What Is It?
A 5 million dollar “gold card” granting green card privileges and a path towards citizenship of the United States.
The Impact on Indian Graduates
- American companies will buy these gold cards to recruit top Indian graduates from Harvard, Stanford, and other elite universities.
- To retain skilled talent that would otherwise leave the US.
Replacement for EB-5 Visa
- Such a gold card will bulldoze the EB-5 immigrant investor visa program requiring job creating investment in American territory.
- The gold card instead, sells residency out there without investment requirements.
Revenue for US Debt
- Trump awaits the sale of millions of gold cards.
- The proceeds are reportedly expected to bring down own debt.
Implications
- Seen as an alternative to immemorial work permits, especially H-1B.
- Could favor wealth over merit in immigration.
- Raises ethical concern for selling residency and citizenship.
- It is expected to be up and running in two weeks.
