Fed up with Rachel Reeves’s tax rises, with the calls for wealth and mansion taxes, and the loss of non-dom status? For $5 million (£3.95 million), there is now a very easy escape route. President Trump has just announced a ‘golden visa scheme’, allowing investors an easy path to American citizenship. That is aimed at attracting global entrepreneurs to the US. But it could also pose a real threat to the British economy.
The UK depends on a small group of taxpayers to keep its huge state machine financed
It is certainly a dramatic move. Golden visas that allow citizenship in return for investment have traditionally been restricted to a handful of micro-states and tax havens. President Trump has now decided to add the United States to the list. We will see how successful this is. Compared to places such as Dubai, the Caribbean islands, and Malta, best known for their golden visas, American taxes are relatively high.
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