The UK government has announced three different visas that will be introduced for entrepreneurs, skilled workers, and students.
They are reported to aim to attract fast-growing companies recruit staff from other countries, attract graduates from top colleges around the world, and chase international entrepreneurs and digital start-up founders.
These “most attractive” visa systems in the world for high-skilled workers and entrepreneurs are reported to strive to boost productivity and economic growth in the UK.
Thanks to these upcoming visas, UK-based employers, as well as international businesspeople interested in exploring options for working in the UK without having to rely on a UK-based employer, are said to have more alternatives with this visa. They will also address the reduced number of entrepreneurs and investors.
We will see the introduction and applications for the following visas in the next months:
- Scale-Up Visa
The Scale-up visa aims to make hiring the best-skilled workers from all around the world easier and faster for businesses with rapid growth.
For this route:
A person must have a high-skilled employment offer from a scale-up business with a salary of at least £33,000 and be able to communicate in English.
Scale-ups will be able to apply for a fast-track verification process to use the route.
What is a Scale-up business?
A company must have a yearly average revenue or employment growth rate of moreover 20% during a three-year period and a minimum of 10 employees at the start of the 3-year period.
- High Potential Individual Visa
This visa will be for high-potential graduates from leading colleges throughout the world. The terms ‘top global university‘ and ‘high potential graduates’ are not clearly defined yet, but they are expected to be limited by a list of government-approved institutions, as well as attributes including age, salary, and postgraduate qualifications.
With this route:
Graduates can move to the UK without a job offer.
Graduates can have a settlement in the UK – requirements are not introduced yet.
- Innovator Visa
A new visa for innovators is also proposed for 2022, with the goal of enabling foreign investors and entrepreneurs to launch and operate venture-backed or innovative technology-based enterprises in the UK.
This visa is told to be more flexible – there will no longer be a requirement for applicants to have a minimum of £50,000 in investment capital, as long as they have adequate finances to build their firm. On this route, applicants will be able to work outside of their main business.
The business eligibility requirements will be more straightforward; applicants must show that their company has the capacity to develop, create value for the UK, and remain innovative.
There will be an option to expedite submissions for those with promising business concepts.
As Hawflein Solutions, we will inform you again and in more detail when these visas and conditions come into effect.