The Trump administration claims sales of the new immigration "gold card" have reached $1.3 billion.
President Donald Trump touted the card during a White House event on Friday, saying the money raised goes to the U.S. Treasury to reduce the country's debt.
"It's essentially the green card on steroids," Trump said.
The website for the immigration program went live on Dec. 10. It allows non-Americans the option to pay for a fast-track pathway to U.S. citizenship.
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Foreign nationals can pay $1 million plus a $15,000 processing fee for the Trump Gold Card, which grants them U.S. residency "in record time," the website states. Corporations, meanwhile, can also partake in the program by making a $2 million contribution and paying the $15,000 processing fee.
The Trump Corporate Gold Card will give foreign firms the ability to grant U.S. citizenship to employees and can be transferred from one employee to another for a 5% transfer fee, which covers the cost of a background check. The corporate option also requires a 1% annual maintenance fee.
The program is similar to the existing EB-5 visa program, which the U.S. began in 1990 to encourage job creation by foreign investors.
Commerce Secretary Howard Lutnick has said the Trump Gold Card system would replace the EB-5 visa program, emphasizing that all applicants would receive thorough vetting.
