Trump’s ‘Golden Visa’
Commercial Observer
Connecting and informing industry leaders of trends and individuals defining the global commercial real estate landscape
The president has proposed legal residency to just about any foreigner who can invest $5 million upfront in the United States. What might that mean for commercial real estate? Staying in D.C. for today: The U.S. Senate grants a reprieve to Washington re: the city’s 2025 budget.
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— Tom Acitelli, Deputy Editor
Trump’s Golden Visa Could Boost Commercial Real Estate Investment
It’s not surprising that the often transactional nature of President Donald Trump’s policy decisions might carry over to commercial real estate. But what investors and developers want to know is whether his proposal for a so-called golden visa — in effect, selling access to a U.S. green card for $5 million to attract high-net-worth investors — will end up benefiting the real estate industry or hampering some of its access to foreign capital. “The program’s announcement has already triggered alarm bells in the real estate sector, an industry Trump knows very well,” said Murat Coskun, managing partner at Get Golden Visa, a consultancy for those hunting for residencies in a range of nations. “The program isn’t focused on real estate investment, but talks have started about a possible rise in demand. Wealthy individuals who can invest $5 million often buy luxury homes in the U.S.” During his March 4 address to Congress, President Trump declared his golden visa program would “allow the most successful job-creating people from all over the world to buy a path to U.S. citizenship.”
U.S. Senate OKs Plan to Reinstate D.C.’s New Budget Level
The U.S. Senate acted quickly on Friday evening to pass a revised version of its federal spending bill that would allow Washington, D.C., to use its fiscal 2025 budget, but the District isn’t out of the woods just yet. The updated bill is now in the hands of the House of Representatives, where it must be approved before it heads to President Donald Trump. The bill is largely expected to be approved, according to Axios, with co-author Sen. Susan Collins saying that the bill was supported by Trump and Republican House Appropriations Committee Chair Tom Cole. However, the House is in recess until March 24 — and D.C.’s financial fate remains in limbo until members return. The Senate earlier Friday passed a version of the spending bill approved by the House on Wednesday, with Senate Minority Leader Chuck Schumer and eight other Democrats joining nearly all their Republican colleagues, but the language of the spending package was particularly notable to D.C. stakeholders for what it left out.
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