Trump's Exclusive 'Gold Card' Visa Scheme Fizzles with Only One Applicant
Donald Trump’s ambitious visa initiative, dubbed the 'gold card', has failed to attract the wealthy clientele it aimed to entice. Announced last year, this premium visa offers a fast track for affluent individuals seeking residency in the United States.
With a staggering price tag of $1 million per person—approximately £740,000—or $2 million for companies seeking visas for employees, plus a $15,000 vetting fee, the scheme was positioned as a means to bolster the economy. Trump touted that the funds could help alleviate national debt while ensuring only the elite gain entry into the country.
However, the reality has been starkly different. Reports indicate that since its inception, only a single individual has applied for this exclusive visa. Initially, Commerce Secretary Howard Lutnick projected that the program could generate up to $100 billion for the government, but interest has been tepid at best.
Originally, officials announced plans to issue around 80,000 gold cards, claiming they would only accept “extraordinary people at the very top.” Yet, as it stands, only one unnamed applicant has received approval under this scheme.
Despite a dedicated application website launched in December, Lutnick mentioned that while there are 'hundreds' in line for the card, only one has successfully navigated the approval process. “This is a new program,” he explained, emphasizing the need for meticulous execution.
The official website outlines that the Trump Gold Card is contingent on an applicant's potential to provide significant benefits to the U.S. A nonrefundable $15,000 processing fee is required upfront, and upon successful vetting—which includes a $1 million donation—the applicant may be granted residency.
In addition to the gold card, a platinum version is reportedly in development, set to cost $5 million and allow holders to reside in the U.S. for up to 270 days without incurring taxes on non-U.S. income.
Currently, alternative visa options like EB-1 and EB-2 exist for individuals with advanced degrees or extraordinary abilities, providing clearer pathways to citizenship. The gold card is intended to replace these for those deemed to have exceptional value to the nation.
When questioned about how the funds generated from these cards would be allocated, Lutnick stated that decisions would be made by the administration with a focus on benefiting the United States.
