Trump’s $5 Million ‘Gold Card’ Visa: A Shortcut to US Citizenship for the Wealthy

From Russian Oligarchs to Indian Billionaires—who benefits from Trump’s $5 million ‘Gold Card’ visa?

In a move that could reshape US immigration policies, former President Donald Trump has proposed a $5 million "gold card" visa as an alternative to the long-standing EB-5 immigrant investor program. This announcement, made on Tuesday, is seen as part of Trump’s strategy to attract affluent foreign investors while eliminating what he calls the "flawed" EB-5 visa program.

The EB-5 visa program, which has been in place since 1990, allows foreign nationals to obtain US green cards by investing substantial amounts in American businesses that generate or sustain jobs. Under the existing framework, investors must inject between $800,000 and $1.05 million into a US-based enterprise and create a minimum of 10 jobs. However, Trump argues that the EB-5 program has been plagued by fraudulent activities and inefficiencies, prompting the need for a more straightforward approach.

The New 'Gold Card' Visa: What’s Different?

The proposed gold card visa significantly raises the financial threshold to $5 million (approximately Rs 43.54 crore). Unlike the EB-5 visa, which mandates job creation, the new scheme requires only monetary investment, eliminating bureaucratic hurdles. Trump emphasized that this initiative would bring in high-net-worth individuals who would contribute to the US economy through spending, taxation, and employment generation.

"Wealthy people will be coming to our country by buying this card. They'll be successful, they'll be spending money, paying taxes, and employing people," Trump stated. According to reports, the program is expected to launch by April, with an initial availability of up to 10 million gold card visas.

While Trump’s proposal is designed to attract elite investors, it also raises questions about eligibility. When asked whether Russian oligarchs could apply for the gold card, Trump responded, "Yeah, possibly. Hey, I know some Russian oligarchs that are very nice people." This remark has sparked debates over potential national security concerns and the ethical implications of selling US residency.

Impact on Indian Professionals and Immigrants

For Indian nationals, this policy could have significant consequences. Skilled professionals from India already face lengthy green card backlogs, with waiting periods spanning decades. The high price tag of the gold card visa means that only India's ultra-rich—industrialists, startup founders, and business magnates—can afford this expedited route to US residency.

Additionally, under the EB-5 program, applicants could use loans or pooled investments to meet financial requirements. However, the gold card visa demands an upfront cash payment, further restricting access for middle-tier investors. Consequently, H-1B visa holders and other skilled professionals from India may continue to rely on employment-based visas, facing prolonged uncertainty in their pursuit of permanent residency.

Meanwhile, the US government is cracking down on illegal immigration. Reports indicate that three flights carrying over 100 Indian nationals who attempted to enter the US unlawfully were recently deported. With more deportations expected, experts stress the importance of awareness campaigns to educate aspiring immigrants on legal migration options.

Legal Alternatives to the Gold Card Visa

Immigration experts highlight several legal pathways for Indians seeking to move to the US:

• H-1B Visa: The most common employment-based visa for skilled professionals, requiring employer sponsorship.
• L-1 Visa: Enables intra-company transfers for managerial and specialized roles.
• O-1 Visa: Reserved for individuals with extraordinary abilities in fields such as science, arts, education, and athletics.
• EB-5 Visa: Despite the proposed phase-out, it remains a viable option for investors who meet the financial and job creation criteria.
• Family-Sponsored Visas: Allows US citizens and permanent residents to sponsor close relatives.
• F-1 and M-1 Student Visas: Available for individuals pursuing academic or vocational education in the US.

As the Trump administration moves forward with the gold card proposal, it remains to be seen whether this plan will gain legislative approval and how it will impact global investor migration trends. One thing is certain—this new visa program could redefine the landscape of US immigration policy, favouring the wealthiest over skilled professionals.

Disclaimer: This article is for informational purposes only and should not be considered financial or investment advice.