Trump Orders $100,000 Fee for H-1B Visas, Creates $1 Million "Gold Card" Residency Program

Strategic Insights -

The Trump administration has announced a major overhaul of the H-1B visa program, which allows companies to sponsor foreign workers with specialized skills to work in the United States. As part of the changes, an annual $100,000 fee will be added to H-1B skilled worker visas, potentially creating major repercussions for the tech industry, where such permits are prolific. The new measure was announced alongside the introduction of a $1 million "gold card" residency program, which will offer expedited pathways to US residency for individuals who pay $1 million or for corporate sponsors to pay $2 million.

Key Takeaways:

  • The Trump administration has introduced an annual $100,000 fee for H-1B skilled worker visas, which could potentially affect the tech industry.
  • The new fee will be required for those seeking to enter the country beginning Sunday, with the Homeland Security secretary able to exempt individuals, entire companies, or entire industries.
  • The order expires in a year, though Trump can extend it, and the number of H-1B visa applications has risen sharply in recent years, with a peak in approvals in 2022.
  • Approximately 400,000 H-1B visas were approved in 2024, two-thirds of which were renewals.
  • The Trump administration has also created a new expedited pathway to US residency, known as the "gold card" residency program, which will offer residency to individuals who pay $1 million or for corporate sponsors to pay $2 million.
  • The program is expected to have significant implications for South Korean companies, which have been affected by US immigration raids.
  • The order has been met with criticism from tech entrepreneurs, including Trump's former ally Elon Musk, who have warned against targeting H-1B visas, saying that the United States does not have enough homegrown talent to fill important tech sector job vacancies.

Statistics:

  • 85,000 H-1B visas are awarded per year on a lottery system.
  • India accounts for around three-quarters of the recipients of H-1B visas.
  • Approximately 400,000 H-1B visas were approved in 2024, two-thirds of which were renewals.
  • The peak in approvals of H-1B visas was recorded in 2022, under Democratic president Joe Biden.
  • The peak in rejections was recorded in 2018, during Trump's first term in the White House.

Sources:

  • "Trump orders $100,000 fee for H-1B visas, creating potentially major repercussions for tech industry" (The Hill).
  • "Trump creates $1 million 'gold card' residency program for US visa applicants" (CNBC).
  • "US approves 400,000 H-1B visas in 2024, two-thirds of which were renewals" (The Washington Post).
  • "Trump's immigration crackdown continues with new order targeting H-1B visas" (Politico).
  • "South Korea's foreign ministry to assess impact of US immigration measures" (Yonhap News Agency).