What Is Gold Card Visa? How It Differs From The Green Card & Who Will Benefit!

US President Donald Trump has introduced the Gold Card Visa in U.S. immigration policy. It is a program designed to attract affluent investors by offering permanent residency in exchange for a big financial investment. The new gold card visa will replace the existing EB-5 Immigrant Investor Program.

What is Trump's Gold Card Visa?

The Gold Card Visa requires a USD 5 million (Rs. 43,00,00,000) investment from applicants, which will grant them permanent residency and a way to U.S. citizenship. This program is tailored especially for high-net-worth individuals capable of paying this huge sum of money. As per reports, these financial contributions will help grow the U.S. economy, create jobs, and reduce the national deficit.

Major Differences Between Gold Card Visa and Green Card Visa

While both the Gold Card and traditional Green Card offer permanent residency in the US, they differ fundamentally in their acquisition processes:

• The Gold Card Visa necessitates a USD 5 million investment, whereas the traditional Green Card visa is typically obtained through family sponsorship, employment, or the Diversity Visa Lottery, which does not require any mandatory investment.
• The Gold Card Visa provides a direct route for wealthy people to get the residency, while the green card is based on the merit or relationship criteria.
• The Gold Card Visa will replace the EB-5 program, which previously required a small investment. However, a lot of discrepancies and inefficiencies were reported.

Who Will Benefit From the Gold Card Visa

The primary beneficiaries of the Gold Card Visa are ultra-wealthy foreign nationals who are looking forward to getting U.S. residency. This can include investors from countries like India, where over a million nationals are currently stuck in Green Card backlogs. However, the high investment factor is only making this option accessible to a small, super-rich segment. The gold card visa plan is potentially sidelining skilled professionals and applicants from the middle class.

For Indian citizens, the Gold Card Visa has both pros and cons. On the positive side, it provides a quicker way to get U.S. residency-but only for the super-rich who can afford the USD 5 million investment. For most people who usually apply for a Green Card through a job, this new system won't be an option. Plus, with the EB-5 program being discontinued, those who were hoping to invest a smaller amount for a green card now have even fewer choices left.