Trump’s ‘Gold Card’ Visa Draws 338 Applications, With One Approval

Overview

• Commerce Secretary Howard Lutnick told Congress the program logged 338 formal applicants, with Justice Department records showing 165 paid the $15,000 fee, 59 reached DHS and State vetting, and one visa gained approval.
• The offer grants expedited U.S. residency for a $1 million investment, and a teased $5 million Platinum tier would allow up to 270 days in the country without U.S. tax on overseas income.
• Lutnick previously floated revenue of up to $1 trillion from selling more than 200,000 visas and as much as $5 trillion including premium tiers, figures far above current demand.
• The American Association of University Professors has sued, arguing the program unlawfully swaps a merit-based immigration system for a pay-to-stay model.
• Backed by billionaire donor John Paulson as a debt-reduction push, the initiative drew about 70,000 initial website sign-ups, yet few applicants advanced beyond paying the processing fee.