Gold Card Visa: Trump’s $5 Million Proposal to Streamline US Citizenship for Investors

US President Donald Trump has unveiled a proposal for a new visa, dubbed the “gold card,” which would offer a path to US citizenship for investors willing to pay $5 million. This new visa would replace the existing EB-5 investor visa, a program that has been in place for over 35 years and has generated significant foreign investment into the US.

Commerce Secretary Howard Lutnick confirmed that the "Trump Gold Card" would officially replace the EB-5 visa program in just two weeks. The EB-5 visa was established by Congress in 1990 to encourage foreign investment, requiring individuals to invest between $800,000 and $1.05 million in a business that creates at least 10 American jobs.

The new gold card visa, however, would raise the investment requirement to $5 million, eliminating the job creation mandate that currently defines the EB-5 program. Lutnick emphasised that the gold card would offer an immediate path to citizenship, cutting out the long wait times associated with other green card routes. “This is going to get rid of the fraud and nonsense that have characterized the EB-5 program,” Lutnick added.

In his announcement, President Trump suggested that the government could sell up to 10 million gold cards, potentially helping to reduce the national deficit. Trump called the initiative “great” and mused that it “could be fantastic.”

The Trump administration’s proposal presents significant differences when compared to the current EB-5 visa program. Under the existing system, an investor must spend between $800,000 and $1.05 million to qualify for the visa, which comes with a requirement to create 10 US-based jobs. This process typically takes five to seven years and often involves a lengthy backlog, especially for Indian nationals, who are known to experience delays of 7-10 years or longer.

In contrast, the new gold card visa would require a $5 million investment, but without the job creation requirement. Additionally, the gold card offers an immediate pathway to citizenship, without the extensive wait times associated with the EB-5 or other visa programs. The proposed gold card visa is expected to bypass the existing backlog, a significant benefit for investors, especially those from India.

For India’s wealthiest individuals, this visa could be a game-changer, providing a much quicker and simpler path to US residency than the existing options, including the EB-5 visa or the prolonged H-1B to green card process. However, the hefty $5 million price tag means that only the super-rich may be able to afford this shortcut to American residency.

While the gold card visa offers a faster route to citizenship, it raises questions about the future of the EB-5 program. If the proposal goes through, the gold card will replace the EB-5 visa, leaving many prospective investors with fewer options.

Indians already on H-1B or EB-2/EB-3 visas will be eligible for the gold card, provided they can meet the investment requirement. This presents an alternative path to citizenship for those who can afford the cost but may not want to endure the job creation requirements or long wait times associated with other immigration routes.

For those unable to afford the gold card, other US immigration options remain. The EB-5 visa, for example, could still be available until the gold card is officially implemented. The EB-5 visa offers a green card in 3-5 years, though it still carries the job creation requirement and is subject to longer wait times if demand rises.

Other alternatives include the O-1 visa for highly skilled individuals in fields like technology, research, arts, and business, which can eventually lead to a green card. The L-1 visa is another option for business owners and executives looking to expand operations in the US.

Lastly, Indian tech workers on H-1B visas can pursue the EB-2 or EB-3 green card route, although this process is often plagued by long delays, sometimes extending over several decades. While these alternatives remain, the gold card visa could potentially provide a faster route for those with the financial means.