Trump's 'gold card' visa starting at $1 million granted to just 1 person so far, White House says
President Donald Trump's 'gold card' visa program, requiring a $1 million investment for legal U.S. residency, has seen one approval. Commerce Secretary Howard Lutnick stated hundreds are in the queue. This initiative aims to attract foreign tale...
By ET Online | Updated:
AP
The United States has approved its first “gold card” visa applicant, a programme introduced under President Donald Trump that allows wealthy foreigners to live and work in the country by paying at least $1 million. Commerce Secretary Howard Lutnick confirmed the development during a congressional committee hearing on Thursday, while also noting that many more applications are under review.
The update comes months after earlier claims that the programme had generated $1.3 billion in value within days of its launch in December. Lutnick did not explain the gap between those claims and the current approval numbers when questioned during the hearing.
The “gold card” visa was proposed last year by Trump, initially priced at $5 million. The plan aims to attract foreign talent and increase government revenue. It is intended to replace the long-running EB-5 visa programme, which granted residency to individuals investing around $1 million in businesses that employ at least 10 people.
Also Read| Inside Trump’s Gold Card program and how it works
Lutnick said, “there are hundreds in the queue that they are going through,” adding that authorities are taking time to ensure the process is set up correctly. He said, “They've just set it up, and they wanted to make sure they did it perfectly.”
The programme includes a $15,000 application fee in addition to the investment amount. According to Lutnick, this fee supports strict background checks and vetting of applicants. The scheme also allows companies to sponsor foreign employees by paying $2 million, along with a 1% annual maintenance fee.
A government website promoting the visa programme describes it as a way to “Unlock life in America” and features a gold card design with Trump’s image and national symbols. It also advertises a proposed $5 million “Trump Platinum Card,” which would allow individuals to stay in the U.S. for up to 270 days without paying tax on non-U.S. income.
Lutnick had earlier said the initiative could generate up to $1 trillion and help address the federal budget deficit. Current estimates place the U.S. public debt at $31.3 trillion, with projections suggesting a deficit of about $2 trillion for the current fiscal year.
Also Read| A million-dollar Gold Card, yet the same long wait for Indians eyeing American shores
When asked about the use of funds raised through the programme, Lutnick said, “That will be determined by the administration, and its terms are for the betterment of the United States of America.”
The concept of offering residency in exchange for investment is already in place in several countries, including the United Kingdom, Spain, Greece, Malta, Australia, Canada and Italy.
The update comes months after earlier claims that the programme had generated $1.3 billion in value within days of its launch in December. Lutnick did not explain the gap between those claims and the current approval numbers when questioned during the hearing.
The “gold card” visa was proposed last year by Trump, initially priced at $5 million. The plan aims to attract foreign talent and increase government revenue. It is intended to replace the long-running EB-5 visa programme, which granted residency to individuals investing around $1 million in businesses that employ at least 10 people.
Also Read| Inside Trump’s Gold Card program and how it works
Lutnick said, “there are hundreds in the queue that they are going through,” adding that authorities are taking time to ensure the process is set up correctly. He said, “They've just set it up, and they wanted to make sure they did it perfectly.”
The programme includes a $15,000 application fee in addition to the investment amount. According to Lutnick, this fee supports strict background checks and vetting of applicants. The scheme also allows companies to sponsor foreign employees by paying $2 million, along with a 1% annual maintenance fee.
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A government website promoting the visa programme describes it as a way to “Unlock life in America” and features a gold card design with Trump’s image and national symbols. It also advertises a proposed $5 million “Trump Platinum Card,” which would allow individuals to stay in the U.S. for up to 270 days without paying tax on non-U.S. income.
Lutnick had earlier said the initiative could generate up to $1 trillion and help address the federal budget deficit. Current estimates place the U.S. public debt at $31.3 trillion, with projections suggesting a deficit of about $2 trillion for the current fiscal year.
Also Read| A million-dollar Gold Card, yet the same long wait for Indians eyeing American shores
When asked about the use of funds raised through the programme, Lutnick said, “That will be determined by the administration, and its terms are for the betterment of the United States of America.”
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The concept of offering residency in exchange for investment is already in place in several countries, including the United Kingdom, Spain, Greece, Malta, Australia, Canada and Italy.
The Trump Gold Card is a new visa program launched by President Donald Trump on September 19, 2025. Introduced for wealthy foreign investors, entrepreneurs, and business leaders, it provides a pathway to U.S. residency in exchange for a significant financial contribution to the Department of Commerce.
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