Donald Trump has introduced a new “Gold Card” offering permanent US residency to anyone willing to invest at least $1 million. This scheme allows wealthy individuals to bypass long queues and enter the country directly through the Commerce Department.
Gold Card Details
Applicants investing $1 million receive instant green card status after background checks and a $15,000 processing fee. Companies sponsoring a Gold Card must invest $2 million. The annual cap is just 80,000, much lower than the current employment-based green card limit.
Impact on Other Green Cards
Commerce Secretary Howard Lutnick announced that other visa green card categories may be suspended within a month. Skilled workers under EB-1, EB-2, and EB-3, including many Indians stuck in long backlogs, could face sudden disruption to their immigration plans.
Legal Concerns
Critics argue the Immigration and Nationality Act (INA) does not allow such drastic changes and anticipate legal challenges. However, Trump has previously pushed through unprecedented immigration changes and shows no signs of reversing this policy.
Message to Skilled Workers
With the Gold Card and the new $100,000 H-1B visa fee, the administration’s message is clear: pay large sums or remain outside the US. Ordinary skilled workers are likely to bear the cost of these policies.
