Only 1 'Trump Gold Visa' Approved Despite $1.3 Billion 'Sold' - Here's What We Know

Despite claims of more than £1 billion in sales, the Trump administration's 'Gold Card' visa programme has approved just one applicant so far, raising fresh questions about how the scheme is operating. The initiative promises expedited US residency in exchange for substantial payments, yet its real-world rollout appears far more limited than expected.

The Claimed Sales Versus Actual Approvals

Commerce Secretary Howard Lutnick told lawmakers that the government had sold more than £1 billion worth of Gold Card visas (approximately $1.35 billion). He explained that the Department of Homeland Security had only recently approved one applicant. Lutnick confirmed there are hundreds of applicants waiting in the system but insisted the process was still in its early stages.

Lutnick's remarks suggest a gap between the programme's reported sales and actual approvals. He indicated that the delay stems from the newness of the scheme, stating, 'the process was recently resolved with DHS, who runs the programme, and they do the most serious vetting and analysis of any potential applicant in the history of government.'

How Does the Gold Card Scheme Work?

The scheme was launched through an executive order where applicants pay a $15,000 (approximately £11,000) application fee and donate $1 million (around £770,000) to the Commerce Department in exchange for a faster route to legal permanent residence. The process requires a substantial financial commitment but claims to expedite obtaining EB-1 or EB-2 visas.

Employers can also participate via the 'Trump Corporate Gold Card' programme. This option involves a $15,000 fee plus a $2 million (about £1.54 million) gift, with annual maintenance and transfer fees. The programme aims to provide a legal pathway for wealthy investors or corporations seeking residence rights.

Who Has Been Approved?

The recipient of the only approved Gold Card visa is believed to be Jeffrey Chao, a Chinese national and founder of TP-Link Systems Inc., a California-based ethernet technology firm. Bloomberg reported in March that Chao had applied for the programme, citing sources familiar with the matter. The Commerce Department is currently investigating TP-Link over national security concerns linked to Chinese ties, according to Bloomberg.

A spokesperson for TP-Link stated Chao resides in Irvine, California, and is pursuing permanent residency. However, they did not confirm whether Chao officially applied for the Gold Card programme. The lack of clear confirmation fuels questions about the programme's transparency and the process for selecting approved applicants.

Legal Challenges and Public Concerns

Since its inception, the Gold Card programme has faced legal challenges. In February, a group of immigrants filed a lawsuit to block the scheme, arguing it prioritises wealth over merit. The plaintiffs contend that the programme's structure effectively grants residency based on financial contributions, rather than skills or talent.

Additionally, watchdog organisations have sought access to records related to the programme. They accuse the government of handling the visas like exclusive memberships, citing the high costs involved. Kevin Bell of the Free Information Group described the scheme as akin to 'million-dollar Mar-a-Lago memberships,' reflecting concerns over fairness and transparency.

What's Next for the Programme?

Despite the large sums claimed to have been generated, the programme's future remains uncertain. The limited number of approvals suggests the vetting process is thorough but slow. Lawmakers and watchdog groups continue to scrutinise the scheme's legality and fairness, especially given the lawsuits and ongoing investigations.