US President Donald Trump has announced plans for a new 'Gold Card' visa, costing $5 million and offering a path to citizenship.
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00:00Trump's gold visa shake-up
00:30welcomes super rich migrants. We're going to be selling a gold card. You have a green card,
00:39this is a gold card. We're going to be putting a price on that card of about five million dollars
00:44and that's going to give you green card privileges plus it's going to be a route to citizenship.
00:50Five million dollar gold card for U.S. green card.
01:02No donkey route, only money route.
01:12Decoding U.S.'s five million dollar golden visa. Top focus at Five Live with Shivarud.
01:20The five million dollar gold card announces Trump. It's his new citizenship yojana.
01:29Is it rooted in reality or is it another one of those crazy flourishes that we've gotten used to
01:36from the Trump Sarkar? I'm going to decode that because it's something that people are
01:40really wondering about. After all, Trump is the President of the United States. Let's go
01:46to the headlines first. Rise of a new political alliance in Tamil Nadu. Stalin challenger marks
01:53one year anniversary of his party. Vijay promises to uphold secularism and democracy.
02:03Shah rejects Stalin's delimitation claim. Says Tamil Nadu won't lose Lok Sabha seats
02:08due to delimitation. Claims DMK misleading people with non-issues.
02:16Big Bihar cabinet expansion. Seven MLAs from the BJP take oath as ministers.
02:21Chief Minister Nitish Kumar expands his cabinet ahead of assembly polls in Bihar early next year.
02:29Mass murders in God's own country. 23-year-old kills five people and then surrenders.
02:35Murders fueled by drugs killer Afan went on a murderous drive on his motorcycle.
02:40It's the last day of the Mahakumar today in Prayagraj. The largest gathering on earth began
02:46on the 13th of January. Ends today with Mahashivaratri.
02:50Indian Air Force conducts air display over Prayagraj.
03:00US President Donald Trump has announced that he plans to offer what he calls a gold card
03:08visa with a path to citizenship. It's only going to cost you $5 million. It's incredible. But he
03:17actually said it and he means it. He says he's going to be rolling it out in just a couple of
03:22weeks from now. He says this gold card visa with a path to citizenship for which you have to pay
03:28$5 million, replaces a 35-year-old visa for investors. However, the move is not going to
03:36for investors. However, the move, if it comes into effect, will compound possibly the woes
03:42of skilled Indian professionals stuck in long green card queues and backlogs.
03:48The program, this gold card program driven by Trump's everything's business mindset,
03:53is likely to come into effect by April with around 10 million such gold card visas
03:59likely to be up for grabs initially. This proposed gold card visa scheme raises
04:04the financial requirement by five times to $5 million. That's a huge amount. Hefty price makes
04:12it out of reach for middle tier investors despite being a much faster and simpler route to getting
04:19US residency. The job creation requirement is also done away with making it hassle free. It's
04:26basically cash and carry towards citizenship of the United States. We're going to be doing
04:33something else. It's going to be very, very good. We're going to be selling a gold card.
04:41You have a green card. This is a gold card. We're going to be putting a price on that card of about
04:46$5 million. And that's going to give you green card privileges. Plus, it's going to be a route
04:51to citizenship. And wealthy people will be coming into our country by buying this card. They'll be
04:57wealthy and they'll be successful and they'll be spending a lot of money and paying a lot of taxes
05:02and employing a lot of people. And we think it's going to be extremely successful and never been
05:07done before anything like this. But it's something that we're going to be putting out over the next,
05:12would you say, two weeks out? You want to say a couple of words about?
05:14To end the EB-5 program, we're going to replace it with the Trump gold card, which is really a
05:20green card gold. So they'll be able to pay $5 million to the US government. They'll have to
05:26go through vetting, of course. We're going to make sure they're wonderful, world class,
05:29global citizens. They can come to America. The president can give them a green card and they can
05:36invest in America and we can use that money to reduce our deficit. Why do we give out lotteries
05:43of green cards? Why do we give out EB-5 for green cards? The president of the United States
05:47understands that the right answer is, why don't we eliminate the deficit of the United States
05:52of America? I want to go across to India Today's foreign affairs editor, Geeta Mohan, for more on
05:59this. You know, Geeta, whenever one hears an announcement of this kind from Donald Trump,
06:05you know, you have to remind yourself that it is the US president speaking. This is, in some ways,
06:12outlandish, but very much keeping with Brand Trump, looking to disrupt, you know, one of his
06:18pet subjects, which is people coming into the United States. Just break this down for us.
06:23You know, is this a citizenship yojana that is going to disrupt other avenues for citizenship
06:32in the United States? What exactly is this about? Five million dollars is an enormous amount of
06:37money. Well, absolutely. But while it is going to be a huge disruptor, it will certainly not affect
06:45those who are going through the professional route, which is H-1B visa. We've heard Elon Musk,
06:51we've heard Vivek Ramaswamy talk about and justify the need for H-1B visas, particularly
06:58when it comes to Indians. There are many Indians, Shiv, who are not looking at citizenship. They'd
07:02like to go work there. And yes, there's a longer route to a green card, which a lot of people
07:07might want to wait. But this is very, very Trump-like to have not just a disruptor, but also
07:16to increase the value. He's saying that one million dollars is not worth America's while.
07:24And if you want to be an American citizenship by investment, then looking at five million dollars,
07:29he's increased the cap from 800,000 to 10 million, which is a huge number. There are a lot
07:35of people who are looking at American citizenship and might have the money. In a way, he's trying to
07:42maybe look at containing illegal immigration. But people who go to America via illegal routes
07:51do not have this kind of money. And the ones who have this kind of money would be willing to pay,
07:58should they want to give up their citizenship or have dual citizenship. So a disruptor. But right
08:03now, if you look at the initial stages, what does it entail? Do you have to create jobs? It does not
08:10have any details on job requirement. EB-5 did. You had to employ people in the United States of
08:17America. So there are a lot of details that are still missing. We'll have to wait and see what
08:21those details are going to look like for now. It looks like a proposition where Trump is only
08:26looking at at reducing the deficit in the United States of America. Will that really invite a lot
08:33of people to pay five million dollars for citizenship in the United States of America?
08:37We'll have to wait and see. How will it impact Indians, especially professionals? As of now,
08:43because they have not cancelled H-1B visas, they remain unaffected.
08:47AB- Okay. And also, there's lack of clarity on whether this will impact. Obviously, this is
08:52completely separate from the illegal immigration conundrum that Trump is cracking down on. But
08:59will there be a spillover effect or augmented delays as far as the huge backlog for green
09:06cards is concerned? As Geeta said, there is little clarity on that. But hopefully,
09:10we'll get that soon. But this is signature Trump. He's going to put out just the big headline and
09:16then maybe the details will come out later and either make everything more dramatic or actually
09:22make everything more sober. Let's try and understand this because the proposition itself
09:27is tantalizing. Earlier, it was 800,000 for professionals wanting to move to the United
09:33States to create jobs. Now, Trump is basically saying, forget about all the other conditions.
09:38If you can fork out five million dollars cash up front, then you get a green card plus. And
09:45that puts you on some kind of a fast track towards citizenship of the United States,
09:50which is, of course, the big holy grail of what many people going to the United States
09:54are really aiming for. Let's get some questions answered by an expert who deals with immigration
10:01of all kinds. Dr. Tejinderpal Singh Nalwa is an immigration expert. Dr. Nalwa, thanks for being
10:07with us here on India Today. You know, immigration to the United States is very much in the headlines
10:14these days for all manner of reasons, thanks to Trump's sort of ruthless crackdown on it in the
10:21United States. We've seen it affect India as well. But today's announcement of this five million
10:28dollar gold card yojana, you know, to put you on the fast track to US citizenship. What are your
10:34first impressions of it, Dr. Nalwa? I'm so happy he's doing that because what most of the lawmakers
10:42in India couldn't do, he has done in one stroke. So in that way, if anybody who loves India and
10:50does not want their talent to go abroad, through the donkey stupid route, this is a deterrent,
10:57which I think Trump has very calculatively introduced, one to stop this illegal immigration
11:03over the years, which has actually jeopardized the American economy. And such a leap of amount,
11:12right from $800,000 from EB5, jumping to almost 10 times more, if I say that,
11:20of 40 crores in Indian money, is like, to me is like, you know, if I have 40 crores in India,
11:29probably I'll not do anything. I'm better than living in America with all the facilities of
11:34domestic help and hiring drivers and stuff like that. Coming on the legal points, why
11:42he did it, that's very important. Yeah, it has two signals. One,
11:45the American economy is in bad shape. It sends a signature. Because if you see global
11:54geopolitical situation, right from Portugal to Italy, to other golden visas across the globe,
12:03the countries which are facing a lot of financial issues and deficit, always go for
12:11an investment program. At the same time, Trump being a businessman has sent a message
12:22that he only want quality business people. Which means that by inviting in Indian money,
12:30somebody who could invest 40 crores, yeah, not going to put that money in an account.
12:35Because the rate of interest definitely even if it is white money, it has to be white money,
12:40getting all the RBI prior approvals and getting approval from Foreign Investment Promotion Board
12:46approvals and FEMA and FARA and whatnot. But even then, if you're able to transfer that kind of
12:52money legally, yeah. Once that money cannot be parked in USA and lying in the bank at 2.5
12:59or 3% rate of interest, which at times is not available. True, good point. He's trying to create
13:06business opportunity, employment opportunities through this money. One, two, he's trying to
13:12cover the deficient. Third to me, he's trying to send a very, very strong signal that America
13:20is big daddy. We don't want your 800,000, we are too big. So he is trying to send that image,
13:27pre-Reagan image that if you want to be part of the richest economy of the world, you have to be
13:34rich to be part of it. Correct. Yeah. And he said that also, you know, in the announcement,
13:42he actually says that, you know, with this, I will get wealthy investors here. He's basically
13:47indicating I don't want riffraff. I want people who can, you know, actually afford it and earn
13:53the right to be here and $5 million is the price tag. You know, one can argue and say that, you
13:59know, the way he announced it is a little crude. But like I said, that is brand Trump. You know,
14:04he likes to cut through all the BS and tell it like it is. He likes clarity as far as that is
14:09concerned. But there are unanswered questions. I'll come back to you, Dr. Nalba. I want to bring
14:12Geeta back in for a question on India's concerns on this. You know, India sends a lot of people to
14:20the United States professionally and otherwise. So, you know, are there any, you know, immediate,
14:28I take your point, Geeta, that there are many unanswered questions. But could there be some
14:33initial prima facie concerns, you know, for something like this, as far as Indian professionals
14:38going to the US is concerned? Absolutely, but it's not the professionals. Like I said, Shiv,
14:43H1B visas right now in this announcement clearly shows remain unaffected. But he's replacing EB-5
14:50with the gold, the Trump gold visa. Now, if you're replacing it, those who are looking at
14:58their application stand or those who've been on an EB-5, if that replacement happens from an EB-5
15:06to now having to pay more for a gold visa, then a lot of them will stand to either lose,
15:12we do not know the technicalities, is it going to be retrospective or not? If it's not going
15:18to be retrospective, then for those who are applying, they will be really affected. And who
15:24are those people? Today, if you look at those who are looking at American visas by citizenship,
15:30there are a lot of wealthy Indians who are looking at that route as well. And this has
15:34nothing to do with illegal immigrants. Like I said, Shiv, they really can't afford this.
15:40This is the replacement of EB-5, which should be a concern because we're yet to see and read
15:45the details of how that replacement is going to happen. EB-5 visa holders are going to be impacted
15:51and affected because he's very clearly said, the Commerce Secretary, that they're cancelling EB-5s.
15:57So if they're cancelling EB-5s, then people will have to shell out 4 million more.
16:03And there are a lot of Indians who are on EB-5s. So that's the category of Indians who should be
16:09worried and concerned and in all probability are. And if that is the case, then yes,
16:15the Indian administration will also be looking at the details of what this gold visa means,
16:20what it could mean and how it could impact Indians who are looking to invest in the United
16:24States of America. So the EB-5 route, Dr. Nalwa, bringing you back in, is a route that several
16:30Indians have taken to get into the United States. So there may be more who are considering it.
16:37Now, it becomes immediately much more expensive. I mean, from 800,000 to 5 million,
16:43even though we don't know the details about job creation requirements, etc.
16:47A, how are you reading that impact? And B, could there be any spillover effects on
16:53the other green card backlogs, etc?
16:58I'll answer the question in two parts. Yeah, rather three parts.
17:04Shiv, first of all, what Geeta is saying is partially correct. But at the same time,
17:12it has been the practice, I don't know which way the term goes. But if you have filed a visa,
17:18and at that point of time, it was $800,000 for EB-5 and the application was accepted.
17:27In my career spanning 35 years, it is the date of filing the law is applicable.
17:32So I don't think that a lot of people will be affected who have already filed this visa,
17:38and have qualified under EB-5. That's my take. But as you know, Trump, he can do anything.
17:46Disclaimer is always there.
17:48Yeah, he can take out an ordinance saying, you take your money back, you guys go back and you
17:52know, whatnot. But I don't think he will do that because that will break the confidence of people
17:59he's targeting, if at all he's targeting with 5 million. So he won't do that if he's a businessman.
18:06And logically, legally also, this would become a wrong precedent for the global
18:11business migration, number one. Number two, it is a big, big benefit now for Canada.
18:19Because yeah, being a next door neighbor, and 20 rupees less, dollars 80 rupees US,
18:27and the Canadian dollar is let's presume 60 rupees. In 1 million dollars, you can straight
18:36away be in Canada. So you are competing with your next door neighbor, where if you become
18:47Canadian citizen, you can work in US. So why would I go to US, if at all,
18:57and then the third way, the third answer, you know, I'm telling the alternative people will
19:01opt for, you open up a company in Canada, work there for four years, by this time, this
19:07Honorable President would be out, his second term is the last term in America,
19:11you can't repeat. So by four years, that guy would become citizen, Canadian citizen,
19:16I don't think Canada, US and Canada can go to that level that they will break this
19:21transatlantic treaty of working the way Indian and Nepal work or India and Bhutan work.
19:27So to me, answering to Geeta's query, number one, he cannot disrupt EB-5, who have already
19:34fixed application has been done on a particular date.
19:37Indeed.
19:37Two, I agree with Geeta that we'll have to wait for the term factor. What exactly is in this?
19:44Because I think he will say that if you put in this money, you must create three or four
19:49employments. Which means he's actually targeting groups like Tata and Wipros. No, they are already
19:55there. He is targeting midsize high networking individuals who want to invest and start their
20:00companies. Now, the fallout of this whole scenario would be for next six months, people will wait.
20:07Okay.
20:08Because even I am not sure what is going on, the legislation would be and what will be the
20:13gadget notification.
20:14Okay.
20:15Now, Shiv, since you have taken up this beautiful topic today, we need to understand the changing
20:21geopolitical situation in terms of immigration.
20:24Yes.
20:24The whole world is in a very fluid situation. But yes, it can attract rich Ukrainians,
20:31rich Russians, and people who don't want to live in Dubai.
20:35Yeah.
20:37Interesting. Interesting, Dr. Nalba. Thank you for putting that perspective for us. And,
20:42you know, after speaking to you, we've answered some of those questions. And it is clear that,
20:48you know, there are some things that still need to come out, which will hopefully be detailed
20:53in the days and the weeks ahead. But as Trump said, he wants to implement this in the next
20:57couple of weeks itself. So hopefully, those details will come out sooner rather than later.
21:02And here on India Today, of course, we will be reporting it at that time. So Geeta
21:05and Dr. Tejinder Singh Nalba, thank you very much for joining us and giving us that.
21:10Thank you. Okay, moving on now to, well, something completely different, but,
21:18well, it is about investment. Jailed con man, Sukesh Chandrasekhar, has written to,
21:25wait for it, Elon Musk, calling him my man, and offering to invest $2 billion in Twitter,
21:34or X, as it's called now. From Delhi's Mandoli jail, Sukesh Chandrasekhar also
21:39congratulated Elon Musk on leading the US government's new Department of Government
21:44Efficiency, or DOGE. Chandrasekhar described X as his favourite platform, and noted that it is also
21:51the preferred social media site of actor and his former partner Jacqueline Fernandez, whom he
21:58called his lady love, and has repeatedly written to from jail. Well, Sukesh Chandrasekhar claims
22:03that his company, LS Holdings, had already invested in Tesla stocks and seen significant
22:08profits. He said he wants to invest $1 billion in X now, and $1 billion next year.
22:21Well, Donald Trump has just dropped what might be the most bizarre video of all time,
22:27an AI-generated clip reimagining Gaza as a glitzy futuristic paradise. Picture Dubai
22:35meets Miami, but with a giant golden statue of who else but Trump. Take a look,
22:43I'll see you on the other side.
22:56No more tunnels, no more fear. Trump-Gaza is finally here.