'Gold Card' Visas for US Citizenship

US President Donald Trump has introduced a new "Gold Card" immigration initiative, replacing the existing EB-5 visa program.

This new policy aims to attract wealthy foreign investors by offering a streamlined path to U.S. citizenship and permanent residency.
 

Key Features of the Gold Card Program
 

1. Requires a minimum investment of $5 million from foreign investors.
2. Provides a direct pathway to U.S. permanent residency and citizenship.
3. Replaces the EB-5 visa program, which has been in place since 1990.
4. Designed to attract high-net-worth individuals willing to make significant economic contributions.
    

Comparison: Gold Card vs. EB-5 Visa Program
 

EB-5 Visa Program
 

1. Established in 1990 to boost the American economy through job creation and capital investment.
2. Requires a minimum investment of $1.05 million (or $800,000 in economically distressed areas, known as Targeted Employment Areas).
3. Grants Green Cards to eligible investors who meet the job creation and investment criteria.
    

Criticism of EB-5
 

1. Faced fraud and misuse allegations, with reports suggesting that funds were used for real estate projects, including those linked to the Trump family businesses.
2. Calls for reform intensified during Trump's presidency due to concerns about program integrity and misallocation of funds.

 

Impact on Indian Investors
 

Green Card Statistics
 

1. In 2023, only 631 Indians obtained Green Cards through the EB-5 program.
2. The $5 million investment requirement may make the Gold Card program less attractive to many Indian investors.
    

Impact on Other Immigration Categories
 

1. Over one million Indians are currently waiting for Green Cards in the U.S.
2. The backlog for employment-based Green Card applicants from India is projected to reach 2.19 million by 2030.
3. The introduction of a new investor category like the Gold Card may further extend waiting periods for applicants in other visa categories.