Trump $1 mn gold card visa sees just one approval, hundreds still in queue

Trump's $1 million gold card visa has cleared just one applicant so far, even as officials say hundreds remain in the pipeline

US President Donald Trump’s “gold card” visa, which allows foreigners to pay at least $1 million to live and work in the United States, has so far been approved for just one applicant, according to Commerce Secretary Howard Lutnick — a figure that appears to fall short of earlier claims about strong demand.

 

After the programme launched in December, Lutnick had said the government sold $1.3 billion “worth” of gold cards within days. At a congressional committee hearing on Thursday, he did not address the gap between that claim and the single approval.

 

Trump had earlier described the programme as “essentially the green card on steroids”, presenting it as a fast-track route for wealthy migrants.

   

Only one approval so far, but more in queue

 

Though only one application has been cleared, Lutnick told lawmakers that more are being processed.

 

“There are hundreds in the queue that they are going through,” he said at the hearing.

 

“They’ve just set it up, and they wanted to make sure they did it perfectly,” he added.

 

The programme is being pitched as a replacement for the EB-5 Immigrant Investor Program, which required foreign nationals to invest about $1 million in a business that creates at least 10 jobs.

 

Revenue claims and fee structure

 

Lutnick had earlier said the gold card could generate $1 trillion and help reduce the US budget deficit. The country’s publicly held debt stands at $31.3 trillion, while projections from the Committee for a Responsible Federal Budget put this year’s deficit at roughly $2 trillion.

 

Each applicant is required to pay a $15,000 processing fee, in addition to the $1 million contribution.

 

“That allows for rigorous vetting,” Lutnick said, adding that the scheme could eventually lead to US citizenship.

 

Companies are also allowed to sponsor foreign-born employees by paying $2 million, along with a 1% annual maintenance fee.

 

The official website presents the programme with the slogan “Unlock life in America”, alongside a gold card design featuring Trump’s image, a bald eagle, the Statue of Liberty, and his signature. It also promotes a proposed $5 million “Trump Platinum Card”, offering extended stays without tax on non-US income.

 

How the gold card works

 

The gold card has been framed as an alternative to traditional investor visas. Instead of investing in businesses, applicants make a direct $1 million payment to the US government.

 

According to the programme details:

 

 < Applicants must pay a $15,000 processing fee to the Department of Homeland Security

< After background checks, residency is promised “in record time”

 < Companies can sponsor workers by contributing $2 million

 

New York-based immigration lawyer Cyrus D Mehta said the programme has been structured using existing legal categories.

 

“Trump’s Gold Card is an amazing feat in executive legerdemain,” Mehta wrote in a blog post.

 

“Although Congress has not explicitly authorised it, the Gold Card has been cleverly appended to the employment-based first preference (EB-1) and second preference (EB-2) categories through executive order,” he said.

 

Applicants are required to file a new I-140G petition and qualify under either the EB-1 extraordinary ability or EB-2 exceptional ability or national interest waiver categories.

 

Why lawyers say it may not deliver benefits

 

Immigration lawyers say the programme does not create a new pathway or reduce waiting times.

 

“Donald Trump’s proposed Gold Card does not create a new immigration pathway for Indian citizens, nor does it offer any real relief from long-standing US green card backlogs,” immigration attorney Prashant Ajmera told Business Standard.

 

“Applicants would be required to pay a non-refundable $1 million to the US Treasury, along with roughly $15,000 in additional fees. A higher-priced $5 million ‘Platinum’ option is also being discussed, but it still routes applicants through the same EB-1 or EB-2 categories,” he said.

 

Ajmera said the core issue remains unchanged.

 

“Paying $1 million does not override per-country quotas or congressional visa caps, and there is no mechanism that allows applicants to jump the queue,” he said.

 

He added that the programme differs from the EB-5 visa because it does not involve investment or job creation.

 

“The payment is non-refundable. It is a pure fee rather than an economic contribution,” Ajmera said.

 

Compliance risks and legal uncertainty

 

Lawyers also point to compliance checks and legal risks for applicants.

 

“Applicants are likely to be asked for detailed tax returns, bank records, and proof of compliance with RBI remittance rules,” Ajmera said.

 

“With no official USCIS checklist released so far, the lack of clarity adds legal and financial risk,” he added.

 

Mehta said the programme could face legal challenges.

 

“The Gold Card will not be immune to challenges in federal court that it was issued without Congressional authorisation,” he said.

 

“If a court blocks the programme, applicants may not get their money back. Another president can rescind the Gold Card as well,” Mehta said.

 

“Buyers of Trump’s Gold Card should take the plunge with their eyes wide open — that is if they can afford spending and even throwing away $1 million and more,” he added.

 

Ajmera was more direct.

 

“Bottom line is wealthy Indians, save your $1 million,” he said.