The United States’ ‘Gold Card’ program, launched by President Donald Trump to offer rapid permanent residency for a $1 million fee, is struggling to attract wealthy applicants. According to a CNBC report, the initiative, introduced in December last year, promised record-time residency approvals but has failed to deliver. Court filings reveal that despite the high cost, applicants are not guaranteed faster visa processing, undermining the program’s main appeal.

Data from the Department of Homeland Security show that only 338 people have applied so far, with just 165 paying the $15,000 initial fee. Commerce Secretary Howard Lutnick had earlier projected 80,000 cards and over $100 billion in revenue. Legal experts note that the program’s shaky legal basis—launched by executive order without congressional approval—has led to court challenges. Critics argue it undermines existing EB-1 and EB-2 visa categories.

Immigration consultants say the lack of expedited processing and non-refundable payment make the Gold Card unattractive compared to the EB-5 program, which allows investment-based green cards with potential returns. Despite global demand for relocation among millionaires, the program has yet to gain traction.