Trump's 'gold card' visa approved for only one person so far
During a congressional committee hearing on Thursday, US Commerce Secretary Howard Lutnick disclosed that only one individual has received President Donald Trump's 'gold card' visa. This revelation contradicts previous assertions that the program generated US$1.3 billion in just a few days. The visa permits foreigners who invest a minimum of US$1 million to reside and work in the United States. While Lutnick did not clarify the inconsistency, he mentioned that there are hundreds of pending applications. Launched in December, this initiative aims to succeed the EB-5 visa, which mandated a US$1 million investment in a business employing at least 10 people. Trump had originally suggested a US$5 million fee, claiming it would draw foreign talent and enhance federal income.
Key facts
- Only one person has been approved for Trump's 'gold card' visa.
- Commerce Secretary Howard Lutnick disclosed the figure at a congressional committee hearing on Thursday.
- The visa costs at least US$1 million for foreigners to live and work in the US.
- An earlier claim said the scheme had brought in US$1.3 billion 'worth' in just days.
- Lutnick did not address the discrepancy but said hundreds are in the queue.
- The program launched in December and replaces the EB-5 visa.
- EB-5 required a US$1 million investment in a company with at least 10 employees.
- Trump initially suggested a US$5 million price tag.
Entities
Institutions
- US Commerce Department
- Congressional committee
Locations
- United States