1 month ago
Last Updated:February 27, 2025, 16:34 IST
The new visa program, which offers residency permit for $5 million, aims to replace the existing EB-5 Immigrant Investor Program and open a new pathway to US citizenship for high-net-worth individuals.
The “gold card" visa will grant privileges of a green card and US citizenship for a fee of $5 million. (File)
US President Donald Trump has announced a “Gold Card" visa program, a premium version of a Green Card, as a pathway to citizenship for “wealthy people".
The new visa program, which offers residency permit for $5 million, aims to replace the existing EB-5 Immigrant Investor Program and open a new pathway to US citizenship for high-net-worth individuals.
How Will It Affect Indians?
However, the new policy has sparked concerns among Indians who have been waiting for their green cards. With more than 1 million Indians stuck in employment-based backlogs, the shift towards the wealth-based immigration model could impact their options.
Rahul Menon, an Indian-origin visa podcaster, told Hindustan Times that with the Trump’s new proposed policy, it will make more challenging for middle-income investors, like India, to qualify for the required investment.
“The investment amount drastically increases from $800k to $1.05 million to $5 million. It was a steep amount for Indian visa holders to begin with, and now will be next to impossible for the majority of the folks stuck in the Green Card backlog", he told the news outlet.
Menon further emphasised on the fact that such a drastic policy change would likely require Congressional approval. “From a legal standpoint, this will have to be passed by Congress similar to the EB 5 reform bill that was passed in 2022 by the Biden administration, where they increased investment amounts to $800k/1.05 million," he said.
What Is A Gold Card Visa?
The “gold card" visa will grant privileges of a green card and US citizenship for a fee of $5 million. Unlike the EB-5 investor visa program that required an individual to make an investment of $800,000-$1.05 million in a business that would create 10 US jobs, the gold card has no such requisite.
What US President Said?
“We’re gonna be selling a gold card. You have a green card, this is a gold card. We’re gonna be putting a price on that card of about $5 million and that’s gonna give you green card privileges plus," Trump said in the Oval Office.
“It’s gonna be a route to citizenship. And wealthy people will be coming into our country by buying this card. They’ll be wealthy and they’ll be successful and they’ll be spending a lot of money and paying a lot of taxes and employing a lot of people," the US President detailed.
Location : First Published:February 27, 2025, 16:34 IST
News india ‘Middle Class Can’t Even Afford’: Indian-Origin Visa Expert On Trump’s ‘Gold Card’ Offer
