Usa Gold Card Visa Scheme: For those who want to settle in the US, President Donald Trump has announced a new ‘Gold Card’ visa scheme. Under this scheme, whatever immigrant will spend $ 5 million (about Rs 43.54 crore), it will easily get American citizenship. However, this policy can increase difficulties for Indian professionals already waiting for the green card.
‘Gold Card’ visa will replace EB-5 program
This new plan of Trump administration will replace the existing EB-5 visa program in the US. Till now, foreign investors had to invest $ 800,000 to 1,050,000 in US business under the EB-5 program and also had to create at least 10 new jobs. The program was launched in 1990, but has been accused of fraud and misuse in the last few years.
Now the investment amount in Trump’s ‘Gold Card’ scheme has been increased by five times to $ 5 million. This new rule has also removed the imperative to create jobs. Under this, citizenship will be found immediately, while the EB-5 program used to take 5 to 7 years.
What will be the effect for Indians?
Under this scheme, $ 5 million (Rs 43.56 crore) will have to be spent to get US citizenship. This means that only the super-rich business tycoon and big industrialists of India will be able to take advantage of it.
Conversely, the way of American citizenship can be more difficult for those skilled Indian professionals who have been waiting for the green card for decades. Under the existing EB-5 program, applicants could resort to bank loan or funding, but it would be mandatory to deposit the entire money in cash in advance for the gold card visa. This will make this scheme almost impossible for the Indian middle class.
Easy for the rich in America, difficult for the rest?
Donald Trump said in his statement, “Through the gold card visa, the rich people will come to America, they will spend money and also bring new jobs.” But the second aspect of this is that this policy can create another obstacle for middle class and professional immigrants who wish to settle in the US.
Can the scheme be applicable by April?
According to media reports, this program can be implemented by April. 10 million gold card visa is expected to be issued in the initial stages. However, the official policy and final rules have not been announced by the US administration yet.
Will the difficulties increase for those going to America to America?
If this scheme is applicable, Indian professionals wishing to work and settle in the US may further delay in getting green cards. With this policy only billionaires will be able to get American citizenship easily, but the rest will have to go through a long and complex process.