Trump’s $5M gold card visa replaces EB-5, impacts Indian immigrants

Trump’s new immigration policy proposes replacing the EB-5 visa with a $5M ‘gold card’ visa, favoring wealth over job creation. How will this impact Indians stuck in green card backlogs?

Trump’s gold card visa vs. EB-5

Former US President Donald Trump has proposed a new immigration policy, replacing the EB-5 investor visa with a $5 million "gold card" visa. Unlike the EB-5 program, which required a minimum investment of $800,000–$1.05 million and the creation of 10 US jobs, the gold card visa eliminates the job creation requirement, making it a pure residency-for-money program.

Commerce Secretary Howard Lutnick announced that the gold card visa would replace EB-5 within two weeks. Trump slammed EB-5, calling it “nonsense, make-believe, and fraudulent.” This marks a huge shift in the US immigration landscape, with a focus on attracting high-net-worth individuals.

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Impact on Indian immigrants

Indians make up a massive portion of the US green card backlog, with some waiting over 50 years for employment-based permanent residency. The gold card visa could offer a faster alternative for India’s ultra-wealthy, but it excludes mid-level investors who previously relied on the EB-5 program.

“For Indians stuck in EB-2, EB-3 backlogs, this may shift the pathway to US residency in favor of billionaires and business tycoons rather than skilled professionals,” experts argue. This move could leave many employment-based green card seekers with limited options.

Shift from job creation to wealth

The EB-5 visa aimed to stimulate the US economy by requiring job creation, but the gold card visa eliminates this condition. Instead, it serves as a premium residency option targeted at wealthy individuals.

Trump stated, “We could potentially sell a million of these cards,” even proposing selling 10 million gold cards to reduce the US deficit. Unlike EB-5, which had a cap on the number of visas, the gold card program appears to have no numerical limit, making it a revenue-driven initiative.

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Challenges and legal concerns

Although Trump insists that the gold card visa does not require congressional approval, legal experts disagree. Potential lawsuits or legislative opposition could delay or block its implementation.

Key concerns include:

Uncertainty: Details on processing, vetting, and long-term benefits remain unclear.

Legal challenges: Congress or courts may challenge the legality of bypassing traditional visa regulations.

Financial accessibility: The five-fold increase in investment from $1 million (EB-5) to $5 million (gold card) may make it out of reach for many investors.

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Who benefits from the gold card visa?

The program primarily benefits India’s top business leaders, tech entrepreneurs, and industrialists. It offers an alternative to H-1B lotteries and lengthy green card backlogs, appealing to ultra-wealthy individuals seeking permanent residency without job creation constraints.

However, for the majority of Indian professionals on H-1B, EB-2, or EB-3 visas, the shift towards a wealth-based system presents more barriers than opportunities. For those already in the EB-5 process, reduced demand might improve their chances, but it remains uncertain how the transition will unfold.

A fast track for billionaires, a setback for others

Trump’s gold card visa is a bold move toward wealth-driven immigration, benefiting billionaires and corporate-sponsored talent. While it provides a quick pathway to US residency for India’s ultra-rich, it leaves most skilled professionals struggling with existing green card backlogs.

For the broader Indian diaspora, this shift raises concerns about fairness and accessibility, further complicating an already lengthy and challenging immigration system.

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