Trump’s $1 Million ‘Gold Card’ Visa Program Has Approved Just 1 Person Since December Launch

Published on Reflecto News | World News | Immigration & Politics

The Trump administration’s high-profile “Gold Card” visa program — which charges foreigners at least $1 million for U.S. permanent residency — has so far been approved for only one person, Commerce Secretary Howard Lutnick testified under oath before a House Appropriations subcommittee on Thursday . The revelation comes more than four months after the program was launched in December 2025 and stands in stark contrast to earlier boasts of massive interest .

The disclosure has triggered sharp scrutiny on Capitol Hill, as the administration has simultaneously projected that the program could raise billions—and even trillions—of dollars to help balance the federal budget .

‘Cautious and Meticulous’: Only One Approval After Months of Processing

Under questioning by Rep. Grace Meng (D-N.Y.), Lutnick confirmed that the Department of Homeland Security (DHS) has completed its “extraordinary vet” process for exactly one applicant . He assured the committee that hundreds of other applicants are “in the queue” but did not provide a timeline for when they might be processed .

“They have approved recently one person, and there are hundreds in the queue that they are going through the process. They’ve just set it up, and they wanted to make sure they did it perfectly.”
— Howard Lutnick, U.S. Secretary of Commerce

According to DHS guidelines, the vetting for the Gold Card is more rigorous than standard visa checks. Applicants must pay a non-refundable $15,000 processing fee—compared to the usual $600—to cover enhanced security and background screenings, which Lutnick described as “the most serious vetting and analysis of any potential applicant in the history of government” .

Once approved, the $1 million gift is collected, and the applicant receives lawful permanent resident status under the EB-1 or EB-2 employment-based visa categories . The path to citizenship remains open after meeting standard residency requirements.

From Billion-Dollar Boasts to a Single Cardholder

The single approval deviates sharply from earlier, far more optimistic projections by the administration and the Commerce Secretary himself .

• December 2025 Launch: Trump announced the program with great fanfare, holding up a physical “Gold Card” at a White House event and declaring it to be “essentially the green card on steroids” .
• Initial Claims: Shortly after launch, Lutnick stated that the government had received interest representing $1.3 billion “worth” in just a few days, suggesting a rush of billionaires eager to buy their way into the country .
• The ‘All-In Podcast’ Remark (March 2025): Before the program was even finalized, Lutnick boasted that he had already sold 1,000 Gold Cards at a higher $5 million price point. He did not address the discrepancy between that claim and today’s testimony when pressed by lawmakers .
• The $1 Trillion Goal: At a cabinet meeting last year, Lutnick predicted the program could generate enough revenue to help “balance the budget, ” a claim that is now being revisited given the current national debt of $31.3 trillion and a projected annual deficit of roughly $2 trillion .

Program Details and Legal Obstacles

Designed to replace the existing EB-5 immigrant investor visa, the Gold Card is intended to streamline the path to residence for ultra-wealthy individuals . Unlike the EB-5—which requires a $1 million investment in a U.S. business that creates at least 10 jobs—the Gold Card is structured as a direct “gift” to the U.S. government, with no requirement to create jobs or actively manage a business .

• Cost: $1 million for an individual, plus a $15,000 processing fee .
• Corporate Option: Companies can spend $2 million to sponsor a foreign-born employee (with a 1% annual maintenance fee) .
• Platinum Tier: A proposed $5 million “Platinum Card” is also advertised on the government website, promising up to 270 days in the U.S. without being taxed on non-U.S. income .

However, the program faces significant legal headwinds. A federal lawsuit is currently pending, challenging the legality of the executive order, as critics argue that creating a new pathway to citizenship requires congressional approval, not just the president’s signature .

“The Gold Card draws from the EB-1 and EB-2 categories, which are subject to annual numerical caps and per-country limits. Approvals are likely to remain constrained regardless of demand.”
— Statement from Immigration attorneys

Political Reactions and Budget Implications

The revelation has drawn sharp responses from both sides of the aisle. Democrats on the subcommittee questioned the sheer waste of administrative resources, noting that processing thousands of applications with such a high level of scrutiny would be virtually impossible, and that the program’s revenue projections are entirely implausible .

• Rep. Grace Meng (D-N.Y.) pressed Lutnick on how the administration plans to spend the contributions from the “gift account,” to which Lutnick vaguely replied that the funds would be used for “the betterment of the United States of America” .
• Fiscal Reckoning: With the government still running a massive deficit, the failure of the Gold Card to generate expected revenues has intensified calls to reconsider the program entirely .

As of Thursday evening, the White House had not issued a formal response to the testimony. The Department of Commerce website continues to accept applications for the Gold Card, though it remains unclear when—or if—the next batch of approvals will be granted .

What are your thoughts on the new Gold Card visa? Do you think it will ever become a significant revenue source for the U.S. government, or is the current slow rollout a sign of deeper structural issues? Share your opinion in the comments below.

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