President Donald Trump’s proposal to introduce a $5 million “gold card” visa as an alternative for the EB-5 investor program has sparked main issues amongst Indian nationals ready for US inexperienced playing cards. With over 1 million Indians caught in employment-based backlogs—some for over 50 years—the shift towards a wealth-based immigration mannequin may drastically reshape their choices.
Right here is an explainer FAQ:
Q: What’s the ‘gold card’ visa, and the way does it differ from a standard, inexperienced card?
President Donald Trump has proposed a brand new “gold card” visa, which might grant inexperienced card privileges and a pathway to US citizenship for a $5 million charge. In contrast to the standard EB-5 investor visa, which requires $800,000-$1.05 million in funding in an enterprise that creates at the very least 10 US jobs, the gold card has no such job creation requirement. As an alternative, it’s being positioned as a premium residency choice for rich people.
Q: How will the gold card impression Indian nationals ready for inexperienced playing cards?
Indians are among the many largest teams ready for US inexperienced playing cards, with backlogs exceeding 50 years in some employment-based classes. The gold card may:
- Provide a quicker route for rich Indians who can afford it.
- Exclude middle-tier buyers who beforehand used EB-5 as a substitute for employment-based, inexperienced playing cards.
- Shift focus from job creation to wealth, favouring Indian enterprise tycoons over expert professionals.
Q: Will the gold card substitute the EB-5 investor visa program?
Sure. Commerce secretary Howard Lutnick confirmed that the gold card would substitute EB-5 in two weeks. Trump criticized EB-5, calling it “filled with nonsense, make-believe, and fraud.” Whereas EB-5 required job creation, the gold card is just a direct buy of US residency and citizenship eligibility.
Q: Can Indians at the moment on H-1B or EB-2/EB-3 visas apply for the gold card?
Sure, if they’ve got $5 million to pay for it. Trump described the gold card as a “highway to citizenship for individuals of wealth or individuals of nice expertise, the place individuals of wealth pay for these individuals of expertise to get in.” This implies that firms can also sponsor extremely expert workers, although particulars stay unclear.
Q: How will this have an effect on Indians who had been contemplating the EB-5 visa?
For Indians who deliberate to make use of EB-5, the fivefold improvement in funding price (from $1 million to $5 million) may make it unaffordable. Whereas EB-5 buyers may pool funds or take structured loans, the gold card appears to require upfront money, limiting accessibility to India’s ultra-rich elite.
Q: What number of gold playing cards can be accessible, and can there be a cap like EB-5?
Trump claimed, “We’ll be capable of promoting perhaps 1,000,000 of those playing cards” and even prompt promoting 10 million to scale back the US deficit. In contrast to EB-5, which had a cap, the gold card seems to haven’t any numerical restrictions—it’s purely a revenue-driven scheme.
Q: May Indian tech CEOs, startup founders, or enterprise leaders profit from the gold card?
Sure. This system appears tailor-made for India’s wealthiest entrepreneurs, tech executives, and industrialists. Those that wish to bypass H-1B visa lotteries and EB-2/EB-3 backlogs may discover this a sexy different. Nonetheless, its lack of readability around job creation, enterprise funding, and processing time raises issues.
Q: Will the gold card want congressional approval, or can Trump implement it instantly?
Trump stated that congressional approval just isn’t required; however, authorized consultants disagree. If lawsuits or political opposition come up, implementation may very well be delayed or blocked—one thing Indian candidates ought to think about earlier than committing funds.
Q: What are the dangers related to the gold card?
- Uncertainty: Particulars on processing, vetting, and long-term advantages are nonetheless obscure.
- Authorized challenges: Congress or courts might problem its legality.
- Affordability: At $5 million, it excludes many Indians who may afford EB-5, however, not this steep bounce.
Q: What different choices do Indians have if the gold card is just too costly?
For those unable to afford the gold card, conventional employment-based inexperienced playing cards (EB-1, EB-2, EB-3) and the H-1B visa stay choices, though processing instances are lengthy. If the gold card considerably reduces EB-5 curiosity, Indians already within the EB-5 pipeline might have fewer opponents, probably bettering their probabilities.
Is the gold card a game-changer for Indians?
The gold card presents a fast-track residency choice—however just for India’s ultra-rich. For the broader Indian diaspora, particularly H-1B holders and EB-5 buyers, it alerts a shift towards wealth-based immigration, leaving most to navigate the backlogged employment-based system. Whereas it could be a sexy shortcut for billionaires and corporate-backed expertise, for almost all, it represents a roadblock rather than an answer.
(With inputs from businesses)
