US visa fee hike: IT firms must brace for profit hit
In a move that is expected to hit Indian IT companies majorly, the US Government has decided to hike H-1B visa fee from next fiscal. The US has hiked H1-B visa fees and this move could further impact profitability of Indian IT companies in the 2013 fiscal. The US Citizenship and Immigration Services (USCIS) today announced that application fee of H1-B visas will go up in the range of $325–2,000 from April 2012. This is applicable for companies employing 50 or more workers in the US and more than 50 per cent of this workforce is in H-1B or L-1 non-immigrant status.
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