U.S. Commerce Secretary Howard Lutnick: Only 1 Approval for 'Gold Card' Program So Far
Multiple English media outlets reported that U.S. Commerce Secretary Howard Lutnick testified in the House that since the so-called "Gold Card" visa program began accepting applications, only 1 applicant has been approved, despite the government's previous claims of attracting "hundreds of thousands of wealthy applicants willing to pay $1 million." The program, launched by the Trump administration, allows foreigners to "donate" $1 million to the U.S. government and pay an additional non-refundable processing fee of $15,000, after which they can obtain long-term residency in the U.S. following a background check by the Department of Homeland Security. It has been referred to as a strengthened version of "paying for a green card."
Public information shows that the official application website for the Gold Card visa has been online for several months, and the White House and the Commerce Department previously claimed that the program would bring substantial revenue to the federal treasury and become an important tool for attracting high-net-worth individuals globally. However, it is currently confirmed that "hundreds of people are waiting for review, but only 1 has been approved," and their identity has not been disclosed. Immigration lawyers and policy research institutions point out that the plan overlaps functionally with the traditional EB-5 investment immigration program but weakens the employment and actual investment requirements, being criticized as a more direct "cash-for-identity pathway." It has also faced lawsuits and public scrutiny due to legal risks and political controversies.
Source: Public Information
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Gold Card's awkward situation is a backlash after the U.S. has taken the logic of "pricing immigration as an asset" to extremes. During the EB-5 era, there was at least a narrative emphasis on "investment + employment + regional development," whereas the Gold Card simplifies complex conditions to a "one-time payment of $1 million," further monetizing long-term residency and green cards in the U.S., symbolically transforming "citizenship/long-term residency" into a more naked financial product. When such a product is actually implemented, political risks, public acceptance, and legal legitimacy immediately become constraints far greater than the technical execution itself.
From the demand side, "only 1 approval" does not mean there is a lack of wealthy individuals willing to pay, but rather indicates that under the current global options, the U.S. pathway, which is "high-priced but politically controversial and procedurally opaque," has limited competitiveness. Several European countries have attracted funds through real estate immigration, golden visas, and passport programs, but most have been accompanied by certain investment or residency requirements and have tightened under public pressure; the U.S. directly launching a "donation for identity" version is difficult to pass domestic voter scrutiny and raises concerns among international high-net-worth individuals about the sustainability of the policy—such policies can be reversed by a single administration, making asset and identity security hard to predict in the long term.