Donald Trump has announced a Gold Card for the world's wealthy individuals who wish to settle in the USA or make it their second home.
Among foreigners, Indians have long been at the top of the list when it comes to choosing the USA for opportunities.
Many have moved there over the decades through the ladders of F1 student visas, H1B work visas, Green Cards, and eventual citizenship. However, these processes, which once took years, have become even longer under Trump's stricter visa policies.
To make the USA a preferred destination for the wealthy, Trump introduced the Gold Card at an investment of $5 million (approximately Rs 44 crore). But the big question remains—who will actually buy it?
In the Indian context, individuals with Rs 50 crore or more in hand rarely feel the need to relocate to the USA permanently. Instead, they may prefer visiting the country as tourists, which requires only a 10-year B1/B2 visa, avoiding the need for such a hefty investment.
"My entire family holds a 10-year B1/B2 USA visa for tourism. Whenever we have time, we visit, spend a month or 45 days, and return. We also have a UAE Golden Visa, which we obtained by investing Rs 4 crore in a residential flat in Dubai. We prefer Dubai as a second home since it's much closer to Hyderabad. The USA's Gold Card doesn't seem worth the price," says an elite businessman who owns a real estate company in Hyderabad.
If India's rich—those worth over Rs 500 crore—find the Gold Card overpriced at Rs 44 crore, then who else would buy it?
"The EB-5 visa program has already been available for wealthy Indians to make the USA their second home, and it comes at a lower price. Replacing it with the Gold Card makes little sense. For India’s elite, everything they need for a luxurious life—top-class medical facilities, abundant working-class support—is already available here. They may travel the world, including the USA, for vacations, but they don’t necessarily see the need to live there. Investing Rs 44 crore in a Gold Card might only appeal to those with billion-dollar business plans in the USA, which is a very small number," explains a business analyst.
A journalist added a satirical take, "Unless a country faces internal conflicts, war, political turmoil, or personal security threats, only then would the ultra-rich consider buying a Gold Card worth $5 million and moving to the USA. So, for the USA to successfully sell these Gold Cards, it might have to orchestrate conflicts around the world."
With the UAE's Golden Visa already being the preferred choice for India's wealthy elite, it remains to be seen whether Trump's Gold Card will find takers.
Except for the value of the dollar, there isn’t much to boast about in the USA. Living there is not a dream for many around the world—it’s primarily the dollar appeal that attracts people. However, when someone already has $5 million, they are unlikely to move to the USA. Instead, they would spend that money in their own country and enjoy a comfortable life. This is especially true in the Indian context.
