US President Donald Trump’s high-profile “Gold Card” visa program, once promoted as a major revenue generator for the United States, has so far been granted to only one applicant, according to testimony from officials.
The Gold Card visa program was introduced by Donald Trump as a fast-track immigration route for wealthy foreign nationals.
Priced at $1 million plus a $15,000 application fee, it offers legal residency and work rights in the United States. Trump had previously described it as “the green card of steroids.”
Only one approval so far
Despite earlier expectations of massive demand, Commerce Secretary Howard Lutnick told lawmakers that only one person has been approved since the program launched in December.
He also said there are hundreds of pending applications, adding that the administration is being careful to ensure “everything is done perfectly” before expanding approvals.
Revenue claims under scrutiny
Lutnick had previously claimed the program generated around $1.3 billion in sales shortly after launch. However, he failed to clearly explain this figure during a congressional hearing.
Lawmakers also questioned earlier projections suggesting the program could raise up to $1 trillion for the U.S. government.
Govt response on fund usage
When asked how the collected fees would be used, Lutnick said the decision would be made by the administration “for the betterment of the United States of America.”
No detailed breakdown of fund allocation was provided during the hearing.
Under the Gold Card system, foreign applicants must pay at least $1 million, along with the additional application fee, in exchange for residency rights in the U.S.
The concept is similar to “golden visa” schemes used in countries such as the United Kingdom, Spain, Greece, Australia, and Canada, which offer residency in return for investment.
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