
The Cyprus Tax System: Features, Pros, and Cons
For those planning to open a company or relocate to Cyprus, it is important to understand how the tax system works and what benefits it can provide.
President Donald Trump has unveiled an official website for his "Trump Card" initiative—a pathway offering wealthy foreigners a chance to secure U.S. residency for $5 million. In a social media post, Trump invited applicants to join a waitlist, claiming high demand for the program.
"Thousands are asking how to gain access to the greatest country and market in the world," Trump wrote, declaring that "the Trump Card is coming."
First announced in February as a "Gold Card," the program targets affluent individuals looking to bypass traditional immigration routes. Trump has billed it as a "more sophisticated" alternative to the standard green card, though critics question its legality.
The website features a mock-up of the card adorned with Trump’s portrait, the Statue of Liberty, and a bold "5M" insignia. For now, applicants can only submit their contact details to be notified when applications open.
Prospective candidates must provide:
Immigration experts argue that Trump lacks the authority to unilaterally create such a program, as new visa categories require congressional approval. The administration may attempt to use "parole" powers—previously employed by Biden for humanitarian entry—but this approach faces legal scrutiny.
Additionally, skeptics doubt whether wealthy investors would risk $5 million on a residency status that could be revoked.
Trump has positioned the Trump Card as a successor to the EB-5 investor visa, which he claims is "full of fraud." He estimates selling 1 million cards, potentially raising $5 trillion for the U.S. economy.
However, analysts warn that the plan’s feasibility hinges on overcoming legislative hurdles and market skepticism.
For those planning to open a company or relocate to Cyprus, it is important to understand how the tax system works and what benefits it can provide.
In this article, we'll take a detailed look at what a green card is, the rights and responsibilities it provides, how to obtain one, and the pros and cons of permanent resident status.
BIG UAE Visa News! ICP introduces new visas for AI experts, entertainment, events, and cruise tourism. Updated rules for visiting family, business, and humanitarian cases.