""Nobody had a clue [about] what's going on," said Ronald Feldstein, partner at the Saul Ewing law firm who has been advising clients on the EB-5 program since 2009. "At 5 o'clock or something they posted a blog and people picked it up.""
""It's going to stimulate EB-5, that's what i think it's going to do," he told the Sun Sentinel on Saturday. "They're both going to be popular.""
President Donald Trump signed an executive order directing the Departments of Commerce, State and Homeland Security to design a 'Trump Gold Card' program within 90 days that would grant residency to individuals who pay $1 million to the U.S. Treasury. Corporations could sponsor individuals for $2 million, and Homeland Security vetting could be expedited for a $15,000 fee. Commerce Secretary Howard Lutnick said the gold visa program would replace other employment-based paths to permanent residency in about a month, though the EB-5 investment program was not specifically mentioned. A separate $5 million 'Platinum' card would exempt applicants from U.S. tax on global income after a 270-day stay. Legal and EB-5 specialists expressed surprise, and some predicted the gold card could stimulate further interest in EB-5 investment routes.
Read at Sun Sentinel
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