Trump’s $5 million ‘gold card’ visa: What it means for Indians stuck in green card backlogs
President Donald Trump’s proposed "gold card" visa, which offers a $5 million path to US residency and citizenship, has sparked heated debate among Indians waiting for US green cards. With over 1 million Indians stuck in employment-based backlogs, some for over 50 years, the shift towards a wealth-based immigration model could drastically reshape their options.
Frequently Asked Questions
Q: What is the ‘gold card’ visa, and how does it differ from a traditional green card?
President Trump has proposed a new "gold card" visa, which grants green card privileges and a pathway to US citizenship for a $5 million fee. Unlike the traditional EB-5 investor visa, which requires a $800,000-$1.05 million investment in a business that creates at least 10 US jobs, the gold card has no such job creation requirement. Instead, it is being positioned as a premium residency option for wealthy individuals.
Q: How will the gold card impact Indian nationals waiting for green cards?
Indians are among the largest groups waiting for US green cards, with backlogs exceeding 50 years in some employment-based categories. The gold card could:
- Offer a faster route for wealthy Indians who can afford it.
- Exclude middle-tier investors who previously used EB-5 as an alternative to employment-based green cards.
- Shift focus from job creation to wealth, favoring Indian business tycoons over skilled professionals.
Q: Will the gold card replace the EB-5 investor visa program?
Yes. Commerce secretary Howard Lutnick confirmed that the gold card would replace EB-5 in two weeks. Trump criticized EB-5, calling it "full of nonsense, make-believe, and fraud." While EB-5 required job creation, the gold card is simply a direct purchase of US residency and citizenship eligibility.
Q: Can Indians currently on H-1B or EB-2/EB-3 visas apply for the gold card?
Yes, if they have $5 million to pay for it. Trump described the gold card as a "road to citizenship for people of wealth or people of great talent, where people of wealth pay for those people of talent to get in." This suggests that companies may also sponsor highly skilled employees, though details remain unclear.
Q: How will this affect Indians who were considering the EB-5 visa?
For Indians who planned to use EB-5, the fivefold increase in investment cost (from $1 million to $5 million) could make it unaffordable. While EB-5 investors could pool funds or take structured loans, the gold card seems to require upfront cash, limiting accessibility to India’s ultra-rich elite.
Q: How many gold cards will be available, and will there be a cap like EB-5?
Trump claimed, "We’ll be able to sell maybe a million of these cards," and even suggested selling 10 million to reduce the US deficit. Unlike EB-5, which had a cap, the gold card appears to have no numerical limit—it is purely a revenue-driven scheme.
Q: Could Indian tech CEOs, startup founders, or business leaders benefit from the gold card?
Yes. The program seems tailored for India’s wealthiest entrepreneurs, tech executives, and industrialists. Those who want to bypass H-1B visa lotteries and EB-2/EB-3 backlogs could find this an attractive alternative. However, its lack of clarity around job creation, business investment, and processing time raises concerns.
Q: Will the gold card need congressional approval, or can Trump implement it directly?
Trump said that congressional approval is not required, but legal experts disagree. If lawsuits or political opposition arise, implementation could be delayed or blocked—something Indian applicants should consider before committing funds.
Q: What are the risks associated with the gold card?
- Uncertainty: Details on processing, vetting, and long-term benefits are still vague.
- Legal challenges: Congress or courts may challenge its legality.
- Affordability: At $5 million, it excludes many Indians who could afford EB-5 but not this steep jump.
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