US green-card programme suspension: What happens to your 401(k), stocks and property if you return India?

The Trump administration on Thursday suspended several technology giants and IT outsourcing companies, including Microsoft, Infosys, Cognizant, Tata, Wipro, HCL Technologies, Capgemini and Adobe, from the US government's permanent labour certification programme or PERM.

PERM is an important route through which employers sponsor eligible foreign workers for permanent residency in the United States. The suspension does not automatically revoke existing H-1b visas, but it could disrupt the green-card pathway for workers whose applications are affected.

“Legally, there is presently no prohibition on these companies employing foreign workers in the United States on otherwise valid H-1b visas. What has been suspended is the PERM process, which, for a large category of employees, is a crucial step in moving from temporary employment status towards permanent residency,” said Siddharth Batra, Advocate at the Supreme Court of India.

What does suspension mean for Indian techies?

Indian tech professionals on a H-1b visa could face disruptions in securing permanent residency through employer sponsorship, but the longer-term impact will depend on how long the suspensions remain in place and how the US government handles affected applications.

An H-1b visa allows foreign workers to stay in the US for up to six years, with an initial period of up to three years and an extension of up to another three years.