In a significant move, President Donald Trump announced that American companies can now hire Indian graduates from US universities under the new ‘gold card’ citizenship initiative. This announcement, a major boost for Indian students, follows the unveiling of the ‘gold card’ on Wednesday—a pathway to US citizenship for wealthy foreign investors willing to pay USD 5 million.
Trump emphasized the flaws in the current immigration system, which has prevented top international talent, particularly from India, from staying and working in the US. He highlighted how graduates from prestigious institutions like Harvard and the Wharton School of Finance often have job offers rescinded due to visa uncertainties.
Trump acknowledged the economic loss for the US as many talented graduates, forced to leave, become successful entrepreneurs in their home countries. “They go back to India, or they go back to the country where they came from, and they open up a company, and they become billionaires. They’re employing thousands of people,” he said.
The new gold card program is pitched as a premium version of the existing Green Card, offering long-term residency and a pathway to citizenship. Trump framed the initiative as a revenue generator for the US economy, suggesting that selling a million gold cards could bring in USD 5 trillion, potentially helping to pay off national debt.
This plan would replace the existing EB-5 visa program, which grants residency to investors who spend at least USD 1 million on businesses that employ ten or more people. Trump believes the gold card will be a game-changer, attracting wealthy and successful individuals who will contribute significantly to the US economy.
The program, driven by Trump’s ‘everything’s business’ mindset, is expected to come into effect by April, with around 10 million gold card visas initially available.
Gold Card vs. EB-5 Visa: Key Differences
The proposed ‘gold card’ visa significantly raises the financial threshold to USD 5 million, five times the EB-5 requirement, offering a faster and more streamlined path to US residency. Unlike the EB-5 scheme, which requires job creation and has faced allegations of fraud and misuse, the gold card eliminates the job creation mandate, making it a hassle-free option for wealthy investors.