US President Donald Trump recently revealed a new visa called the “Gold Card” that could give investors a quicker way to become US citizens. This card will cost $5 million and will replace the old EB-5 visa, which is a program that allowed investors to get green cards by funding businesses in America.
The EB-5 visa has been around since 1990 and required a $1 million investment plus the creation of 10 jobs in the US. In contrast, the Gold Card doesn’t require job creation, and it allows investors to skip the long waiting times associated with traditional green cards, especially for Indian nationals.
Commerce Secretary Howard Lutnick said the Gold Card will officially replace the EB-5 visa in two weeks. With the Gold Card, investors can get green cards (which means they can live and work in the US permanently) much faster—possibly even immediately after paying the $5 million fee.
Here’s a quick comparison:
– EB-5 Visa:
– Costs: $800,000 – $1.05 million
– Jobs: Must create 10 US jobs
– Path to Citizenship: Takes 5-7 years
– Wait for Indians: 7-10+ years due to high demand
– Trump’s Gold Card:
– Costs: $5 million
– Jobs: No job creation needed
– Path to Citizenship: Immediate
– Wait for Indians: No wait, pay directly
While the Gold Card offers a fast track to US residency, it comes with a hefty price tag that makes it only possible for the richest individuals. If you’re not in the super-rich category, there are still other options to consider for US immigration.
Other Immigration Options for Indians:
– EB-5 Visa: If still available, can cost $800,000 and takes 3-5 years.
– O-1 Visa: For highly skilled professionals in fields like tech and art.
– L-1 Visa: For business owners and company executives.
– H-1B to EB-2/EB-3: The traditional route, but can take a very long time.
In short, the Gold Card visa could change the game for wealthy investors looking to live in the US, but it’s not for everyone.
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