Washington, D.C.: Former US President Donald Trump has introduced the Gold Card visa, a $5 million investment-based temporary visa, claiming it will fast-track citizenship and help American businesses hire foreign professionals, including Indians. However, the high cost raises doubts about its viability as an alternative to the H-1B work visa.
India has long been a key contributor to the US workforce, with Indians securing 72% of H-1B visas in 2022-23. The H-1B, costing up to $8,000, is far cheaper than the Gold Card visa, making it the preferred choice for both companies and skilled professionals. Trump argues that the US is losing talent as foreign graduates return home to start successful ventures.
While some see the Gold Card as a reward for top talent, industry experts question whether businesses will invest $5 million to hire employees when the H-1B route is significantly more cost-effective. Analysts believe this move primarily aims to attract high-net-worth investors rather than address labor shortages.
Ultimately, the Gold Card visa is unlikely to benefit Indian professionals or American companies seeking affordable foreign talent. Instead, it may serve as an expensive alternative to the EB-5 investor visa.
