US Gold Card Visa: Get American citizenship by spending $ 5 million, this is the latest plan of Donald Trump’s latest plan to attract rich investors. However, if it is implemented, it will further increase the problems of Indian professionals engaged in green card efforts.
According to media reports on Wednesday, the US President announced the plan of ‘Trump Gold Card’. He said, “This is a route to receive the US residence permit for immigrants at a fee of $ 5 million (Rs 43.54 crore).”
Trump said it would replace the current 35-year-old EB-5 visa program, which is available for foreigners investing about $ 1 million in American businesses.
How long can it apply?
The new program inspired by the ‘everything commercial’ mentality of the US President may apply by April. Initially about 10 million ‘Gold Card Visa’ is likely to be available.
Trump said, “Rich people will come to our country by purchasing this card. They will be rich and successful, they will spend a lot of money, will give employment to many people.”
How is the Gold Card Visa different from EB-5?
Under the current EB-5 program, foreign investors have to invest up to $ 800,000-1,050,000 in American businesses and create at least 10 new jobs.
This program, launched in 1990 to attract foreign investment, has been accused of misuse and fraud for years.
The proposed ‘Gold Card’ visa scheme increases the financial requirement by five times to $ 5 million. The heavy price will make it out of the reach of middle-level investors. This is a sharp and simple path to get American residence. In this, the need to produce servants has also been abolished.
According to media reports, citizenship was available in five to seven years under the EB-5 program, while citizenship will be immediately in the proposed ‘Gold Card’ visa Yojana.
What will be the effect on Indians?
The price of $ 5 million (43,56,14,500.00 Indian rupees) means that only super-rich and business tycoon of India can bear so much expense to get American citizenship. This is likely to increase the problems of skilled professionals who are already waiting for a long time for the green card, in some cases for decades.
In addition, applicants can take loans under EB -5 or resort to ‘Pur Fund’, while ‘Gold Card’ visa will already have to pay full cash – which will make it out of the reach of a large part of Indians.
