In a move set to impact thousands of Bharat professionals, the United States has announced a substantial hike in fees for several non-immigrant visa categories, including the widely-used H-1B visa. The fee adjustments are slated to take effect from April 1, 2024. The H-1B visa is crucial for US tech companies, enabling them to hire foreign workers with specialized technical skills, often from countries like Bharat and China.
The H-1B application visa fee is set to rise sharply from $460 to $780. Additionally, the fee for H-1B registration, a preliminary step in the application process, will see a significant increase from $10 to $215 starting next year. This development could have widespread implications for Bharat professionals seeking employment opportunities in the United States.
Another category affected by the fee hike is the L-1 visa, designed for intracompany transferees. The fee for L-1 visas will surge from $460 to $1,385. Multinational companies use the L-1 visa to temporarily transfer certain employees from their foreign offices to work in the United States. The increase in fees for this category could impact business operations and cross-border employee mobility.
Investors seeking the EB-5 visa, known for attracting high-net-worth individuals, will also face a substantial fee increase. The EB-5 visa, commonly referred to as an investor visa, requires a minimum investment of $500,000 in a US business, creating job opportunities for American workers. The fee for this visa category has surged from $3,675 to $11,160.
The Department of Homeland Security, responsible for these changes, stated that adjustments to fees, forms, and structures would result in net costs, benefits, and transfer payments. This move is part of broader immigration policies, and the impact will be felt not only by visa applicants but also by US companies and the economy at large.
Earlier this year, Tesla CEO Elon Musk criticized the US for placing a cap on visas under the H-1B category. Musk emphasized the need to streamline legal immigration processes, stating that while it is relatively easy to enter the US illegally, legal immigration poses significant challenges for skilled individuals.
The H-1B category has long been a vital avenue for Indian tech professionals, but limitations on the number of applications accepted each year underscore the growing complexity of the immigration landscape. As these fee increases take effect, stakeholders will be closely watching for potential consequences on the movement of skilled workers and the overall dynamics of the US job market.
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