Gold Card vs Green Card in the USA: What difference does it make?

TOI World Desk / TIMESOFINDIA.COM / Feb 26, 2025, 22:14 IST

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Gold Card vs Green Card in the USA: What difference does it make?

President Donald Trump introduced a proposal for a "Gold Card", a new visa program aimed at affluent foreign investors.

In the United States, the term "Green Card" refers to the Permanent Resident Card, a well-established document granting individuals lawful permanent residency. Recently, President Donald Trump introduced a proposal for a "Gold Card", a new visa program aimed at affluent foreign investors. This initiative is designed to replace the existing EB-5 Immigrant Investor Program. This analysis delves into the distinctions between the traditional Green Card and the proposed Gold Card, examining their eligibility criteria, benefits, and potential implications.

The Traditional Green Card

Overview:

A Green Card allows non-US citizens to live and work permanently in the United States. Holders can eventually apply for US citizenship, provided they meet certain residency and legal requirements.

Pathways to Obtain a Green Card:

Family Sponsorship: Immediate relatives of US citizens, such as spouses, children, and parents, can be sponsored for permanent residency.
Employment-Based: Individuals with specific job offers or those possessing extraordinary abilities in fields like arts, sciences, or business may qualify.
Investment (EB-5 Program): Foreign nationals investing a minimum of $1.05 million (or $800,000 in targeted employment areas) in a US commercial enterprise that creates at least ten full-time jobs can obtain a Green Card.

Benefits:

Permanent Residency: Live and work anywhere in the US indefinitely.
Path to Citizenship: Eligible to apply for naturalization after meeting residency requirements.
Legal Protections: Entitled to most legal rights under US law.

The Proposed Gold Card

Introduction:

On February 25, 2025, President Trump announced the "Gold Card" visa program, targeting wealthy foreign investors willing to contribute $5 million to the US economy. This initiative aims to attract affluent individuals who can stimulate economic growth and job creation.

Key Features:

Investment Requirement: A direct payment of $5 million to the US government.
Residency Privileges: Holders receive benefits akin to those of Green Card holders, including the right to live and work in the US
Pathway to Citizenship: While offering a route to citizenship, specific details regarding the timeline and process have yet to be fully disclosed.

Rationale Behind the Gold Card:

The Gold Card is designed to replace the EB-5 program, which has faced criticism for being "full of nonsense, make-believe, and fraud," according to Commerce Secretary Howard Lutnick. By increasing the investment threshold and streamlining the process, the administration aims to attract high-caliber investors and reduce potential abuses.

Comparative Analysis

1. Investment Threshold:

Green Card (EB-5 Program): Requires an investment of $1.05 million, or $800,000 in targeted employment areas.
Gold Card: Demands a significantly higher investment of $5 million.

2. Application Process:

Green Card: Involves a rigorous application process, including proving the source of investment funds, demonstrating job creation, and undergoing extensive background checks.
Gold Card: While detailed procedures are pending release, the process is expected to be more straightforward, focusing on the financial contribution and thorough vetting of applicants.

3. Economic Impact:

Green Card: Investments are directed into specific commercial enterprises, directly influencing particular sectors or regions.
Gold Card: The substantial $5 million contribution per applicant is intended to have a broader impact, with potential plans to use the funds to reduce the national deficit.

4. Accessibility:

Green Card: Accessible to a broader range of applicants, including those with family ties, employment offers, or investment capital.
Gold Card: Targeted exclusively at ultra-wealthy individuals capable of making a $5 million investment.

Potential Implications

Economic Considerations:

The administration anticipates that the Gold Card program could attract up to a million investors, potentially generating $5 trillion in revenue. These funds could play a significant role in reducing the national debt and stimulating economic growth.

Policy and Legal Challenges:

Implementing the Gold Card program may face legal hurdles, as changes to immigration laws typically require Congressional approval. The administration asserts that the program can proceed without new legislation, but this stance may be contested.

Social and Ethical Considerations:

The introduction of a pay-to-immigrate system raises questions about equity and the values underpinning US immigration policy. While the program aims to attract individuals who can contribute economically, it may be perceived as favouring the wealthy over other deserving immigrants.

About the Author

TOI World Desk

At TOI World Desk, our dedicated team of seasoned journalists and passionate writers tirelessly sifts through the vast tapestry of global events to bring you the latest news and diverse perspectives round the clock. With an unwavering commitment to accuracy, depth, and timeliness, we strive to keep you informed about the ever-evolving world, delivering a nuanced understanding of international affairs to our readers. Join us on a journey across continents as we unravel the stories that shape our interconnected world.

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