How Trump’s ‘Gold Card’ Could Help Indian Students In US – wna24
How Trump’s ‘Gold Card’ Could Help Indian Students In US | Image:
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US President Donald Trump announced on Tuesday that he plans to introduce a new “gold card” visa, offering a pathway to citizenship for a USD 5 million investment. This visa would replace the current 35-year-old investor visa programme. Trump explained that the proposal aims to boost the US economy by providing a premium version of the Green Card, which grants permanent residency to eligible foreign nationals. The Gold Card would take the place of the EB-5 visa, which allows foreign investors to apply for a Green Card with an investment of approximately USD 1 million in the US.
There has been widespread concern across the political spectrum that President Trump’s proposed “Gold Card” scheme might essentially allow wealthy individuals to buy US citizenship or be used to park illicit funds. In defence of his proposal, Trump argued that the Gold Card would benefit American businesses. He stated that it would allow companies to support talented international students, particularly from countries like India, who have studied in the United States, and encourage them to stay and contribute to the workforce.
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“I get calls from, as an example, companies where they want to hire the No. 1 student at the school, a person comes from India, China, Japan, lots of different places, and they go to Harvard to Wharton School of Finance, they go to Yale, they go to all great schools and graduate number one in their class and they are made job offers,” the President said Wednesday as he convened the first full Cabinet meeting of his second term.
How ‘Gold Card’ Could Help Indian Students In US?
President Trump highlighted how the current immigration system has prevented top international talent, especially from countries like India, from staying and working in the US. He pointed out that many highly skilled students, after graduating from prestigious institutions like Harvard or the Wharton School of Finance, often face job offers being rescinded due to uncertainty about their immigration status.
These students, unable to stay in the US, often return to their home countries, where they start their own businesses and become successful, creating thousands of jobs. Trump said that American companies face difficulties in recruiting and retaining such talented individuals because of the uncertainty surrounding their immigration status.
With the introduction of the Gold Card visa, Trump proposed that companies could purchase the visa to retain international talent, using it as a recruitment tool. He argued that these individuals would not only contribute significantly to the economy by creating jobs and paying taxes, but also drive success for American businesses. He believes the Gold Card could provide a major boost to both the US economy and global talent retention.
Key Differences Between the Gold Card Visa and the EB-5 Visa:
EB-5: Requires an investment between USD 800,000 and USD 1.05 million.
Gold Card: Requires a much higher investment of USD 5 million.
- Job Creation Requirement:
EB-5: Investors must create at least 10 jobs in the US.
Gold Card: There is no job creation requirement, making it a simpler process.
EB-5: Applicants typically face a waiting period of 5–7 years for a Green Card.
Gold Card: Offers a much faster and more streamlined path to US residency.
- Eligibility and Access:
EB-5: Designed to attract a wider range of investors, including mid-tier investors.
Gold Card: Its high cost (USD 5 million) makes it more accessible to wealthier individuals.
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