US President Donald Trump has announced a new immigration initiative known as the “gold card” visa, which offers a path to US citizenship for a $5 million investment. This move replaces the existing EB-5 visa program and has sparked concerns among Indian nationals awaiting green cards.
What is the ‘Gold Card’ Visa?
The “Trump Gold Card” is designed to replace the EB-5 visa program, which was established in 1990 to encourage foreign investment in the US. Under the EB-5 program, investors could secure a green card by investing between $800,000 and $1.05 million in a business that creates at least ten jobs. The new gold card visa eliminates the job creation requirement and significantly raises the investment threshold to $5 million.
Key Differences: EB-5 Visa vs. Gold Card Visa
EB-5 Visa (Current):
- Investment Required: $800,000 – $1.05 million
- Job Creation Requirement: Must create 10 US jobs
- Path to Citizenship: 5-7 years
- Backlog for Indians: High (7-10+ years wait time)
Trump’s Gold Card Visa (Proposed):
- Investment Required: $5 million
- Job Creation Requirement: None
- Path to Citizenship: Immediate
- Backlog for Indians: None (Direct Purchase)
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Impact on Indian Nationals
For India’s wealthiest individuals, the gold card visa presents a faster and simpler route to US residency compared to the EB-5 visa or the long H-1B to green card process. However, its steep $5 million price tag makes it an option only for the super-rich, leaving most middle-class professionals and skilled workers reliant on traditional visa pathways.
Alternatives to the Gold Card Visa for Indian Nationals
Since the gold card visa is financially restrictive for many, alternative US immigration options include:
- EB-5 Visa: If still available, offers green cards for a lower investment but has a backlog and job creation requirement.
- O-1 Visa: For individuals with extraordinary ability in tech, research, arts, or business, which can lead to an EB-1 green card.
- L-1 Visa: For business owners and executives transferring within a multinational company.
- H-1B to EB-2/EB-3: The current skilled worker route, though subject to long waiting periods.
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Trump’s Justification for the Gold Card Visa
Trump’s Commerce Secretary, Howard Lutnick, described the EB-5 program as “nonsense” and “fraudulent,” justifying its replacement. Trump suggested that selling 10 million gold cards could help reduce the US deficit and expressed optimism about the new program’s potential benefits.
Conclusion
Trump’s gold card visa represents a major change in US immigration policy, benefiting ultra-wealthy investors while making it harder for middle-class foreign nationals to obtain permanent residency. For Indian applicants, this visa could be a game-changer for the affluent but an unattainable option for most skilled professionals. Alternative routes such as the O-1, L-1, and H-1B visas will continue to be the primary pathways for the majority of Indian immigrants.