New scale-up visa to attract international talent
As part of his Autumn Budget the finance minister, Rishi Sunak, has announced that the government plans to launch a new scale-up visa. The new visa aims to encourage more skilled workers to move to the UK.
The scale-up visa will be for highly skilled workers who have a job offer from an eligible UK business that pays a minimum salary of £33,000. Successful applicants will be able to switch jobs whilst in the UK and can extend the visa up to a maximum stay of 5 years, after which they could be eligible for Indefinite Leave to Remain.
The new visa is set to launch in spring 2022.
Quicker and easier access to highly skilled workers
The scale-up visa will make accessing highly skilled workers quicker and easier for successful companies in the UK.
“Scale-up” businesses will be able to hire international workers quickly through this route. A scale-up business has been defined by the government as a company with at least 10 employees and a growth rate of over 20% for either annual average revenue or employment over a three-year period.
Speaking about the new visa, Sunak said:
“A third of our science Nobel Laureates have been immigrants. Half of our fastest-growing companies have a foreign-born founder. So, an economy built on innovation must be open and attractive to the best and brightest minds.”
Tackling skilled labour shortages
The UK is currently facing a shortage of skilled workers as a result of Brexit and Covid-19, particularly in the tech and science industries. A report from September found that the number of tech roles being advertised in the UK is currently 42% higher than in 2019.
The scale-up visa will help to tackle some of these shortages but the government is also expected to make further changes to the immigration system with the introduction of a High Potential Individual and Global Business Mobility Visa. The government also announced that they would be reforming the Global Talent Route, which has yet to see much success. The Chancellor of the Exchequer said:
“The Trade secretary’s new Global Talent Network, launching initially in the Bay Area, Boston and Bangalore will identify, attract and relocate the best global talent in key science and tech sectors. All part of our plan to make the UK visa system for international talent the most competitive in the world.”
How can IAS help?
Are you looking to relocate to the UK for work? Or perhaps you’re a business interested in hiring overseas workers? Our lawyers are highly trained in all areas of UK immigration law and are here to help you.
We offer assistance with all UK visa applications, including Skilled Worker Visas and Temporary Worker Visas. Our lawyers can assess whether you are eligible for a UK work visa and will support you throughout the application process.
We also offer corporate immigration services for businesses looking to hire international talent. Whether you need help applying for a Sponsor Licence or want to know more about the duties a sponsor company must carry out, we are here to help.
For more information about our immigration services, get in touch today on 0333 920 5264.
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