New Delhi: Bank advises caution for visa holders
Goldman Sachs, the world’s largest investment bank, has issued guidance to its H-1B visa employees following recent changes in U.S. immigration policy. The bank warned that this is an “uncertain time” for employees and their families.
Advisory for visa holders
The bank recommended H-1B employees to exercise caution with international travel and stay in close contact with its designated immigration law firm, Fragomen, for legal guidance. Goldman Sachs is assessing the new policy’s impact and will provide updates as they become available.
Context of the new policy
The U.S. administration has introduced a $100,000 annual fee for companies sponsoring H-1B visas. This move has created significant uncertainty for foreign workers, especially those from India. Other major firms, including JPMorgan, Amazon, Google, and Microsoft, have also issued advisories urging H-1B and H-4 visa holders to remain in or return to the U.S. promptly.
Implications
The policy could affect companies heavily reliant on skilled foreign workers. Goldman Sachs emphasized its commitment to supporting employees through this period and ensuring they receive timely guidance.
Conclusion
As H-1B visa rules evolve, multinational firms are taking proactive steps to assist employees and mitigate risks, highlighting the challenges faced by foreign talent in the U.S.