US hikes H1B, L1 visa fee; to hit Indian ITcos

US hikes H1B, L1 visa fee; to hit Indian ITcos

FPJ BureauUpdated: Friday, May 31, 2019, 07:06 PM IST
article-image

Washington : The US has imposed an additional fee of up to USD 4,500 for certain categories of the popular H-1B and L-1 visas, in a blow to Indian IT firms which have to incur an additional burden of about USD 400 million annually.

The US Citizenship and Immigration Service (USCIS) said applicants for certain categories of H-1B visas post December 18, 2015 must submit an additional fee of USD 4,000. The H1B visa is designed to allow US employers to recruit and employ foreign professionals in speciality occupations within the US.      In addition, for those applying for certain L-1A and L-1B must submit an additional USD 4,500. L-1 visas are available to employees of an international company with offices in both the United States and abroad.

In a study released in September last year, NASSCOM, a trade association of Indian IT industry, said Indian IT companies have paid between USD 70 to USD 80 million annually for the US Treasury approximately. Given that, the new punitive measure is expected to raise between USD 1.4 billion and USD 1.6 billion every year for the next one decade.

It had said that as a result of the US action the Indian technology sector will have to bear additional burden of about USD 400 million annually and this could adversely impact competitiveness of India’s tech sector.

This fee is in addition to the base processing fee, Fraud Prevention and Detection Fee, American Competitiveness and Workforce Improvement Act of 1998 fee (when required), as well as the premium processing fee, if applicable. This will remain effective through September 30, 2025, USCIS said.

RECENT STORIES

Bridging The Gap: How Technology Transforms Regulatory Compliance In Finance

Bridging The Gap: How Technology Transforms Regulatory Compliance In Finance

Mastering Network Operations: A Deep Dive Into Professional Growth In The Tech Sector

Mastering Network Operations: A Deep Dive Into Professional Growth In The Tech Sector

Mumbai: Sustainable Housing Gives Real Estate Sector A Boost In MMR

Mumbai: Sustainable Housing Gives Real Estate Sector A Boost In MMR

Divorce Disputes Spill Over To Board Room: Nawaz Modi Alleges Gautam Singhania; Uses Personal...

Divorce Disputes Spill Over To Board Room: Nawaz Modi Alleges Gautam Singhania; Uses Personal...

Meta Shares Crash Over 10% As Anxiety Over Success Of AI Surges

Meta Shares Crash Over 10% As Anxiety Over Success Of AI Surges