(Bloomberg) -- Only one person has been approved so far for Donald Trump’s “Gold Card” Visa program granting foreigners US residency for a $1 million fee, Commerce Secretary Howard Lutnick said Thursday.
Lutnick didn’t reveal the identity of the applicant who had been approved. He said in testimony to a US House committee that applications for the visa from “hundreds” more foreigners are under review.
Applicants must go through “an extraordinary vet” and must pay a $15,000 processing fee, he said.
The Trump administration began accepting applications for the visa in December.
The president has promoted the Gold Card visa program as a critical way of attracting talent to the US. Visa recipients pay $1 million to receive US residency.
The US Department of Homeland Security didn’t immediately respond to a request for comment.
--With assistance from Emily Birnbaum.
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