouldn't Be Eligible for this Loophole

[BobKamman]

From an article about the new “gold card” visa for only $5 million:

Currently, U.S. citizens, permanent residents, and green-card holders are required to pay income tax on their U.S. earnings as well as any income they earn overseas, including in their home country. The U.S. tax on worldwide income has traditionally made U.S. residency or citizenship far less attractive for the global rich, who have businesses spread across the world and often sheltered in tax havens.

Trump said gold-card holders would not be subject to taxes on their overseas income. The provision means that gold-card residents will be able to purchase a tax benefit not available to U.S. citizens. Advisors say they’re waiting on clearer directives, since the program could create dual classes of taxpayers among the American wealthy.

Yet the international income carve-out makes it far more attractive to the world’s ultra-wealthy.

“This would be a big departure” in tax treatment, said Laura Foote Reiff, an attorney at Greenberg Traurig who specializes in business immigration. “There are many wealthy individuals who are invested in U.S. companies or have families here that do not become permanent residents because they don’t want the tax consequences.”

https://www.cnbc.com/2025/02/27/trump-gold-card-visa-hidden-tax-benefit.html