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President Donald Trump unveiled plans in February for a “golden visa,” which would offer residency and a path to U.S. citizenship to investors willing to pay $5 million. Max Tremaine, CEO of Sherpa, discussed the world of golden visa programs – including their risks and the reasons they’re coveted – with Editor-in-Chief Sarah Kopit and Head of Research Seth Borko in this episode of the Skift Travel Podcast.
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Five Key Points
Global Golden Visa Market: More than 30 countries offer golden visa programs, with different requirements. Some focus on direct investments or job creation (e.g., Austria, Turkey, Egypt), while others, like Palau, use a donation-based model to raise revenue for government initiatives.
Motivations for Golden Visas: Individuals pursue golden visas for three main reasons: obtaining a stronger passport, accessing larger or more flexible markets, and benefiting from lower taxes. The U.S., with its strong passport, large economy, and relatively lower tax rates, could attract significant interest if a simplified program were introduced.
Potential Risks and Concerns: The ease of acquiring a stronger passport raises security concerns. Some countries have restricted visa-free access to nationals of places offering easy-to-obtain citizenship, fearing misuse for erasing travel histories or illicit activities.
Rise of e-Visas: The travel visa landscape is shifting toward electronic travel authorizations (ETAs), with over a third of international travelers now requiring them. The upcoming EU ETIAS program will push this past 50%, reflecting a trend toward digitization and increased security.
Market & Economic Implications: A U.S. golden visa program could attract wealthy entrepreneurs, benefiting dynamic economic hubs like New York, Miami, and Los Angeles. It could also spur other countries to simplify immigration pathways in response to competition.
Episode Summary
The podcast centered on golden visas, which offer residency or citizenship in exchange for economic investment, and highlighted former President Donald Trump’s proposed U.S. program requiring a $5 million donation for a green card and pathway to citizenship. These programs are common globally, but concerns exist about the potential for abuse, as some individuals might exploit these programs to erase travel histories or bypass security restrictions.
Indeed, governments have responded by restricting visa-free access for certain nationalities linked to easy-to-obtain passports, such as the United Kingdom’s 2023 restrictions on countries like Dominica and Vanuatu.
Sherpa CEO Max Tremaine explained how his company is working to help travelers obtain necessary visas while assisting governments with secure data access. While there’s huge demand for golden visas, reliable data on how many people get them remains scarce, leaving questions about their broader impact on global mobility. In addition, the increasing digitization of visa systems is also influencing broader immigration policies, potentially pushing governments to simplify pathways to residency and citizenship.
