New Delhi: In a move that could redefine U.S. immigration policy, President Donald Trump has unveiled a “Gold Card” visa program, designed to attract high-net-worth individuals with a $5 million price tag. Announced from the Oval Office, this initiative aims to replace the existing EB-5 Immigrant Investor Program, offering a direct pathway to U.S. citizenship for those willing to invest. The program’s focus on wealth as the primary qualification criterion has raised concerns among middle-income immigrants, particularly those from India, who face significant backlogs in employment-based visa applications.
The Gold Card program represents a significant shift from traditional immigration pathways, which often emphasize employment skills or family ties. Instead, it centers on financial investment, with applicants required to pay $5 million for permanent residency and a potential route to citizenship. Unlike the EB-5 visa, which mandates job creation through investments ranging from $800,000 to $1.05 million, the Gold Card does not explicitly require employment generation.
Rahul Menon, an Indian-origin visa expert, highlighted the challenges this policy poses for middle-income investors. “The investment amount jumps dramatically from $800,000 to $1.05 million to $5 million, making it nearly impossible for most individuals stuck in the Green Card backlog,” he noted. Menon also emphasized that such a policy change would need Congressional approval, similar to the EB-5 reforms passed in 2022.
President Trump described the Gold Card as a premium version of a Green Card, stating, “We’re gonna be selling a gold card… for about $5 million, and that’s gonna give you green card privileges plus.” He emphasized that this program would attract wealthy and successful individuals who would contribute to the U.S. economy through spending, taxes, and job creation.
The introduction of the Gold Card has sparked debate over its potential impact on immigration patterns, particularly for Indians awaiting their green cards. With over a million Indians facing employment-based visa backlogs, this shift towards wealth-based immigration could further complicate their options.
