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Trump's $5 million 'Gold Card' may succeed in India, but faces legal test
SUMMARY
Former U.S. President Donald Trump's proposed "$5 million Gold Card" visa program aims to offer permanent U.S. residency to foreign nationals who invest $5 million, positioning it as a replacement for the existing EB-5 investor visa. This initiative is expected to appeal to wealthy Indian investors, offering benefits like immediate residency, flexible tax options, and no job creation requirements.
However, legal experts caution that implementing such a program would require Congressional approval, as the EB-5 program is legislated and cannot be unilaterally altered by the President. Additionally, the absence of an official website or documentation has raised skepticism about the program's viability.
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