Trump Gold Card visa fails to take off: Only one approval so far

Commerce Secretary Howard Lutnick reveals massive gap between application sales and actual visa grants as hundreds remain under vetting.

 In a development that has raised eyebrows across the global diplomatic and tech corridors, President Donald Trump’s highly publicized "Gold Card" visa program has hit a significant roadblock. Despite earlier claims of a massive surge in interest, official testimony has revealed that only a single individual has been granted the prestigious residency permit so far.

The disclosure came during a high-stakes congressional committee hearing where Commerce Secretary Howard Lutnick was questioned on the progress of the initiative. The "Gold Card" program, designed to bypass traditional immigration hurdles for a $1 million fee, was touted as a cornerstone of the "America First" agenda to attract high-net-worth individuals and global talent.

Discrepancy in application figures

The current status of the program marks a sharp departure from the initial narrative presented by the administration. Earlier this year, Lutnick had indicated that approximately 1,300 applications—representing a staggering ₹10,800 crore in potential revenue—had been "sold" within days of the program’s rollout.

However, addressing the committee, Lutnick clarified that while hundreds of applications are currently in the pipeline, they remain trapped in a rigorous review process. This India News Update highlights the administrative bottleneck currently stalling a program meant to fast-track residency for wealthy foreigners.

Shift in visa pricing

The Gold Card initiative has seen several iterations since its first announcement in February 2025. Initially positioned at a premium price tag of $5 million, the administration slashed the entry cost to $1 million in September to broaden its appeal.

The program aims to offer "unlimited residency" to those who can afford it, providing almost all the benefits of American citizenship, excluding a passport and the right to vote. According to sources indicated in the hearing, the vetting process remains the primary hurdle for the 1,300 hopefuls currently awaiting approval.

Focus on global talent

Under the "America First" framework, President Trump has maintained that the US will prioritize "talented people" over those who might compete for domestic jobs. The program specifically targets wealthy investors and top-tier professionals, particularly students and entrepreneurs from nations like India and China.

"America will give visas only to talented people," the President had stated during the launch. The revenue generated from these $1 million fees is earmarked for a specific fiscal purpose: reducing the national debt and facilitating domestic tax cuts.

Replacing traditional visa categories

A significant long-term impact of the Gold Card is its intended role in restructuring the US immigration hierarchy. According to Lutnick, the Gold Card is positioned to eventually replace the EB-1 and EB-2 visa categories, which currently serve high-ability professionals and those with advanced degrees.

This shift suggests a move toward a more transactional immigration model. While the EB-1 and EB-2 routes rely on merit and employment sponsorship, the Gold Card prioritizes immediate capital investment, effectively merging the concepts of a Green Card and an investment visa.

Tiered visa card system

The Gold Card is part of a broader "Trump Card" ecosystem that includes the Trump Platinum Card and the Corporate Gold Card. While the Gold version offers permanent stay, the Platinum variant—slated for a future release—will allow individuals to reside in the US for up to 270 days a year without a travel visa.

Notably, the Platinum Card offers a unique tax incentive: holders will not be required to pay US taxes on income earned abroad. The Corporate Gold Card, meanwhile, allows companies to sponsor employees for a $2 million fee, following a non-refundable $15,000 background check.

Future of US residency

As the administration grapples with the slow approval rate, the international community is watching closely to see if the program can scale. For many Indian professionals who face decades-long waits for traditional Green Cards, the $1 million entry fee represents a prohibitively expensive but potentially faster alternative.

Whether the program will live up to its "1,300 applications" promise or remain a boutique offering for a select few remains to be seen. As of now, the "Gold Card" remains an exclusive club with only one member, keeping the Latest News Today focused on the future of US immigration reform.