Only one person has been approved for Donald Trump’s $1 million Gold Card

Last year, US President Donald Trump announced a premium-level visa called the 'gold card', which is essentially an expedited pathway for people to get residency in the US.

They cost $1m (£740,000) for someone trying to get one for themselves, or two million dollars for companies seeking visas for employees, along with a $15k (£11,085) vetting fee.

When the plans were first announced, as part of the Trump administration's overhaul of the visa system in the US, Commerce Secretary Howard Lutnick said it would make money for the American government, possibly as much as $100 billion, which Trump suggested could be used to pay down the US debt.

Lutnick said about 80,000 gold cards would be made available at first, and that the US would stop 'taking in the bottom quartile' and instead 'only take extraordinary people at the very top'.

The cards were announced last year (Andrew Harnik/Getty Images)

However, according to The Independent, the administration has approved only one unnamed person for the gold card.

Although a website for applications was launched in December, Lutnick has said there are 'hundreds' queueing for the card, while one person has been approved.

He said: “This is a new program, and they’ve just set it up, and they wanted to make sure they did it perfectly.

“It’s a DHS program done with a rigorous, rigorous vetting.”

The website explains: "The Trump Gold Card is a visa based upon an individual’s ability to provide a substantial benefit to the United States. To apply, an applicant must pay a nonrefundable, $15,000 DHS processing fee. Once an applicant’s processing fee is received, the process for petition approval and visa adjudication will take place on an expedited basis, assuming applicants submit any additional documents or fees in a timely manner. A $1 million gift upon completion of the individual’s vetting is evidence that the individual will substantially benefit the United States."

It also says a platinum version is 'coming soon' and will cost five million dollars to let someone spend up to 270 days in the US without being taxed on non-US income.

According to reports, only one person has been approved (Brendan SMIALOWSKI / AFP via Getty Images)

At the moment, there are EB-1 and EB-2 visas, also known as employment-based visas, which have a clear path to US citizenship as they are given to those with either 'advanced degrees' or 'extraordinary ability'.

According to Politico, the 'gold card' is meant to be replacing these for those who have 'exceptional value' to the US.

When asked how the funds from the cards would be spent, Lutnick previously said: "That will be determined by the administration, and its terms are for the betterment of the United States of America."

UNILAD has reached out to the White House for comment.