Only One Approval for Trump's 'Gold Card' Visa Scheme Amid High Interest
Only One Person Granted Donald Trump's 'Gold Card' Visa So Far
News 18
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The United States has approved only one applicant under the 'Gold Card' visa scheme proposed by former President Donald Trump, which requires a $1 million investment for residency. Despite significant interest from foreign nationals, the approval process remains slow, with hundreds of applications still under review.
- 01Only one applicant has been approved for the 'Gold Card' visa scheme.
- 02The program requires a $1 million investment for U.S. residency.
- 03Hundreds of applications are currently being reviewed.
- 04The vetting process is described as rigorous and includes a $15,000 processing fee.
- 05The initiative aims to attract wealthy individuals and skilled professionals to the U.S.
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The 'Gold Card' visa scheme, introduced by former President Donald Trump, has seen only one approval since its inception in December. This visa offers U.S. residency in exchange for a $1 million investment. During a recent hearing, U.S. Commerce Secretary Howard Lutnick reported that while there is significant interest, with applications from hundreds of foreign nationals under review, the approval process is slow and cautious. Applicants must pay a $15,000 processing fee and undergo an extensive vetting process involving detailed background checks. The program is intended to attract global talent and boost investment in the U.S., but the limited number of approvals indicates challenges in its rollout.
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The slow approval process may deter wealthy individuals from investing in the U.S., impacting potential economic benefits.
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