In a bold move, U.S. President Donald Trump has unveiled plans for a new “gold card” visa, designed to provide a quicker path to U.S. citizenship for a hefty investment of $5 million. This proposal seeks to replace the long-standing EB-5 visa program, which has been in place for 35 years and is a significant concern for many Indian nationals eager for U.S. green cards.
Commerce Secretary Howard Lutnick elaborated on the proposal, stating that the “Trump Gold Card” is expected to replace the EB-5 visas within the next two weeks.
Established by the U.S. Congress in 1990, the EB-5 program allowed foreign individuals to gain residency by investing between $800,000 and $1.05 million USD in U.S. businesses that create at least 10 American jobs. However, the new gold card initiative aims to eliminate job creation mandates, streamlining the residency process for high-net-worth investors.
While Trump failed to specify job creation requirements in his announcement, he expressed optimism that the federal government could sell up to 10 million gold cards, potentially bolstering the deficit. He described the initiative as potentially “fantastic,” highlighting a significant shift in immigration policy.
The key differences between the two visa options are striking. The EB-5 visa requires a lower investment and has a lengthy path to citizenship of 5-7 years, complicated further by a backlog for Indian applicants that can last a decade or more. In contrast, the proposed gold card calls for a $5 million investment, offers an immediate pathway to citizenship, and eliminates any backlog, although it is accessible only to the wealthiest individuals.
For many affluent Indians, this new visa could represent a faster and more straightforward route to permanent U.S. residency compared to the existing pathways. However, the steep financial barrier means that only the wealthiest can realistically consider this option.
Current holders of H-1B, EB-2, or EB-3 visas may also apply for this proposed gold card, provided they meet the investment requirement. For those who find this new option unattainable, traditional routes such as the EB-5 visa (if still available), O-1 visa for individuals with extraordinary abilities, or H-1B to EB-2/EB-3 processes remain as alternatives for skilled Indian workers seeking U.S. residency.