Trump $1 Million 'Gold Card' Visa Has Approved Only One Applicant So Far
Only one applicant has been approved for the Trump administration's $1 million "gold card" investor visa since it launched in December, Commerce Secretary Howard Lutnick told Congress this week.
Lutnick also reiterated that the program could raise as much as $1 trillion for the federal budget, even though he said only one approval has been granted. He did not explain how that projection squares with his earlier claim that the government sold $1.3 billion worth of gold cards in several days.
The "gold card" program debuted in December as a replacement for the EB-5 investor visa and is being promoted on a glossy government website featuring the former president's image. Applicants must invest $1 million and pay a $15,000 fee, while corporations can pay $2 million plus a 1 percent annual maintenance fee to sponsor an employee.
Early publicity and social media promoted big sales figures, but Lutnick's testimony this week shows approvals lag far behind those claims and raises fresh questions about the program's revenue math and rollout.
📌 Key Facts
- The Trump administration's 'gold card' visa program, advertised as starting at $1 million, launched in December.
- Commerce Secretary Howard Lutnick told Congress the program has approved exactly one applicant since launching.
- Lutnick’s update contradicts his earlier claim that the government had sold $1.3 billion worth of gold cards in several days; he did not address that discrepancy but reiterated projections the program could raise $1 trillion to help balance the federal budget.
- Fee structure: individual applicants must invest $1 million and pay a $15,000 application fee; corporations can obtain a card for an employee by paying $2 million plus a 1% annual maintenance fee.
- The program is explicitly framed as a replacement for the EB-5 investor visa and is marketed on a glitzy government website featuring former President Trump’s image and a planned $5 million 'Trump Platinum Card' variant.
📰 Source Timeline (2)
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- Commerce Secretary Howard Lutnick told Congress the $1 million 'gold card' visa program has approved exactly one person since launching in December.
- Lutnick’s update contradicts his earlier claim that the government had sold $1.3 billion worth of gold cards in several days, a discrepancy he did not address at the hearing.
- Each applicant must pay a $15,000 fee in addition to the $1 million investment, and corporations can pay $2 million plus a 1% annual maintenance fee for an employee.
- Lutnick reiterated earlier projections that the program could raise $1 trillion to help balance the federal budget, despite the current one-approval record.
- The program is explicitly framed as a replacement for the EB-5 investor visa and is marketed via a glitzy government website featuring Trump's image and a planned $5 million 'Trump Platinum Card' variant.