President Donald Trump has just introduced the ‘Gold Card’ scheme, providing U.S. permanent residence and a route to citizenship for foreign nationals who make an investment of $5 million (about ₹43 crore). The new scheme will replace the current EB-5 visa program that involved an investment of $1 million and the generation of 10 jobs. The Trump administration hopes this new strategy will bring in foreign capital and assist in paying off the national debt. Nevertheless, the experts believe that the huge investment requirement might reduce the number of applicants, making the expected revenue doubtful. Further details on the eligibility criteria and the application procedure are set to be announced within weeks.
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Equally, India provides a Permanent Residency Status (PRS) scheme to foreign investors who invest ₹100 crore and provide 20 jobs. Unlike in the U.S. program, this scheme does not lead to citizenship but can provide residency for 10 years, renewable by another 10 years.
Under Trump’s ‘Gold Card’ scheme, those investing $5 million can get U.S. permanent residency and even citizenship. There is debate about whether this policy will open doors for Indian students and professionals or make their American aspirations more difficult.
With the ‘Gold Card’ program, obtaining U.S. citizenship is therefore achievable, but only for those with the ability to invest the high required amount.
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