Nigerian-Lebanese businessman and cannabis mogul Bassim Haidar has cast doubt on Donald Trump’s proposed “gold card” visa, arguing that the $5 million investment-for-citizenship plan is unlikely to appeal to global investors. Haidar, a billionaire entrepreneur whose businesses span fintech, telecoms, logistics, and medicinal cannabis, believes the initiative presents tax burdens that outweigh its benefits.
Haidar: High Taxes Will Discourage Investors
Trump’s proposed gold card visa is intended to replace the existing EB-5 investor visa—which requires a minimum $800,000 investment—with a higher threshold of $5 million. The goal is to attract high-net-worth individuals, boost tax revenue, and create jobs. However, Haidar remains unconvinced.
“I don’t think this will have much impact,” said Haidar, founder of Optasia. “Getting a U.S. green card isn’t difficult if you meet certain criteria. Paying $5 million for a visa and then being taxed on your global income just doesn’t make sense.”
Trump’s administration argues that the higher investment threshold will bring in higher-quality investors. Commerce Secretary Howard Lutnick defended the plan, calling the EB-5 program ineffective and vulnerable to fraud. Meanwhile, the European Union is scaling back its residency-by-investment programs, warning that they inflate property prices and raise concerns about corruption and tax evasion.
Bassim Haidar’s Expanding Business Empire
Born to Lebanese parents in Nigeria, Haidar has built a vast business empire across multiple industries. He co-founded GMT, a top procurement and logistics firm in West Africa, before launching Optasia (formerly Channel VAS), a fintech company offering mobile financial services, airtime credit, handset loans, and big data analytics. Headquartered in Dubai, Optasia operates in Africa, the Middle East, Asia, and Latin America.
Haidar’s ventures extend into medicinal cannabis with SafriCanna, a South African company that exports to Europe, as well as a buy now, pay later (BNPL) platform for African SMEs. His total business portfolio generates over $1.6 billion annually.
Wealth, Politics, and Future Plans
In 2023, Haidar purchased a $25 million luxury flat near Chelsea’s Sloane Square in London. He also hinted at plans to sell or publicly list Optasia, though no formal announcement has been made.
A major political donor, Haidar contributed £300,000 ($380,000) to the UK’s Conservative Party in 2024, following previous donations of £323,780 ($411,300) in 2023 and £75,000 ($95,300) to London mayoral candidate Moz Hossain.
As he continues expanding his global influence, Haidar remains skeptical of policies like Trump’s gold card visa, reinforcing his stance that strategic business decisions—not expensive visas—are the key to successful international investment.
