₹43 Crore ‘Gold Card’, Trump’s Golden Ticket For The Ultra-Rich, But Doors Shut On 12 Nations. American Dream Or Billionaire Gimmick?

On Thursday, April 3, US President Donald Trump gave reporters a glimpse of what he called the “$5 million gold card” visa – an eye-catching new version of America’s investor visa.

Holding up the flashy, metallic gold card proudly, he quipped,

“For $5 million, this could be yours,” before adding with a grin, “That was the first of the cards. You know what that card is? It’s the gold card — the Trump card.”

The visa, officially named the “Gold Card”, is not only all shine and  shimmery; it features Trump’s own face and carries a literal printed price tag of $5 million (or roughly ₹43 crore). The idea is simple – invest that amount in the U.S., and you get Green Card–like privileges with a potential path to full citizenship later.

Trump claimed he was the first buyer of the Gold Card, but kept the identity of the second recipient vague. “It’ll be out in less than two weeks, probably,” he said, suggesting a mid-April rollout. As of now, though, there’s no clarity on the application process or formal details.

The ‘Golden’ Gold Card

Essentially, this Gold Card is being marketed as a premium replacement for the existing EB-5 visa, which grants residency to foreign nationals in exchange for significant job-creating investments in the U.S. The Gold Card ups the stakes and the price.

Speaking from the Oval Office, Trump said, “We are going to be selling a gold card… We are going to be putting a price on that card of about $5 million.” He emphasized that buyers would get green card benefits and a pathway to citizenship, while also pumping fresh capital into the American economy.

Trump painted a rosy picture of its potential: big money coming in, new jobs created, and wealthy investors contributing to U.S. tax revenues. “They’ll be wealthy and they’ll be successful, and they’ll be spending a lot of money and paying a lot of taxes and employing a lot of people,” he said. In fact, he threw out an ambitious figure: “We’ll be able to sell maybe a million of these cards, maybe more. And if you add up the numbers, they’re pretty good… a million cards would be worth $5 trillion dollars.”

But will the ultra-rich bite?

According to a Forbes report, not really. After interviewing 18 billionaires across different continents, the response was mostly a hard no. Thirteen said they weren’t interested, three were unsure, and only two said they might consider it.

So what were their reasons –

—First, if you are already a billionaire, you likely don’t need this kind of visa.

—As one Canadian billionaire bluntly put it, “If you’re a billionaire, you don’t need it.”

—A European billionaire added, “Whoever has a business idea can do it now for very cheap, so why spend $5 million?”

—A Russian billionaire put it even more bluntly: “I do not understand who will pay $5 million.”

Many also don’t want American citizenship in the first place, preferring to stay rooted in their home countries, where they’ve built their empires and raised their families.

What about India’s billionaires?

Well they weren’t convinced either. 

Abhay Soi, chairman of one of India’s largest hospital chains, said, “I wouldn’t want to be a citizen of any country other than India anytime—particularly in this century.”

Another major red flag is U.S. taxes.

America is one of the few countries that taxes its citizens on global income, no matter where they live. This alone was a deal-breaker for several billionaires. Trump tried to dangle a workaround, saying Gold Card holders “won’t have to pay any tax on income outside of the United States,” though legal experts point out that he can’t make that promise stick without Congressional backing.

Even those who like the idea of moving to the U.S. said they could probably do it without spending ₹43 crore – through other visa categories like the O-1 for individuals with “extraordinary ability,” or even by marrying a U.S. citizen.

And let’s not forget the Indian context. Right now, $5 million converts to nearly ₹43 crore. That’s a staggering sum in India. You can do a lot with that money without ever having to leave the country.

For instance: Buy ultra-luxury real estate: In cities like Delhi, Mumbai, Bengaluru or Hyderabad, you could snap up multiple high-end properties. In places like Kolkata or Pune, ₹43 crore can get you palace-level luxury.

Invest it safely: Even something as low-risk as a fixed deposit would yield a passive income of nearly ₹3 crore a year—tax-free in some cases.

So unless you’ve got money to burn, a gold card with Donald Trump’s face on it may not be the wisest way to spend ₹43 crore. Especially when your money can work much harder for you back home.

Trump’s New Travel Ban Targets 12 Nations, Sparks Global Reactions
Meanwhile, from in a move that’s already making headlines and plenty of noise, Donald Trump is bringing back a familiar strategy: banning foreigners, this time from 12 countries, all in the name of national security.

On Wednesday, U.S. President signed a new proclamation that bars nationals from countries including Afghanistan, Myanmar, Chad, Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Somalia, Sudan, and Yemen from entering the U.S. The order kicks in on June 9, 2025; visas issued before that won’t be revoked, but good luck getting one after.

Seven more countries – Burundi, Cuba, Laos, Sierra Leone, Togo, Turkmenistan, and Venezuela – are not fully banned, but will see partial restrictions. What those partial restrictions entail has not been clearly spelled out yet, but it’s safe to say it won’t be a warm welcome.

“We will not allow people to enter our country who wish to do us harm,” Trump said in a video posted on X (formerly Twitter), echoing a familiar tone from his first term when he rolled out a controversial travel ban targeting mostly Muslim-majority countries. That policy was challenged in court, revised multiple times, and ultimately upheld by the Supreme Court in 2018, before Joe Biden scrapped it in 2021, calling it “a stain on our national conscience.”

But Trump is back with a sequel, and he’s doubling down. The countries facing the harshest bans, he said, were picked based on a mix of criteria – terrorist activity, lack of cooperation with U.S. authorities on visa screening, poor ID verification systems, weak criminal record-keeping, and high visa overstay rates.

“We cannot have open migration from any country where we cannot safely and reliably vet and screen those who seek to enter the United States,” he insisted.

He also pointed to a recent incident in Boulder, Colorado, where a man threw a gasoline bomb at a pro-Israel crowd. The attacker, an Egyptian national named Mohamed Sabry Soliman, had overstayed his tourist visa and was in the U.S. on an expired work permit. Oddly enough, Egypt isn’t even on the list of banned countries, raising questions about how consistent or effective the ban really is.

Global Blowback & Some Shrugs
The backlash wasn’t far behind. 

Somalia responded quickly, with its U.S. ambassador saying the country remains committed to its relationship with Washington and is ready to “engage in dialogue” to fix whatever issues the U.S. flagged.

Venezuela, meanwhile, fired back with typical bluster. Interior Minister Diosdado Cabello slammed the move, calling the U.S. government “fascist” and warning Venezuelans that “being in the United States is a big risk for anybody, not just for Venezuelans.”

Other countries stayed silent. Myanmar’s military government didn’t pick up the phone, and Laos didn’t respond to media queries.

This latest directive is part of what Trump is calling his second-term immigration crackdown, and it’s clear he is not wasting no time. The seeds were sown back in October 2023 when he vowed to clamp down on travelers from places like Gaza, Libya, Syria, Somalia, and Yemen – basically, anywhere he claims poses a “security threat.”

Then came an executive order in January 2025, which tasked his cabinet with drawing up a hit list of countries with subpar screening procedures. Fast forward to now, and that list has become a reality.

The Last Bit,

This might just be the opening act. Reports from March suggested the administration was eyeing dozens of countries for potential travel restrictions. If this week’s ban is anything to go by, more names may be added soon.

For now, if your country isn’t on good terms with Trump or your paperwork isn’t spotless you’re likely not getting past U.S. borders anytime soon.