US President Donald Trump announced the launch of a new investor visa programme called the ‘Gold Card,’ aimed at wealthy immigrants seeking US permanent residency. This new initiative will replace the existing EB-5 visa programme and comes with a steep price tag of $5 million per applicant.

What is the ‘Gold Card’ Visa?

Speaking from the Oval Office, President Trump described the ‘Gold Card’ as an upgraded version of the green card, calling it ‘green card privileges plus.’ The programme, set to launch in two weeks, will offer recipients a pathway to US citizenship. Trump emphasised that the programme would attract wealthy and successful individuals who would contribute significantly to the economy by spending money, paying taxes, and creating jobs.

Concerns over the new visa policy

Immigration experts have expressed concerns that the ‘Gold Card’ visa creates a pay-to-play system for US residency. Critics argue that the policy favours the ultra-wealthy while sidelining skilled professionals who have been waiting in line for decades to obtain permanent residency.

Millions of skilled workers, including engineers, doctors, and technology experts—particularly from India—face green card backlogs that stretch for over 50 years. These professionals, who have already contributed to the US economy and workforce, will not benefit from the new policy. Instead, the ‘Gold Card’ eliminates the backlog requirement, offering fast-track citizenship to those who can afford the hefty $5 million price tag.

Wealth-based immigration?

The existing EB-5 visa programme, administered by the US Citizenship and Immigration Services (USCIS), provides a pathway to a green card for investors who create at least 10 full-time jobs in the US. The programme currently requires a minimum investment of $1.05 million or $800,000 in targeted employment areas or infrastructure projects.

The new ‘Gold Card’ program does not emphasise job creation, which critics view as a step backwards. While the EB-5 visa had specific employment-based requirements, the ‘Gold Card’ seems to prioritise wealth over contribution to the job market.

While the US administration has often advocated for a merit-based system, this new initiative appears to prioritise financial status over skills and contributions.