Trump’s $5 Million Gold Card: Will it make US citizenship harder for Indians?

Trump’s $5 Million Gold Card: Will it make US citizenship harder for Indians?

KAKALI DAS

If you want an American citizenship, you might have a chance—but it comes at a hefty price. Donald Trump has just unveiled a new Gold Card Visa, with one of his team members even referring to it as “The Trump Gold Card.”

It’s a new Gold Card that essentially functions as a purchasable Green Card, paving the way for American citizenship—but at a staggering price of $5 million. To put that into perspective, $5 million equals approximately ₹43.5 crore, based on the current exchange rate.

What exactly is this Gold Card announcement about? Let’s break down what it entails and how it might impact Indian citizens or NRIs currently on H-1B visas awaiting their Green Cards, and whether this will make any difference to their situation.

President Trump now plans to introduce a Gold Card Visa, which will replace a previous investor visa. As he put it, “They will be wealthy, they will be successful, they will be spending a lot of money, paying a lot of taxes, and creating opportunities for many people. We think it’s going to be extremely successful.”

True to his signature style of making big announcements, he didn’t reveal any concrete details about the Gold Card. From what we understand, the specifics are still being finalized.

While the US Secretary of Commerce Howard Lutnick gave us some insight, stating that the Gold Card will replace the EB-5 visa in two weeks, the EB-5 visa was originally created by the U.S. Congress in 1990 to encourage foreign investments. It allowed individuals to invest between $800k and $1 million in a company that hires at least 10 people in a targeted employment sector—an area the government aimed to promote.

Lutnick further clarified that the Gold Card is essentially a Green Card you can purchase, offering permanent legal residency. The Green Card, often mentioned in discussions, is a permanent residence visa for the U.S. and serves as the final step before gaining citizenship.

According to Lutnick, this effectively raises the price of admission for investors while eliminating what he called “fraud and nonsense” in the current EB-5 program. He emphasized that there has been significant misuse of the EB-5 Visa and assured that, like other Green Cards, the Gold Card will include a pathway to U.S. citizenship.

Standing alongside Donald Trump, Lutnick stated that this new program will replace the government’s EB-5 Visa, enabling foreign investors to inject capital into American projects, generate jobs, and apply for visas to immigrate to the U.S.

The Commerce Secretary also mentioned that applicants will undergo a waiting process to ensure they are “wonderful, world-class global citizens.” However, it was unclear what exactly qualifies someone as such, as no specific criteria were provided.

Interestingly, when the topic came up, one journalist asked Trump whether he expected many Russian oligarchs to take advantage of this program. In response, Trump simply said, “I know a lot of oligarchs. They are very nice people.”

It’s worth noting that Trump has recently shifted America’s stance on the Russia-Ukraine war. He has refrained from calling Vladimir Putin a “dictator” and instead criticized Ukraine for wasting money. At this point, Trump doesn’t seem particularly opposed to Russian oligarchs.

However, he has not provided any concrete details on the eligibility criteria for this new visa or whether there will be a cap on the number of Gold Cards issued. In contrast, the previous EB-5 Visa program had a set limit on the number of visas granted.

Trump also made a remark that seemed like a joke—but with him, it’s always hard to tell. He said, “If the federal government could sell 10 million Gold Cards, it would reduce the deficit.”

But 10 million millionaires immigrating to America? That raises a big question—just how much wealth would they actually bring into the country?

Aside from repeatedly calling it “great, fantastic, and wonderful”—as he often compliments himself—Trump described the new Gold Card as a more sophisticated version of the Green Card. He said it serves as a pathway to citizenship for people, particularly those with wealth and exceptional talent.

He further explained, “People of wealth will pay for those of talent to get in,” meaning that companies would fund individuals to enter the U.S. and secure long-term residency in the country.

This part is puzzling. Is Trump suggesting that large corporations will pay $5 million to secure this status for a talented professional within their organization? That seems like an incredibly high ask, yet he appeared confident that it could happen. He even claimed that in just two weeks, millions of these Gold Cards would be available on the market.

However, America isn’t the first country to introduce such a program. In fact, they already had a version of this before—they’ve simply raised the price.

According to Henley & Partners, more than 100 countries offer similar programs. The UK, Canada, Australia, and several European nations have Golden Visas designed to attract wealthy individuals. In the UAE, there is also a Golden Visa, but it isn’t solely wealth-based—it is often linked to talent or the value an individual can bring to the country.

Historically, the U.S. placed a cap on the number of EB-5 visas issued. However, it remains unclear whether there will be any cap on the new Gold Card program.

Here’s the question: What impact will this have on the Indian immigration landscape, especially for those currently waiting in line for a Green Card?

The Gold Card will likely leap to the top of the priority list from the American perspective, as it targets individuals who are willing to pay for their entry. This means it will offer faster and more streamlined access compared to existing pathways, such as the H-1B or EB-5 Visas.

Indian nationals already in line for a Green Card can opt to apply for the Gold Card, but it comes at a hefty price. Meanwhile, India continues to dominate the work visa scene, particularly through the H-1B program.

Data from 2024 shows that 3.9 lakh H-1B Visas were approved across approximately 52,000 companies, with Infosys and TCS being the top recipients. As for Green Cards—permanent residency—there are currently 1 million (10 lakh) Indians waiting in line, according to the U.S. Citizenship and Immigration Services.

Based on employment-based categories, the number of Indian applicants is projected to reach 21.9 lakh by the financial year 2030. Indians already make up the second-largest immigrant group in the U.S. after Mexicans, and as of 2022, the country was home to 4.8 million Indian Americans.

The introduction of the Gold Card system is likely to disrupt this long-standing queue. Many applicants have already been waiting in line, and the process from an H-1B visa to a Green Card—and then from a Green Card to citizenship—typically takes about 3 to 5 years for each stage. In total, this means a wait time of around 7 years, or in some cases even up to 10 years, to transition from an H-1B visa to U.S. citizenship.

The introduction of the Gold Card is likely to extend wait times even further, as those who can afford it will move straight to the front of the line.

There has been some buzz on social media in India, given the country’s growing number of newly minted millionaires who might find this offer appealing. However, at $5 million per person, it remains a significant financial commitment—especially since many Indians prefer to immigrate with their entire family. At that price per head, the cost quickly becomes astronomical.

The Gold Card system has already faced considerable criticism. One major argument is that it signals a clear shift in priorities—under Trump, America appears to be more interested in wealth than talent. With a $5 million price tag and potentially millions of these visas being sold, the system effectively excludes middle-class professionals, skilled workers, and students.

Some might argue, “America has the right to decide who it welcomes; it doesn’t have to accept everyone who wants to come.” That is true. However, America has long prided itself on a different philosophy: “Bring me your huddled masses, those who seek the American Dream, who want to work hard and contribute.” This new system, however, seems to stand in direct contrast to that ideal.

Trump has consistently argued that merit should be the most important factor in immigration. He has even opposed birthright citizenship, insisting that citizenship should be based on merit and talent.

However, there seems to be a contradiction here—wealth and merit are not necessarily the same. Just because someone can afford to buy their way in doesn’t mean they will add significant value to the country.

The biggest challenge, of course, is the question of Russian oligarchs—but the issue is much broader than that. What kind of money is the U.S. inviting if there are no clear vetting processes in place?

Trump has already made it fairly clear that he is not a strong critic of global corruption; he seems comfortable with it as long as it “gets the job done.” This raises serious concerns—will this program attract corrupt billionaires and oligarchs from Russia, China, and the Middle East? Will it open the door for individuals who built their fortunes through illicit activities like drug cartels and organized crime? And if so, will such individuals be granted entry into the U.S. without strict scrutiny?

There has been no clear indication of how the U.S. plans to address this issue or whether it could pose a national security risk.

From India’s perspective, the biggest concern is that this system may side-line highly skilled workers and entrepreneurs—individuals who prefer to build from the ground up. If they are pushed further down the priority list, it will undoubtedly impact Indian citizens and NRIs currently waiting for their Green Cards. These are the very professionals and innovators that India has been sending overseas for decades.

One key aspect to watch is what Trump actually means when he calls this a “route to citizenship.” Will it grant full citizenship, or will it come with restrictions—perhaps excluding voting rights or political participation?

There is also a broader risk to consider. Allowing a large influx of powerful and wealthy individuals into the country could shift the political landscape. With more ultra-wealthy figures gaining residency or citizenship, they could start running for office or wielding greater influence over U.S. politics—much like Elon Musk, for example. Is this the future that America is actively moving toward?

Finally, there is the growing gap between the ultra-wealthy and the working class—where the very poor in this equation will be American citizens themselves. Trump has always positioned himself as a champion of American workers, but at this point, he seems more aligned with the interests of the wealthy. These are two fundamentally different things.

So where does that leave the average American worker if the government prioritizes billionaires? Trump’s administration has already demonstrated this pattern, appointing billionaires to key positions across his government. This means decision-makers are thinking like billionaires, making policies that benefit billionaires, and shaping the system from a perspective that lacks diversity—because, at the end of the day, they are all part of the same ultra-rich elite.

Many of the proposed cuts within the government are targeting assistance for the poorest, while decisions are being made that largely benefit the wealthiest. So, what does this mean for the broader societal scene in the U.S.?

The Gold Card system may offer financial benefits to the U.S., but the real question is: how many of these $5 million cards need to be sold for the country to see a tangible positive impact, both in the short and long term? And if the focus shifts away from talent and hard work—qualities that have contributed to building the nation over the past centuries—what will be the long-term consequences for the country?

For Indians, however, this move makes the immigration journey even more challenging, unless you happen to have ₹43 crore lying around to expedite the process.

Headline Image: marketwatch.com

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