In a move set to benefit Indian graduates and foreign investors, US President Donald Trump has unveiled a new “Gold Card” citizenship initiative aimed at attracting international talent to the United States.
This new initiative, announced on Wednesday, will allow American companies to hire Indian graduates from US universities and provide wealthy foreign investors with a streamlined path to US citizenship.
The Gold Card initiative is pitched as a premium version of the Green Card and seeks to address the current limitation of the US immigration system. The Gold Card is designed to offer long-term residency and a clear pathway to US citizenship for foreign investors who invest a minimum of $5 million.
Trump noted how foreign students, especially those from India, face challenges securing permanent residency after completing their studies at top universities such as Harvard or Wharton School of Finance. Despite receiving lucrative job offers, many of these graduates are forced to leave the country due to uncertainty over their immigration status.
“A person comes from India, China, Japan, lots of different places, and they go to Harvard, the Wharton School of Finance… they are made job offers, but the offer is immediately rescinded because you have no idea whether that person can stay in the country,” Trump said.
He further acknowledged the unintended consequences of the current immigration policy, stating that many talented graduates end up returning to their home countries, where they launch businesses and become successful. They also employ thousands of people creating jobs abroad while the US loses out on potential economic gains.
This initiative will replace the existing EB-5 visa program, which grants residency to those who invest at least $1 million in US businesses that employ 10 or more people.
Trump sees the scheme as a way to attract top international talent and boost the US economy.
“If we sell a million, that’s USD 5 trillion,” he added.
The new Gold Card program is expected to be implemented by April. Up to 10 million visas could be issued at an initial stage. Trump believes that the initiative will drive economic growth, with wealthy investors spending money, paying taxes and creating jobs.
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