$5 Million Price Tag Makes It Unattractive Compared to Cheaper Alternatives
New Delhi – The recently introduced US Gold Card visa, a $5 million investment-based residency program championed by Donald Trump, is too expensive and impractical for Indian investors, according to Rishabh Shroff, a partner at Cyril Amarchand Mangaldas, one of India’s leading law firms.
Speaking at the India Today Conclave 2025, Shroff criticized the steep price tag, arguing that there are cheaper alternatives in other countries that offer similar residency benefits.
“It’s incredibly expensive. What was $800,000 a few months ago is now ₹43 crore. Just the absolute number itself causes a bit of sticker shock,” Shroff remarked.
He pointed out that countries like Malta offer residency programs at a fraction of the cost.
“You can get the same thing in Malta for $650,000. Why would you pay $5 million for essentially the same level of access?” he asked.
Who Benefits from the Gold Card Visa?
Shroff emphasized that the Gold Card visa only makes sense for those who actively want to live and do business in the US.
“If you’re just an Indian businessman with a foreign passport, it doesn’t make economic sense to get a US Gold Card. I don’t see many opting for it, though some wealthy families may consider it,” he added.
What is the US Gold Card Visa?
The US Gold Card visa was introduced by Donald Trump in February 2025 as a replacement for the long-standing EB-5 visa program, which had been in place for 35 years.
Key Differences Between EB-5 and the Gold Card Visa:
| Feature | EB-5 Visa (Old Program) | Gold Card Visa (New Program) |
|---|---|---|
| Investment Requirement | $800,000 – $1 million | $5 million |
| Investment Type | Required in job-creating US businesses | Direct payment to the US government |
| Residency Status | Provides permanent residency (Green Card) | Offers a more privileged status (as described by Trump) |
| Path to Citizenship | Yes | Yes |
| Tax Obligation | Must pay US taxes on global income | Must pay US taxes on global income |
Trump’s Justification for the Gold Card Visa
In his first joint address to the US Congress after returning to the White House in January 2025, Trump praised the initiative, calling it:
“Like the Green Card, but better and more sophisticated.”
He further stated:
“For $5 million, we will allow the most successful job-creating people from all over the world to buy a path to US citizenship. It’s like the Green Card, but better and more sophisticated. These people will have to pay tax in our country.”
Why Indian Investors Are Unlikely to Choose the Gold Card Visa
- High Cost – At $5 million (₹43.54 crore), the visa is significantly more expensive than other global residency programs.
- Lack of Business Investment Requirement – Unlike the EB-5 program, which allowed investors to place funds into US businesses, the Gold Card visa requires a direct payment to the US government, making it less attractive for entrepreneurs.
- Better Alternatives – Countries like Malta, Portugal, and the UAE offer similar residency and business benefits at a fraction of the cost.
- Tax Burden – Gold Card holders would still be subject to US global taxation, which could be a major deterrent for Indian investors.
Not Worth It for Most Indians
While the US Gold Card visa provides a fast-track route to American residency, its $5 million price tag makes it unappealing for most Indian investors, who have cheaper and equally beneficial options elsewhere.
As Shroff summarized:
“If you’re not planning to live in the US permanently, this visa makes no sense.”
With India’s wealthy investor class increasingly looking at global mobility options, the US may struggle to attract them under the Gold Card visa scheme.
