The "Trump Gold Card" visa program, introduced in December last year by US President Donald Trump, has so far approved only one applicant, US Commerce Secretary Howard Lutnick said on April 23.
Speaking at a hearing of the House Committee on Appropriations, Lutnick disclosed that just one individual has been granted the visa to date, without revealing the applicant's identity. He added that "hundreds more are in line awaiting approval." Applicants must undergo "strict vetting" and pay an application fee of US$15,000, he said.
When asked how the program—expected to generate billions of dollars in revenue—would use the funds, Lutnick said the money would go toward improving the US, without providing further details.
According to the official website of the "The Trump Gold Card" program, foreign applicants can obtain US permanent residency at a record pace by paying a screening fee, undergoing review by the US Department of State and the Department of Homeland Security, and then investing US$1 million.
A corporate version of the "Gold Card" is also available, allowing companies to apply for one or multiple employees. In addition, the Trump administration has introduced a US$5 million "Platinum Card," which permits holders to reside in the US for up to 270 days per year without being taxed on income earned outside the country.
Last year, alongside the launch of the "Gold Card," the Trump administration also ordered an additional annual fee of US$100,000 on H-1B specialty occupation visas, drawing criticism that the policy could deter global talent.
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