Trump's 'gold card' visa: Impact on wealthy Indians

Former US President Donald Trump has announced a 'Gold Card' visa program, offering fast-track US residency to foreign investors willing to pay $5 million (₹43.5 crore) upfront. The scheme aims to attract super-rich immigrants and is expected to replace the current EB-5 investor visa program, which has been in place since 1990.

The Gold Card visa is likely to be launched by April, with 10 million visas reportedly available in the initial phase. Trump claims the plan will boost the US economy by bringing in wealthy investors who will spend heavily, pay taxes, and create jobs.

How Is the Gold Card Visa Different from EB-5?

The EB-5 visa currently allows foreigners to obtain US residency by investing between $800,000 and $1.05 million in US businesses, provided they create at least 10 jobs. However, the process involves years-long wait times and strict job creation requirements.

The proposed Gold Card visa removes the job creation clause and offers a faster route to residency — but at a much higher price. Unlike EB-5, which allows applicants to use loans or pooled funds, the Gold Card visa demands $5 million in cash upfront, making it exclusive to ultra-wealthy applicants.

How Will Indians Be Affected?

The move is expected to further widen the gap between wealthy investors and skilled professionals, particularly Indian H-1B visa holders, who already face decades-long green card backlogs. With faster residency options for the rich, skilled workers may face even longer delays in the green card queue.

While Indian professionals on H-1B visas can apply for the Gold Card visa, the hefty price tag makes it unaffordable for most tech workers and middle-class investors.

The program, driven by Trump's business-first approach, is likely to face criticism for favoring wealth over skills and merit-based immigration.