Trump’s $5 million 'Gold Card' visa may shut out many Indian applicants
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Speaking at the Oval Office, President Trump described the initiative as an upgrade from the green card system, calling it «green card privileges plus.» He said the programme is expected to launch in two weeks. «We’re going to be selling a gold card. You have a green card. This is a gold card,» Trump told reporters. He added that the new scheme would attract successful individuals who will contribute significantly to the US economy. «They’ll be wealthy and they’ll be successful, and they’ll be spending a lot of money and paying a lot of taxes and employing a lot of people, and we think it’s going to be extremely successful.»
US Secretary of Commerce Howard Lutnick confirmed that the new programme would replace the EB-5 visa, which has long been a pathway for investors to obtain US permanent residency.
Impact on Indian applicants
The introduction of the gold card visa is expected to have significant implications for Indian applicants, particularly those who were relying on the EB-5 programme to secure US residency. Many high-net-worth individuals from India have used the EB-5 visa as a route to permanent residency, but the new $5 million investment requirement could make it inaccessible to a larger group of potential investors.
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The elimination of the EB-5 programme may also disadvantage
