The Tribune

THE latest in a series of decisions on immigration to the US was announced on Friday – a $100,000 fee on H-1B visas.

These visas have been around since 1990, and are used to bring in people with skills that are hard to find. In practice, this allows employers to hire workers who have specialised skills and a degree or the equivalent, and they last for three years, and can be renewed for a further three years.

And suddenly all those people – around 700,000 in the country – have questions about what is going to happen with their visas.

These are workers in the computer sector – about 60 percent of visas issued since 2012 – but also hospitals, banks, universities and more.

Previously there has been a fee – an application fee, of $215 plus some processing charges. Now the fee is $100,000. Needless to say, that’s going to put a hole in lots of business budgets.

The Commerce Secretary said the fee would be annual – totalling $600,000 over the maximum period. The White House said on Saturday it was a one-time fee, and won’t affect current visa holders.

The announcement has caused some considerable amount of chaos. The fee may not affect current holders – but it will certainly affect business planning.

But to quote the famous military strategist Sun-Tzu, in the midst of chaos, there is opportunity.

This new announcement may not affect current visa holders, but the demand for those skills is not going to go away – nor is the demand from those with the skills to seek opportunities.

So if the demand is there, and the applicants are there – is there a chance for The Bahamas to offer an offshore solution?

Think of all that skilled labour, coupled with investment from US companies who need those skills, and put it together with, say, Grand Bahama.

Keith A Roye II, of Plato Alpha, argues the case in today’s Tribune Business for opening the door to that talent – offering The Bahamas as a nearby place to relocate to or to set up offshore facilities.

“Absolutely 100 percent we should look at it,” said Mr Roye. “We can look at that to facilitate this whole technology hub scenario that we’ve been trying to grow here.”

He added: “We are obviously a ripe market for companies wanting to set up in The Bahamas. We have the great advantage of being close to the US while also allowing people to enjoy the lifestyle – sun, sand and sea – that The Bahamas has to offer. In the technology space, it’s very easy to work remotely.”

About three-quarters of applicants approved in 2023 were from India – with one recruiter in India’s Punjab state, Navneet Singh, warning: “Countries like France, Netherlands, Germany and Canada are set to gain from this move.”

The dean and vice provost at Cornell Tech, Greg Morrisett, said Cornell Tech has launched about 120 start-ups with the “vast majority” having students coming from overseas who will, he says, “pick up and move to Europe or Asia, wherever they can find”.

He added: “We saw this when, for example, you know, Ireland made it really attractive from a tax perspective. All of a sudden all the headquarters move to Ireland.”

If those countries can do it, why can’t we?

We are the same time zone as the East Coast, we have beautiful surroundings to work in and, with perhaps some of those extra funds thrown in to stabilise our power and internet services, we could be a near neighbour offering a home to those skilled people needed in the US.

As ever with some of these announcements that have been made, such as the ever-shifting tariffs, there is the chance that it will all be overturned.

But why not offer ourselves as a home for the talented anyway? It requires thinking of immigration differently ourselves – but it might just be an opportunity that could fire life into Grand Bahama for starters.