Introduction to the Gold Card Visa
On February 26, 2025, former U.S. President Donald Trump announced plans to introduce the ‘Gold Card’ visa, a new investment-based pathway to U.S. citizenship aimed at attracting wealthy foreign nationals. The minimum investment requirement for this visa is expected to be $5 million (₹44 crore).
The proposed Gold Card visa is being compared to the existing EB-5 Immigrant Investor Program, which has been a popular option for high-net-worth individuals (HNWIs) seeking U.S. residency.
How Does the EB-5 Visa Work?
The EB-5 Immigrant Investor Program, established in 1990, allows foreign investors (and their immediate family members) to obtain a Green Card through a capital investment in the U.S.
✔ Investment Requirement:
- $800,000 (₹7 crore) in a Targeted Employment Area (TEA) (rural or high-unemployment areas).
- $1.05 million for investments in non-TEA areas.
✔ Job Creation Requirement: Must create at least 10 full-time U.S. jobs.
✔ Processing Time: 3-5 years (varies based on country and backlog).
✔ Path to Citizenship: Investors can apply for U.S. citizenship after five years of permanent residency.
Gold Card vs. EB-5: Key Differences
| Feature | EB-5 Visa | Gold Card Visa (Proposed) |
|---|---|---|
| Minimum Investment | $800,000 – $1.05 million | $5 million |
| Investment Type | Regional center projects, business ventures | Unclear (capital markets, government securities, or business investments) |
| Job Creation Requirement | 10 U.S. jobs must be created | Unknown |
| Residency Status | Green Card (Permanent Residency) | Unknown (Citizenship possibility suggested) |
| Processing Time | 3-5 years | Unknown |
| Oversight & Regulation | Strict regulations under the EB-5 Reform and Integrity Act (2022) | Unclear oversight and monitoring |
| Target Audience | Global investors, entrepreneurs | Ultra-high-net-worth individuals (millionaires & billionaires) |
| Country of Origin Restrictions | Open to all countries | Open to all countries |
| Employer Sponsorship | Not required | U.S. companies might be able to sponsor candidates |
| Family Inclusion | Spouse and children under 21 get Green Cards | Unknown |
Potential Challenges for the Gold Card Visa
1. Feasibility of Attracting 1 Million Investors
Trump suggested that at least 1 million millionaires or billionaires would apply for the Gold Card. However, experts doubt such high demand, citing:
- The EB-5 visa program has received only ~70,000 applicants in over 30 years.
- The $5 million threshold is significantly higher than EB-5, limiting accessibility.
“The idea that a million people will jump in may be optimistic. The exact structure of the Gold Card visa is still unclear,” said Binu Varghese, Regional Director – India, RIF Trust.
2. Lack of Clarity on Investment Type
- The Gold Card visa may require direct investments, government fees, or a mix of both.
- Some experts speculate investments could be in:
- Capital markets (stocks, bonds).
- U.S. government securities.
- Real estate or business ventures.
- Without details, investors remain uncertain about the viability and risks.
3. Implications for Indians and RBI’s LRS Restrictions
- For Indians domiciled in India, the RBI’s Liberalised Remittance Scheme (LRS) limits foreign remittances to $250,000 per year.
- Meeting the $5 million investment requirement would require strategic planning over multiple financial years or alternative financial structures.
“Global Indians with overseas assets or NRIs may not face issues, but Indian HNIs may struggle under LRS rules,” immigration consultants noted.
Will the Gold Card Visa Replace EB-5?
U.S. Secretary of Commerce Howard Lutnick criticized the EB-5 program, calling it “poorly overseen and executed”, suggesting it may be modified or phased out.
However, the EB-5 Reform and Integrity Act (2022) ensures that:
✔ The EB-5 program remains valid until September 30, 2026.
✔ Existing EB-5 applicants are protected from sudden policy changes.
Short-Term Outlook
- EB-5 visa demand may increase as investors rush to apply before potential changes.
- The Gold Card visa could co-exist with EB-5, catering to different investor demographics.
“Both programs could continue separately, given the different investment thresholds and investor profiles,” Varghese said.
Should Investors Choose EB-5 or Wait for Gold Card?
✔ EB-5 is a proven route to U.S. residency, with lower investment requirements and a structured process.
✔ The Gold Card visa lacks clarity, but could provide faster citizenship (if confirmed).
✔ HNIs should watch for formal policy announcements before deciding.
- Final Recommendation:
For those seriously considering U.S. residency, applying for an EB-5 visa before 2026 remains a safer bet, while the Gold Card visa should be evaluated once official details emerge.
