President Donald Trump’s gold card visa program has attracted just 338 applicants since launch, far below early projections that it would draw wealthy foreign nationals in large numbers, according to a Department of Homeland Security (DHS) court filing.
The gold card program, introduced in 2025, was pitched by the Trump administration as a fast-track pathway to U.S. residency for foreign nationals willing to make a $1-million payment, alongside a $15,000 processing fee, to the government.
It is one of the rare new pathways to obtain residency in the U.S., as the administration has clamped down on legal migration and focused on pushing forward an aggressive mass deportation policy.
Only 165 applicants have paid the processing fee required to participate in the program, according to the filing reviewed by CNBC, which was submitted as part of ongoing litigation over the program’s legality and implementation.
Officials said it could generate significant revenue and draw high-net-worth individuals to the United States, but the DHS filing suggests the program has struggled to gain momentum in its early months.
Fast-Track Promises Don’t Add Up
The filing also cast doubt on one of the initiative’s central selling points, expedited processing. The DHS said in the filing that gold card applicants “will not necessarily have their petitions adjudicated faster than any non-gold-card applicant.”
That statement contradicts earlier claims from top administration officials that the costly visa would be a fast track to residency for wealthy investors.
The program has faced legal challenges from advocacy groups and academics who argue it conflicts with existing employment-based visa categories, including EB‑1 and EB‑2 visas, which are typically reserved for applicants with extraordinary or exceptional abilities.
Court Fight Adds to Scrutiny
The program is also the subject of a federal lawsuit filed in Washington, D.C., by the Democracy Defenders Fund and other groups, which accuses the Trump administration of withholding records about the gold card under the Freedom of Information Act.
The suit, filed against the Departments of Homeland Security, State, Commerce, and U.S. Citizenship and Immigration Services (USCIS), alleges the agencies failed to respond to requests for information on how the program was developed and implemented, and argues the initiative could allow wealthy applicants to bypass traditional merit‑based visa pathways.
Trump and Commerce Secretary Howard Lutnick announced the gold card in February 2025 as an early change to the administration’s legal immigration system, saying it would attract foreign investment by offering wealthy applicants green cards and a pathway to U.S. citizenship in exchange for a proposed $5-million fee.
The visa was initially intended to replace the longstanding EB‑5 investor visa, while the initial details of how the program would operate remained limited. The program formally launched in December with a website for applicants and a new USCIS application form. Lutnick claimed the government had sold $1.3-billion worth of gold cards within days of launch.
Secretary Lutnick told lawmakers at an April 23 hearing that “they have approved, recently, one person, and there are hundreds in the queue.”
Because immigration law is controlled by Congress, the administration established the program through executive action while tying it to existing visa categories, including EB-1 and EB-2.
Under the system, a $1-million payment can be treated as evidence that an applicant meets standards tied to extraordinary ability or national interest criteria.
The limited uptake comes as some of the world’s wealthiest investors are increasingly looking beyond the United States to diversify their assets and residency options, despite the country remaining the largest global wealth hub. Foreign-born ultra‑high‑net‑worth individuals in the U.S. are expanding investments overseas rather than relying on a single market, with emerging financial centers such as Singapore and Dubai gaining appeal, according to advisory firm Arton Capital.
Read the full article here
