The Donald Trump administration’s high-profile Gold Card Visa program has seen limited progress since its launch. Officials confirmed that only one applicant has been approved so far, despite early claims of strong demand.
The Gold Card Visa was introduced as a fast-track immigration route for wealthy foreign nationals. It was designed to attract investment into the United States. Under the program, applicants must pay at least $1 million along with a $15,000 application fee. In return, they receive legal residency and work rights in the country.
Donald Trump had earlier described the Gold Card Visa as a premium alternative to traditional immigration pathways. The initiative was expected to generate significant revenue for the U.S. economy. However, recent disclosures suggest that approvals have been slower than expected.
Speaking before lawmakers, Howard Lutnick confirmed that only one application has been approved since the program began in December. He noted that hundreds of applications are still under review. According to officials, the administration is taking a cautious approach to ensure proper screening and compliance.
The slow pace of approvals has raised questions about the program’s performance. Earlier, Lutnick had claimed that the initiative generated around $1.3 billion shortly after launch. However, during the hearing, he did not provide clear details to support that figure. Lawmakers also questioned projections that suggested the Gold Card Visa could raise up to $1 trillion over time.
Another key concern discussed was the use of funds collected through the program. Officials stated that decisions on spending would be made by the administration. However, no detailed plan or breakdown was shared during the session.
The Gold Card Visa system is similar to investment-based immigration programs in other countries. Nations such as the United Kingdom, Spain, Greece, Australia, and Canada offer residency options in exchange for investment.
Experts say such programs often attract high-net-worth individuals. However, they also require strict checks to prevent misuse. The U.S. government appears to be following a similar cautious approach.
In other news, read more about: Trump Responds to Iran Link After Washington Dinner Shooting
For now, the Gold Card Visa remains under scrutiny. With only one approval so far, its future impact on investment and immigration policy is still uncertain.
