The United States of America recently declared that starting of April 1, 2024, there will be a major hike in fees for a number of non-immigrant visa categories. Among these categories, H-1B, L-1, and EB-5 visas, which are highly sought-after by Indians, will see substantial fee hikes, marking the first adjustments since 2016.

H-1B and EB-5 Visas: Vital Options for Indian Applicants

Technology companies that hire thousands of workers from China and India each year depend heavily on the H-1B visa, which American employers use to hire foreign nationals in specialised jobs. 

Similarly, the 1990-introduced EB-5 programme permits wealthy foreign investors to get U.S. visas by contributing a minimum of USD 500,000 to American companies, thereby generating employment for Americans.

Applying for an H-1B visa (Form I-129) will cost USD 780 starting on April 1, an almost seventy per cent increase from USD 460. Furthermore, starting next year, the cost of registering for an H-1B will increase from USD 10 to USD 215.

Fee Adjustments for L-1 and EB-5 Visas

The cost of the L-1 visa, which allows multinational corporations to temporarily relocate some employees from overseas headquarters to the United States, would increase by an astounding 200 percent from USD 460 to USD 1,385. Similarly, there will be a 200 percent increase in fees for EB-5 visas, popularly known as "investor visas," which will soar from USD 3,675 to USD 11,160.

Over ten years (FY 2024 through FY 2033), the Department of Homeland Security (DHS) projects annualised net costs to the public of USD 157,005,952, discounted at 3 and 7 percent. 

According to the DHS, these changes will have the following advantages: fewer administrative responsibilities and errors in fee processing; enhanced adjudicative process efficiency; and a more precise evaluation of service costs for more appropriately matched fees in subsequent regulations.

Additionally, the removal of the USD 30 returned cheque cost, improved adjudicative process speed, streamlined fee payment procedures for specific forms, and decreased fee processing errors for petitioners/applicants are all advantages. Furthermore, a few categories' small visa application fee reductions have been included in the federal notification.

Individuals and companies depending on these visa categories should get ready for the financial fallout from these fee increases as the deadline draws near. These increases will affect several facets of the immigration process to the United States.

Conclusion

The impending increases in fees for H-1B, EB-5, and other U.S. visa categories, which take effect on April 1, 2024, portend major alterations for businesses, applicants, and immigration procedures. To navigate the changing environment of U.S. immigration regulations and procedures, stakeholders must have a thorough awareness of the consequences and potential obstacles as they get ready for these alterations.

FAQS

What are the expected benefits for the U.S. government from these fee adjustments?

Benefits including lower administrative costs, fewer errors in processing fees, and more adjudicative process efficiency are anticipated by the U.S. government, and these could simplify the immigration system.

Will these fee hikes result in any changes to the processing times for visas?

Increased resources may be devoted to visa processing as a result of the fee hikes, but longer processing delays may also occur as immigration authorities react to the new policies and handle the heightened demand.