We all dream of living like Carrie Bradshaw in New York City—sipping cosmos at the trendiest bars, strutting down Fifth Avenue in Manolos, and living in a rent-controlled brownstone that defies all logic. If “Sex and the City” taught us anything, it’s that life in the Big Apple is glamorous, exciting, and, let’s be honest, outrageously expensive. But what if we told you that your American dream is within reach? Well, guess what? You can make it happen—all you need is INR 30 crore.
President Donald Trump has announced a new immigration initiative, the ‘Gold Card,’ allowing wealthy foreign investors to gain U.S. citizenship by paying $5 million. Described as a “premium version” of the Green Card, this program is intended to attract high-net-worth individuals while generating significant revenue for the U.S. government. Trump stated that the Gold Card would provide long-term residency and a direct pathway to naturalization, making it a faster and more streamlined alternative to existing visa programs.
Replacing the EB-5 Program
The Gold Card will replace the EB-5 Immigrant Investor Visa Program, which currently allows foreign investors to obtain Green Cards by investing between $800,000 and $1.8 million in U.S. projects that create at least ten jobs. Trump dismissed the EB-5 system as inefficient and outdated, stating that the new Gold Card program would eliminate unnecessary bureaucracy. Commerce Secretary Howard Lutnick, present during the announcement, supported the shift, calling the EB-5 system “ridiculous” and arguing that the Gold Card would attract investors more effectively.
Unlike the EB-5 visa, which mandates investment in job-creating ventures, the Gold Card requires only a direct payment to the U.S. government. This means investors would not need to prove that their money is creating jobs, making the process simpler and potentially more appealing to ultra-wealthy individuals.
Potential Impact and Concerns
Trump suggested that selling up to 10 million Gold Cards could generate an estimated $50 trillion, which he believes could significantly reduce the national deficit. However, immigration experts argue that such a major policy shift would require congressional approval. Critics also point out that allowing individuals to essentially buy U.S. citizenship could raise ethical concerns, particularly if the program lacks strict vetting procedures.
The announcement has also sparked debate over national security implications. When asked whether Russian oligarchs would be eligible for the Gold Card, Trump responded, “Yeah, possibly. I know some Russian oligarchs who are very nice people.” This remark has raised concerns about who might gain access to U.S. citizenship under this program.
Comparison to Global Programs
Investment-based citizenship programs exist in several countries, including Malta, Turkey, and Caribbean nations, where investors can acquire residency or citizenship by making substantial financial contributions. Most of these programs require investments ranging from $100,000 to $1 million, significantly lower than the $5 million price tag for the U.S. Gold Card.
For example, Malta offers citizenship for approximately $870,000, which includes a non-refundable contribution of $700,000. The U.S. program would be among the most expensive in the world, reflecting the high demand for American residency and citizenship.
Summing Up
The Gold Card program represents a dramatic shift in U.S. immigration policy, prioritizing wealth over traditional requirements such as employment-based sponsorship or family ties. While it has the potential to generate substantial revenue for the government, the plan raises legal and ethical concerns. Questions remain about how applicants will be vetted, how the funds will be utilized, and whether Congress will approve such a program. As the administration releases further details, the proposal is expected to face intense scrutiny from lawmakers, immigration experts, and the general public.
