Trump’s ‘Gold Card’ US Visa: $5 Million Pathway to Citizenship, Replacing EB-5 Program

On Tuesday, February 25, 2025, President Donald Trump unveiled a new initiative aimed at attracting affluent foreign nationals to the United States: the "Gold Card" residency permit. This program proposes to grant permanent U.S. residency to individuals who contribute $5 million, offering a streamlined pathway to American citizenship. The introduction of the Gold Card is set to replace the existing EB-5 Immigrant Investor Program in the coming months.

Understanding the EB-5 Visa Program

Established by Congress in 1990, the EB-5 visa program was designed to stimulate the U.S. economy through job creation and capital investment by foreign investors. Applicants were required to invest a minimum of $1.8 million—or $900,000 in targeted employment areas—and demonstrate the creation of at least ten full-time jobs for U.S. workers. Over the years, this program became a popular avenue for many high-net-worth individuals, including a significant number of Indian nationals, to secure U.S. permanent residency.

The Shift to the Gold Card Residency Permit

The newly proposed Gold Card residency permit significantly increases the investment threshold to $5 million, focusing on attracting the world's wealthiest individuals. President Trump emphasized the program's potential economic benefits, stating, "Wealthy people will be coming into our country by buying this card; they'll be wealthy and successful, spending a lot of money, paying a lot of taxes, and employing a lot of people." Commerce Secretary Howard Lutnick further criticized the EB-5 program as "nonsense," describing it as "a way to get a green card that was low price." He highlighted the administration's intent to replace it with the more lucrative Gold Card initiative. citeturn0news0

Implications for Indian Nationals

The introduction of the Gold Card residency permit is poised to have significant implications for Indian nationals seeking U.S. permanent residency:

Increased Financial Requirement: The $5 million investment criterion may limit eligibility to only the most affluent individuals, potentially excluding many prospective applicants who previously qualified under the EB-5 program's lower investment thresholds.
Streamlined Pathway to Citizenship: For those who can meet the financial requirements, the Gold Card offers a more direct route to U.S. citizenship, potentially reducing the waiting times and bureaucratic hurdles associated with other visa categories.
Impact on H-1B Visa Holders: Many Indian professionals currently on H-1B visas have utilized the EB-5 program as a pathway to permanent residency. The increased investment requirement may make this route less accessible, prompting individuals to explore alternative immigration options.

Global Context and Future Considerations

The concept of "golden visas" or investment-based residency programs is not unique to the United States. Countries worldwide have implemented similar initiatives to attract foreign capital. However, these programs have faced criticism and controversy, particularly concerning security concerns and the potential for facilitating tax evasion. A 2023 study highlighted that citizenship-by-investment programs could increase tax evasion, leading to increased scrutiny and reforms in several nations.

As the U.S. transitions from the EB-5 program to the Gold Card residency permit, it will be essential to monitor how these changes impact foreign investment inflows and the broader U.S. economy. Prospective applicants, especially from countries like India with a high demand for U.S. residency, should stay informed about the evolving immigration landscape to make well-informed decisions about their residency and citizenship aspirations.

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