In a dramatic overhaul of US immigration policy, President Donald Trump has unveiled the ‘Gold Card’ residency permit, a high-stakes alternative to the EB-5 visa. This premium visa, requiring a massive $5 million investment, provides an expedited pathway to American citizenship for ultra-high-net-worth individuals worldwide.
“We’re going to be selling a Gold Card. You have a Green Card; this is a Gold Card. We’re putting a price on that card of about $5 million,” Trump declared during a press briefing at the Oval Office on Tuesday.
Ultra-rich foreigners eyeing US residency must now invest a staggering $5 million for the exclusive ‘Gold Card’ visa.
How Does the ‘Gold Card’ Visa Work?
The ‘Gold Card’ is a top-tier residency programme catering exclusively to the wealthiest investors. The key benefits include:
- Fast-Track Citizenship: Investors gain a quicker route to US citizenship compared to conventional immigration channels.
- No Job Creation Requirement: Unlike the EB-5, applicants don’t need to prove job creation in the US economy.
- Exclusive Access: The high price tag ensures that only the ultra-rich qualify, making it a status symbol for global elites.
End of the EB-5 Visa: A Major Setback for Indian Investors?
The EB-5 visa, introduced in 1990, provided Green Cards to foreign nationals investing between $800,000 and $1.05 million in US businesses, creating jobs in the process. It became a lifeline for many Indian H-1B visa holders seeking permanent residency.
However, Commerce Secretary Howard Lutnick dismissed the EB-5 programme as a “low-price green card” loophole. “Rather than having this ridiculous EB-5 program, we’re going to replace it with the Trump Gold Card,” he stated.
The Indian Investor Perspective: Challenges and Alternatives
With the EB-5 visa being phased out, Indian investors now face new hurdles:
- Skyrocketing Investment Requirement: The $5 million threshold is far higher than EB-5’s entry point, pushing it beyond the reach of most aspiring applicants.
- H-1B Holders at a Disadvantage: Many skilled Indian professionals who planned to transition from an H-1B to a Green Card via EB-5 will now find this pathway financially unviable.
- A Shift to Other Nations: With US residency becoming costlier, Indian investors may explore alternative routes in Canada, Australia, and the UK, which offer business migration opportunities at lower investment levels.
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Will the ‘Gold Card’ Visa Attract or Deter Investors?
The Gold Card initiative aligns with Trump’s pro-business agenda, aiming to attract the wealthiest global investors. However, experts warn that the high price tag could deter many and reduce foreign investment inflows.
While billionaires may welcome this premium residency route, middle-tier investors will likely seek friendlier alternatives elsewhere. The long-term impact of this policy on US immigration trends remains to be seen.
