338 apply for Trump's 'bargain' $1m Gold Card; only one approved so far

President Donald Trump's $1m golden visa has received just 338 applications despite his claims that it would "sell like crazy", reports The Telegraph.

The "Trump Gold Card," which offers an expedited route to US residency, was unveiled with significant fanfare in February 2025.

US Commerce Secretary Howard Lutnick had earlier said that 200,000 visas could generate $1 trillion for the US Treasury, though this estimate came before the price was reduced from $5 million to $1 million ahead of the scheme's planned launch in December.

"I happen to think it's going to sell like crazy. It's a bargain," Trump said.

However, a court filing this week revealed that only 338 people have submitted requests for the golden visa, while 59 applicants had progressed to a further stage with the homeland security department, which is vetting applications.

Lutnick said last week that just one applicant has so far been approved for the Trump Gold Card, which features the president's face and signature, along with an image of the Statue of Liberty and a bald eagle.

He added that there are "hundreds in the queue."

Lutnick told the House Committee on Appropriations that it is a newly established program designed to be implemented with extremely rigorous vetting.

The identity of the approved applicant remains unknown. In January, rapper Nicki Minaj claimed on social media that she had received a Trump card "free of charge." However, an anonymous White House official later told The New York Times that the card was merely a "memento" and not a visa document.

Jimmy Gomez, a Democratic representative from California, criticised the programme, saying, "Donald Trump promised his 'Gold Card' programme would bring in over $1bn for the US. It didn't even come close. Here's just how badly it fell short."

Under the scheme, Gold Card holders would fall within existing EB-1 or EB-2 visa categories, which typically require "extraordinary ability" or advanced degrees. Instead, applicants can qualify by paying $1 million and demonstrating "sufficient evidence that the individual will substantially benefit the United States," along with a $15,000 processing fee.

The programme's website states that, after payment, the visa process should take only "weeks."

The initiative has faced legal challenges from the American Association of University Professors, which argues that the scheme unlawfully displaces the existing visa system and prioritises "wealth over intellect or ability," while potentially increasing visa wait times.

In response, the Trump administration pointed to 51,371 EB-1 petitions and 116,193 EB-2 petitions filed in 2025, arguing that the scale of Gold Card applications is too small to affect processing times.

"Given the relative volumes of Gold Card and other EB-1 and EB-2 applications, tracing any systemic delays to the Gold Card applications would be impossible and incredible," the court filing stated.

A "Platinum Card" costing $5 million is also under consideration. This visa would offer significant tax perks, allowing holders to reside in the US for up to 270 days per year without being taxed on foreign income.

The scheme has yet to officially launch, and Lutnick said that introducing the Platinum Card would require approval from Congress.

The commerce department was approached for comment.