President Donald Trump’s decision to hike the application fee for companies in the United States hiring overseas workers on H-1B visas is likely to push many foreign skilled workers to seek jobs in other countries instead.The steep cost rise to $100,000 per application is designed to encourage US companies to favour US workers over foreign skilled workers. But it comes as a blow to big technology companies in particular, as they rely heavily on skilled workers from overseas.Recommended Stories list of 4 itemsend of listThe H-1B visa was introduced in 1990 under President George HW Bush. Today, Indian tech workers constitute the bulk of H-1B visa recipients – last year, they received 71 percent of approved H-1B visas, followed by Chinese nationals in second place with 11.7 percent.Trump’s move could lead to weaker economic growth in the US, experts have warned, since higher costs for employers will make it harder to retain foreign talent. It could also lead to a near-term “brain drain”, as skilled university graduates are forced to leave the US in favour of other countries.What has the Trump administration announced in relation to H-1B visas?In a decree signed by Trump on September 19, his administration announced that from 12:01am ET (04:01 GMT) on September 21, US companies must pay $100,000 per H-1B application.The fees previously ranged from $2,000 to $5,000, depending on the size of the company applying for the visa. The H-1B visa, initially granted for up to three years, enables US companies to hire foreign workers with specialised skills. It can be extended up to six years, but the application fee must be paid again when extending the visa. Advertisement The H-1B pr …
