What Does Trump’s $5 Million Gold Card Mean For Indians, Does It Replace EB-5 Visa? Explained
With more than 1 million Indians stuck in employment-based backlogs, the $5 million gold card visa offering US citizenship could limit their options
US President Donald Trump’s new “gold card" visa programme to attract wealthy investors by offering them residency permit for $5 million has sparked concerns among Indians who have been waiting for their green cards.
The initiative aims to replace the existing EB-5 Immigrant Investor Program and open a new pathway to US citizenship for high-net-worth individuals.
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With more than 1 million Indians stuck in employment-based backlogs, the shift towards the wealth-based immigration model could impact their options.
Let us understand what does the gold card visa offer, who will it benefit, how Indians will be impacted, what was the need to replace EB-5 visa.
What Is A Gold Card Visa?
The “gold card" visa will grant privileges of a green card and US citizenship for a fee of $5 million. Unlike the EB-5 investor visa programme that required an individual to make an investment of $800,000-$1.05 million in a business that would create 10 US jobs, the gold card has no such requisite.
“It’s going to be a route to citizenship, and wealthy people will be coming into our country by buying this card. They’ll be wealthy, and they’ll be successful, and they’ll be spending a lot of money and paying a lot of taxes," Trump told reporters in the Oval Office on Tuesday.
The idea behind launching a “gold card", positioned as an elite alternative to the traditional green card, is to generate significant revenue for the US government while drawing business leaders and job creators.
How Gold Card Will Impact Indian Applicants For Green Cards?
Indians have been among the top beneficiaries of the EB-5 investor visa programme, particularly H-1B visa holders seeking permanent residency.
Some of the backlogs for green cards exceed 50 years in some employment-based categories. The gold could bring reprieve by offering a faster route for wealthy Indians who can afford it, remove middle-tier investors who were part of the EB-5 visa programme to get green cards and shift focus on business tycoons instead of skilled professionals.
For Indians who planned to use EB-5, the $5 million investment cost would make gold card unaffordable. While EB-5 would require investors to pool funds or take loans, the gold card would require upfront cash, making the option more accessible to ultra-rich elite.
Why EB-5 Visa Programme Is Being Replaced?
US Commerce secretary Howard Lutnick confirmed that the gold card would replace the EB-5 visa programme in two weeks. Trump criticised the previous programme, calling it “full of nonsense, make-believe and fraud".
The EB-5 visa programme was set up in 1990 with the aim to promote capital investment and employment growth in the US. Yet, it has faced criticism over the years for suspected fraud, misuse, and shortcomings that allow investors to get residency without receiving the claimed financial benefits.
The EB-5 investors currently fall under two categories:
High-employment area projects: These are in major cities such as New York, New Jersey, Los Angeles, and Miami. They include multi-family residential buildings, mixed-use developments, and commercial real estate projects.
Rural projects: Located in areas with populations under 20,000, these allow investors to benefit from larger visa set-asides. They often include hospitality developments, multi-family projects, ski resorts, and industrial parks.
Both high-unemployment area projects and rural projects fall under targeted employment areas (TEA) designated by USCIS and require a minimum capital investment of $800,000.
Who Will Be Eligible For Gold Card Visa?
While the exact vetting process has not been fully detailed, US officials said applicants would undergo rigorous background checks before being approved for residency.
The gold card announcement also touched on the eligibility of Russian applicants, particularly oligarchs, some of whom have faced financial difficulties due to Western sanctions imposed after Russia’s invasion of Ukraine. Trump suggested that Russian businessmen could apply if they met the financial requirements, though he did not specify whether any exceptions or additional scrutiny would be applied to them.
The sales of the gold card could begin within weeks, though further details regarding implementation and oversight remain forthcoming, the US administration hinted.
Unlike EB-5, which had a cap, the gold card visa has no limit on issuance and is a purely revenue-driven scheme.
Can Indians On H-1B Visa Apply For Gold Card?
Anyone who can pay the fee of $5 million can apply for the gold card visa. This means companies may sponsor highly skilled employees, though details remain unclear.
The programme seems to favour India’s wealthiest entrepreneurs, tech executive and industrialists. Those who want to bypass the H-1B visa lotteries and EB-2/EB-3 backlogs could find the gold card an attractive option.
Indians who cannot afford the gold card visa can still try their luck with traditional employment-based green cards (EB-1, EB-2, EB-3) and the H1-B programme, although the processing time is long.
How Gold Card Would Benefit US?
According to Trump, the programme could sell up to a million cards, bringing in billions of dollars that could help reduce the national deficit. Unlike the EB-5 visa programme, which required foreign investors to commit a lower amount of capital into US businesses to create jobs, the gold card establishes a higher financial threshold, ensuring that only the wealthiest individuals can qualify.
Trump highlighted that the gold card would attract individuals who can contribute meaningfully to the US economy by creating businesses and generating employment opportunities.
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