JPMorgan is in talks with policymakers and stakeholders amid the US authorities’s hiked payment on H-1B visas, in response to a Reuters report. United States President Donald Trump has hiked the H1-B visa payment to $1,00,000 for brand spanking new functions.
Talking to Instances of India, JPMorgan CEO Jamie Dimon mentioned that the corporate is “partaking with stakeholders and policymakers”.
“For us, visas matter as a result of we transfer folks round globally, as a result of we transfer folks round globally — specialists who get promoted to new jobs in numerous markets,” Jamie Dimon instructed the paper.
New H-1B visa charges: What we
Donald Trump on September 19 signed a proclamation titled ‘Restriction on entry of sure non-immigrant staff’, which hikes H-1B visa charges to $1,00,000 for all new functions.
Amid huge confusion over the scope and finer particulars of the brand new rule, the White Home on September 20 additional clarified that the hiked $1,00,000 payment (round ₹90 lakh) will not be a annual cost.
“That is NOT an annual payment. It’s a one-time payment that applies solely to the petition and will not apply to present holders of legitimate visas re-entering the nation,” White Home spokesperson Karoline Leavitt mentioned in an in depth put up on social media platform X.
The H-1B programme grants 65,000 visas every year to employers hiring non permanent overseas staff in specialised fields, together with a further 20,000 visas for staff with superior levels.
Virtually all visa charges should be paid by employers. The H-1B visas are granted for a interval of three to 6 years, in response to a report by Reuters.
How did firms react?
The exorbitant hike triggered a wave of panic amongst US firms, particularly tech giants akin to Meta and Microsoft.
(With inputs from Reuters)
