A profitable ‘bargain’?
US President Donald Trump’s new immigration plan has sparked a serious debate across the world. His idea to introduce a ‘gold card’ visa for a USD 5 million investment is meant to replace the existing EB-5 visa programme. The EB-5, created in 1990, allowed foreign investors to gain permanent residency in the United States by investing in businesses that created jobs. Trump’s new ‘gold card’ visa plan removes the job creation requirement but, at the same time, will raise the price significantly. The new programme is being pitched as a novel and historic way to attract wealthy individuals from across the globe who can afford the exorbitant price tag. Trump and his Commerce Secretary, Howard Lutnick, have floated an argument that the EB-5 programme is outdated, prone to fraud, and significantly undervalues the US residency. By increasing the investment requirement, the US administration believes that the new system will be more efficient and contribute directly to the development of the American economy. Trump has even gone on to suggest that selling millions of these visas could help the United States reduce its national debt.
For wealthy Indians and other foreign investors, the ‘gold card’ seems to offer a fast track to US residency. Unlike the EB-5 visa, which has comparatively longer wait times and strict investment criteria, the new proposal provides almost immediate access for those who can afford it. However, the steep cost makes it out of reach for most of the immigrants who previously sought green cards through skilled worker programmes or investment routes. Many people are also concerned that the new proposal prioritises money over merit, as it lacks requirements for job creation or contributions to the economy beyond the initial investment.
Beyond economic impacts, the ‘gold card’ visa plan can also have adverse geopolitical influences. Trump’s casual response to whether Russian oligarchs could qualify for the visa has raised eyebrows among sceptics. In fact, the US president has openly acknowledged that they (oligarchs) might be eligible for a ‘gold card’ visa. He even mentioned about knowing some ‘very nice’ oligarchs from Russia. This undoubtedly raises concerns about who might benefit from the programme and whether it could open doors for questionable figures looking for US residency.
Critics argue that Trump’s new approach treats US citizenship like a commodity that is available only to the highest bidders from the affluent class. They worry that it sets a precedent where wealth alone—rather than skills, business contributions, or cultural integration—determines who gets to live in the United States. Others, however, see it as a pragmatic solution to fund government initiatives and attract high-net-worth individuals who could bring their wealth into the US economy. As of now, details remain unclear. It is not yet known how many ‘gold cards’ will be issued, whether there will be any limits or exclusions, or how the funds will actually be used. The proposal has certainly stirred discussions on the ethics of selling citizenship, the value of American residency, and what kind of immigration policy best serves the country’s long-term interests. With further details expected in the coming weeks, this new visa programme is set to remain a hot topic in immigration and economic policy circles.
