Kenneth Glad
A costly residency program is facing questions about whether it can deliver what was promised. Officials once said it could bring in billions of dollars, but only one applicant has been approved so far.
Only one person has been approved for Donald Trump’s $1 million “Gold Card” visa program, according to Forbes and AP, both citing Commerce Secretary Howard Lutnick’s April 2026 testimony to lawmakers.
The program was created for wealthy foreign applicants seeking legal residence in the United States.
TV 2 describes it as a shortcut for multimillionaires who wants permission to live and work in the country.
Applicants must first pay a non-refundable $15,000 processing fee. After vetting, individuals are expected to make a $1 million payment to the US government.
AP said a corporate version allows companies to sponsor foreign workers for $2 million.
Requests outnumber approvals
The numbers show how few people have moved beyond early interest. CNBC said 338 people had submitted requests, while 165 had paid the initial processing fee.
Those figures measure different stages of the process. A request shows curiosity or intent, the processing fee marks a firmer step, and approval means the applicant has cleared government review.
TV 2 writes that only one person had completed the final $1 million payment stage in the April status update.
That outcome is far below the administration’s earlier projections. CNBC said Lutnick had previously predicted 80,000 cards and more than $100 billion in revenue. TV 2 said Lutnick expected the government eventually to sell thousands of cards and raise billions of dollars.
Legal questions remain
CNBC writes that the Gold Card program relies on existing EB-1 and EB-2 visa categories, which are normally used for applicants with extraordinary or exceptional ability.
That has become a key point in the legal fight. Critics argue the administration is trying to change access to visa categories without Congress creating a new immigration pathway.
A Department of Homeland Security filing also cast doubt on claims that Gold Card applicants would receive faster treatment.
“Gold Card applicants will not necessarily have their petitions adjudicated faster than any non-Gold-Card applicant,” DHS said, according to CNBC.
Craig Becker, managing counsel for the Affirmative Litigation Democracy Defenders Fund, told the network: “We just don’t know what the real answer is because there is no transparency.”
For potential applicants, the risk is straightforward: the fee is high, the timeline is unclear and the program’s legal footing is still contested.
Sources: TV 2, CNBC, Forbes, AP
