End of EB-5 visa: Why the $5 mn US 'Gold Card' blow hits rich Indians hard

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End of EB-5 visa: Why the $5 mn US 'Gold Card' blow hits rich Indians hard - Business Standard

Quick Summary:

The "Gold Card" will replace the employment-based EB-5 visa programme.

Trump’s administration has repeatedly criticised the EB-5 visa, which was first introduced in 1990 to boost the American economy through job creation.

Commerce Secretary Howard Lutnick, who stood alongside Trump, said applicants would be able to pay the sum directly to the US government.“The president said rather than having this sort of ridiculous EB-5 programme, we’re going to end the EB-5 programme.