A new USA Gold Card Visa scheme, put forth by American President Donald Trump, would enable affluent people to expedite their path to U.S. residency in exchange for a substantial $5 million charge. This proposal, known as the Trump Gold Card, intends to replace the 35-year-old EB-5 immigration program. High-net-worth investors are anticipated to be drawn to this move, but it may also make things more difficult for qualified Indian workers awaiting U.S. green cards.
The USA Gold Card Visa: A New Fast-Track to U.S. Residency
Rich investors could avoid the conventional green card application process by paying $5 million to get a Gold Card Visa under the proposed program. Trump has presented this program as a business-driven strategy to attract prosperous, high-spending individuals to the nation, which will strengthen the American economy.
“By purchasing this card, wealthy people will travel to America. They will create employment, pay taxes, and spend money,” Trump said.
The USA Gold Card Visa scheme may begin as early as April, according to reports, with 10 million Gold Cards first available for purchase.
How Does the Gold Card Visa Differ from the EB-5 Visa?
Foreign investors must invest between $800,000 and $1.05 million in U.S. companies and generate at least 10 new employees to be eligible for the 1990-established EB-5 visa program. Applicants must also endure lengthy wait periods—typically five to seven years—before being granted a green card.
With the Trump Gold Card Visa, however:
- Increases the required amount to $5 million, which is five times the minimum investment required by EB-5.
- Simplifies the process by doing away with the need to create jobs.
- Provides a considerably quicker path to U.S. residency than the backlog of EB-5 visas.
- Requires full payment in cash up front, however, EB-5 candidates can borrow money or pool their finances.
How Will This Impact Indian Immigrants?
The Trump Gold Card Visa offers a straightforward route to U.S. residency for affluent Indian investors and business magnates. This could, however, exacerbate the immigration challenges already faced by highly qualified Indian professionals.
Key Challenges for Indian Professionals:
Most Indian professionals who are locked in the green card backlog cannot afford the Gold Card Visa due to its high $5 million price tag.
There may now be even fewer options for permanent residency for Indian H-1B visa holders, who already have to wait decades for green cards.
Accessibility for middle-class investors is further restricted by the Gold Card Visa’s prohibition on applicants taking out loans or pooling funds, in contrast to the EB-5.
The H-1B work visa continues to be the main pathway to employment in the United States for the majority of Indian immigrants. Although they are technically eligible to apply for the Trump Gold Card, the great majority find it impracticable due to the hefty cost.
Conclusions
America’s investment immigration environment is about to change thanks to the USA Gold Card Visa. It might draw wealthy foreign investors, but it might also make it harder for qualified professionals who can’t afford to purchase their way into the United States. The program’s complete effects on the U.S. immigration system and international talent mobility are still unknown as it develops.