Only one person has been approved for US President Donald Trump's "gold card" visa program so far, Commerce Secretary Howard Lutnick said Thursday, referring to a million-dollar residency card unveiled last year.
The US leader signed an order last September to create the program offering residency for a fee of $1 million. It started accepting applications in December.
US officials have recently approved one person, Lutnick told a US House committee on Thursday.
"And there are hundreds in the queue" who are going through the process, he added.
Applicants also have to pay a $15,000 Department of Homeland Security processing fee, and Lutnick said they would go through a "most serious vetting and analysis."
The "gold card" residency program charges a $1 million fee for individuals and $2 million for sponsorships by corporations.
Its creation came at the same time that Trump ordered an annual $100,000 fee be added to H-1B skilled worker visas.
Trump initially said the new visa would bring in job creators and could be used to reduce the national deficit.
Since returning to the presidency in 2025, Trump has tightened immigration and his administration has conducted harsh deportation raids.
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