US President Donald Trump’s ‘Gold Card’ or ‘Golden Visa’ scheme is getting tremendous response. Under this scheme, permanent residence and alternative citizenship is being offered at a price of $5 million (about Rs 43 crore).

A senior official of the Trump administration has claimed that this scheme has become a super hit. 1000 cards have been sold in a single day.

US Commerce Secretary Howard Lutnick claimed that he sold 1000 ‘gold cards’ in just one day under this scheme, which earned the government $5 billion (about Rs 43000 crore). Lutnick gave this information in the ‘All-In’ podcast.

What is a ‘Gold Card’?

Under this scheme, any foreigner can become a permanent resident of America, but he will not have to join the US global tax system. That is, there will be no tax on property earned outside America. However, if a person earns while living in America, then he will have to pay tax on that income.

Elon Musk is making software

Lutnik told that Elon Musk is preparing software for this scheme and officially this scheme will be launched in two weeks. He said, “Right now this scheme is in the initial stage, but yesterday itself I sold 1000 ‘Gold Cards’.”

Why is this scheme special?

Guarantee of permanent residence: Gold card holder will get the right to come and live in America at any time.

Citizenship optional: If a person wants to become a citizen, he can become one, but it is not mandatory.

Exemption from global tax: The cardholder will have to pay tax only on the income earned in America, while there will be no tax on the property earned abroad.

Huge revenue to the government: The Trump administration estimates that 37 million people around the world are capable of buying this card. Trump hopes that at least 10 lakh ‘Gold Cards’ can be sold, which will help reduce America’s national debt and financial deficit.

Why is ‘Gold Card’ being bought?

Lutnik gave an example and said, “If I was not an American citizen and lived in another country, I would buy 6 ‘Gold Cards’ for my wife and four children. If an emergency or crisis arises in any country in the future, I can come directly to America and stay safe here.”

Trump government removed the limit

Donald Trump had announced this scheme and said that there would be no annual limit on it, that is, as many people as they want can buy as many ‘Gold Cards’. If Lutnik’s claim proves to be true and 1000 cards are sold every day, then this scheme can bring a big change in the American economy.