Former U.S. President Donald Trump’s newly proposed “gold card” visa has ignited debate, particularly among Indians awaiting green cards. This visa, offering residency for a $5 million price tag, aims to replace the existing EB-5 Immigrant Investor Program and create a streamlined path to U.S. citizenship for wealthy individuals. While the initiative is expected to bring billions into the U.S. economy, its impact on Indian professionals and middle-tier investors is raising concerns.
For over a million Indians stuck in employment-based green card backlogs, the shift to a wealth-based immigration model presents a significant change. The EB-5 program, which required an investment of $800,000 to $1.05 million in job-creating businesses, was often used by skilled professionals looking for a more secure future in the U.S. The gold card, however, removes the requirement to generate jobs and instead prioritizes high-net-worth individuals who can pay the upfront fee.
Trump, in his announcement, justified the move as a way to attract successful individuals who will contribute to the U.S. economy through spending and taxation. His administration has positioned the gold card as an elite alternative to traditional green cards, branding it as a more direct and financially beneficial option for the country. The idea of selling U.S. residency for a hefty sum, however, has left many middle-class investors worried.
The EB-5 program had been a popular avenue for Indians, particularly those on H-1B visas seeking permanent residency. Given the prolonged wait times—sometimes extending beyond 50 years for certain categories—many had considered investing through EB-5 as a way to speed up their green card process. Now, with a dramatically higher financial threshold, the gold card is expected to limit accessibility to only the ultra-rich.
Commerce Secretary Howard Lutnick confirmed that the EB-5 program would be replaced within two weeks. Trump criticized the existing program, calling it inefficient and prone to fraud. While EB-5 investments often supported real estate developments and rural job creation projects, concerns had been raised about the misuse of funds and the program’s effectiveness. By setting a flat $5 million price, the new initiative eliminates the requirement to invest in specific projects, making the process simpler but also more exclusive.
The eligibility criteria for the gold card remain somewhat unclear, but U.S. officials have stated that applicants will undergo rigorous background checks. The announcement also touched on the potential inclusion of Russian applicants, particularly oligarchs facing economic restrictions due to Western sanctions. Trump suggested they could apply if they met the financial criteria, though additional scrutiny might be imposed.
For Indians currently on H-1B visas, the gold card may present an alternative—if they can afford it. While employment-based green cards remain an option, the long processing times continue to be a challenge. The new visa is expected to benefit India’s wealthiest entrepreneurs, tech executives, and industrialists who wish to bypass H-1B lotteries and green card backlogs. However, for most skilled professionals, the high cost makes it an impractical solution.
Trump’s administration anticipates selling up to a million gold cards, potentially generating billions to help reduce the national deficit. Unlike EB-5, which had a cap on applications, the gold card has no numerical limit, making it a purely revenue-driven program. Supporters argue that this will bring significant economic benefits, while critics worry that it prioritizes wealth over skill-based contributions.
As details of the program unfold, its long-term implications remain uncertain. For many Indians waiting in green card queues, the new policy signals yet another shift in U.S. immigration strategy—one that seems to favor deep pockets over decades of dedication.
