HSBC says increase in US H-1B visa costs Is manageable'

"Various HSBC units in the US received H1-B visas for 54 employees in the fiscal year 2025, according to the USCIS website. That compares to 2,440 at JPMorgan Chase & Co., the finance firm with the biggest cohort in the dataset. The Trump administration has raised the application fee for H-1B visas to $100,000 as part of efforts to protect American jobs and strengthen national security."

"The move has sparked chaos and alarm among some global companies, especially in the technology sector, which rely on the H-1B visa program to bring skilled workers to the US from abroad. Finance companies and consulting firms also use the facility. Investor Cathie Wood said on Monday she was surprised by the change and expects other countries will benefit in the short term. Other countries should be looking at this as an opportunity to attract the best and the brightest, Wood said on Bloomberg Radio."

The increase in US H-1B visa fees is manageable for HSBC because the bank employs relatively few visa holders in the United States. USCIS data show various HSBC units received 54 H-1B visas in fiscal 2025 compared with 2,440 at JPMorgan Chase, the largest cohort in the dataset. The Trump administration raised the application fee for H-1B visas to $100,000 to protect American jobs and strengthen national security. The change sparked alarm among global companies, especially technology firms that rely on H-1B visas, as well as finance and consulting firms. Investor Cathie Wood said she was surprised, predicted short-term benefits for other countries and urged them to seize the opportunity. Initial uncertainty prompted frantic responses over the weekend before a White House official clarified the fee applies only to new visas.

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