Former U.S. President Donald Trump’s newly introduced Gold Card—an investment-based immigration initiative—is already making waves among immigration attorneys, investors, and critics of existing pathways like the EB-5 visa program.
While both programs cater to high-net-worth individuals aiming for U.S. residency, they differ significantly in structure, cost, and impact.
What Is the Gold Card?
Often referred to as the Trump Card, this new immigration proposal offers a fast-track to U.S. residency—and eventually citizenship—through a direct payment of $5 million to the U.S. government. Trump announced the program via his platform, Truth Social, and launched a dedicated website, trumpcard.gov, where interested individuals can join a waitlist.
Calling it “somewhat like a Green Card, but at a higher level of sophistication,” Trump promises a “beautiful road” to U.S. access. However, the card does not directly grant citizenship, and details about its legal framework and pathway to permanent residency remain vague.
Gold Card vs. EB-5 Visa: Key Differences
Feature EB-5 Visa Gold Card (Trump Card)
Investment Type Investment in a U.S. business Direct payment to U.S. government
Minimum Cost $1.05M ($800K in TEAs) $5 million flat
Job Creation Requires 10 full-time U.S. jobs No job creation requirement
Residency Path Green Card → Citizenship Claims to fast-track residency and citizenship
Annual Cap 18,786 visas per year No cap; targets ultra-wealthy individuals
With a $5 million price tag, the Gold Card is one of the world’s most expensive investment immigration options—nearly five times costlier than EB-5.
Growing Criticism and Concerns
While the Gold Card is pitched as a simplified and prestigious immigration pathway, it has drawn criticism on multiple fronts:
Ethical Questions: “It can be perceived as selling U.S. citizenship to the highest bidder,” said immigration attorney Alay Razvi.
No Job Creation: The lack of economic contribution requirements, such as job creation, makes it less appealing from a national interest standpoint.
No Employer Utility: Experts believe U.S. businesses are unlikely to sponsor or benefit from this route.
Affordability Doubts: “I’m unsure about the paying capacity of the people who will participate in this program,” said immigration lawyer Rajiv Khanna.
No Legislative Backing: Trump has admitted that the program doesn’t require congressional approval as it doesn’t directly provide citizenship—only “access.”
Can the Gold Card Replace EB-5?
Commerce Secretary Howard Lutnick recently suggested the Gold Card could replace the EB-5 visa. However, immigration experts strongly disagree.
“Trump cannot unilaterally end the EB-5 program. It was created by Congress in 1990 and is part of the Immigration and Nationality Act,” noted a senior immigration attorney. “Any effort to dismantle or replace it would require congressional approval—unlikely in today’s divided legislature.”
Moreover, EB-5 investments remain protected through at least September 2026, meaning current participants can proceed without fear of sudden policy shifts.
Why Indian Investors Are Cautious
India has long been a top market for EB-5 visas, especially for individuals facing lengthy employment-based green card wait times. Despite the Gold Card’s prestige and speed, Indian investors are approaching it with skepticism:
High Cost: The $5 million fee is a steep barrier, even for wealthy families.
Lack of Clarity: Absence of a clear legal pathway and policy framework raises concerns.
No Track Record: Unlike EB-5, the Gold Card is untested and politically volatile.
Conclusion
Trump’s Gold Card may appeal to ultra-high-net-worth individuals seeking an exclusive, accelerated path to the U.S., but its hefty price, ethical controversies, and legal uncertainties limit its broad appeal—especially among serious investors from markets like India. The EB-5 visa, despite its bureaucratic hurdles, remains the more stable and structured route for those seeking long-term U.S. residency.
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