Trump unveils $5 million ‘gold card visa’ to lure wealthy and educated to US
US President Donald Trump has announced a plan to offer a USD 5 million ‘gold card visa’ to wealthy foreigners and highly educated specialists, aiming to attract global elites who can contribute significantly to the American economy. This initiative is expected to lure away the wealthy and educated from other countries, including India.
The US plans to start issuing these visas within two months, anticipating millions of people to take advantage of the opportunity. Currently, the US offers an EB-5 visa for investors, requiring a minimum investment of USD 1.8 million. Under Trump’s new plan, this amount has more than doubled.
Trump stated that the proposed ‘gold card’ initiative will allow American companies to hire Indian graduates from top US universities like Harvard and Stanford. The current immigration system has hindered top international talent, especially from India, from staying and working in the US.
Trump emphasised that many talented graduates who were forced to leave the US became successful entrepreneurs in their home countries. “I want to be able to have that person stay in the country,” Trump added. “We are going to give you green card privileges, plus it’s going to be a route to citizenship.”
US Commerce Secretary Howard Lutnick said the “Trump Gold Card” would replace the EB-5 visa, created by Congress in 1990 to stimulate the US economy. Investors’ visas are common worldwide, with over 100 countries offering “golden visas” to wealthy individuals, including UK, Spain, Greece, Malta, Australia, Canada and Italy.
In 2024, approximately 2.16 lakh Indians renounced their citizenship, while international agencies estimate that almost 9,000 high net worth individuals have exited India for other countries.
