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Companies increasing sponsorship of Green cards, Good News ?

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[B]Indian software companies could step up sponsorship of coveted US green cards for staff as part of tactics to mitigate the effects of a planned US law to make work visas harder and costlier to obtain.

By doing so they can expand the pool of employees with access to work in the United States, analysts said, giving Indian companies greater leeway as they try and cope with the effects of a planned law with restrictive visa provisions.
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The reason companies are planning to increase green-card sponsorships is linked to rules which govern the way visa allocation is counted in a bill passed by the US Senate some weeks ago. The Senate bill imposes caps on the number of work visas companies can seek every year, a limit which depends on the number of H-1B visas for specialty occupations a company already has.

Since the bill excludes 'intending immigrants' who have applied for green cards while counting the number of work visas a company owns, Indian firms are seeing great merit in the idea of sponsoring visa-holders for green cards.

"We are already ramping up hiring of workers in the US and will start offering more green card sponsorships to our employees," said PR Chandrasekhar, CEO of Hexaware Technologies, which is based in Mumbai. "With these steps we think any impact of the rules on us would be very limited." The US restricts the number of H-1B visas to 65,000 every year. The Senate bill will raise that to 1.15 lakh.

However, it mandates higher fees for additional visa applications from companies where over 50% of US staff are already on a temporary work visa. Such companies will also be prevented from placing their staff at client locations in what is known in industry parlance as outplacement. This will make it harder for IT firms which depend on such a model in the US, from where they get nearly 60% of their revenue.

http://www.DesiOPT.com is sharing the latest developments, This bill is not yet law hence all current rules remain in effect.

[B]Source: http://bit.ly/14GQEaQ[/B][/B]
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