Donald Trump, the former U.S. President, has announced drastic overhaul of the H-1B visa program, commonly employed by technology firms to bring in top foreign talent. The new policy charges high fees and tighter eligibility, sending shockwaves through the international talent pool.
Trump’s H-1B Policy: Key Changes
1. $100,000 Annual Fee
Trump signed a proclamation that will charge an annual $100,000 fee per H-1B petition. This is a significant hike from the existing filing and registration fee.
2. “Gold Card” Visa Option
Apart from the new fee, the administration revealed a premium immigration route referred to as the “Gold Card” visa, which will demand a $1 million investment. This choice would expedite permanent residency for affluent foreigners.
3. Focus on Extraordinary Talent
The announcement emphasizes that H-1B visas will be issued to employees with outstanding skills so they are not only substitutes for American workers but are crucial to American businesses.
4. Implementation Timeline
The fee is imposed on nonimmigrant H-1B petitions submitted for positions commencing from foreign locations.
The rule will be in place for a minimum of 12 months and can be extended or altered.
Who Will Be Most Affected?
Small and Mid-Size Tech Companies: Businesses with thin budgets might not be able to afford the high fee.
Foreign Professionals: Entry-level candidates and junior professionals can seek opportunities abroad where visa policies are friendlier.
The U.S. Tech Industry: Disciplines such as AI, engineering, and software development might lose out on talent.
Global Competitors: Other countries like Canada, the UK, and Australia would gain by luring away top talent priced out of the American market.
Alternatives to Consider
Consider O-1 visas (for extraordinary ability) or other visa types.
Those who can afford more may consider the Gold Card or equivalent investor visa streams.
The profiles of applicants need to be bolstered with expert skills and high-level qualifications to keep pace.
