President Donald Trump’s proposal to introduce a $5 million “gold card” visa as a substitute for the EB-5 investor program has sparked main considerations 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 might drastically reshape their choices.
Right here is an explainer FAQs:
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 normal EB-5 investor visa, which requires a $800,000-$1.05 million funding in a 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 possibility for rich people.Q: How will the gold card affect 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 might:
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 solely 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 $5 million to pay for it. Trump described the gold card as a “street 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 means that firms may additionally sponsor extremely expert staff, 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 enhance in funding price (from $1 million to $5 million) might make it unaffordable. Whereas EB-5 traders might 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 will likely be accessible, and can there be a cap like EB-5? Trump claimed, “We’ll have the ability to promote possibly 1,000,000 of those playing cards,” and even steered promoting 10 million to scale back the US deficit. In contrast to EB-5, which had a cap, the gold card seems to don’t have any numerical restrict—it’s purely a revenue-driven scheme. Q: Might 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 need to bypass H-1B visa lotteries and EB-2/EB-3 backlogs might discover this a sexy different. Nevertheless, its lack of readability round job creation, enterprise funding, and processing time raises considerations. Q: Will the gold card want congressional approval, or can Trump implement it straight? Trump mentioned that congressional approval will not be required, however authorized specialists disagree. If lawsuits or political opposition come up, implementation could possibly be delayed or blocked—one thing Indian candidates ought to contemplate earlier than committing funds.Q: What are the dangers related to the gold card?
Q: What different choices do Indians have if the gold card is just too costly? For these 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, doubtlessly enhancing their probabilities. Is the gold card a game-changer for Indians? The gold card presents a fast-track residency possibility—however just for India’s ultra-rich. For the broader Indian diaspora, particularly H-1B holders and EB-5 traders, it indicators 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 slightly than an answer.(With inputs from businesses)
