With the Autumn Budget 2021, the government of UK has made it clear that they want to modernize the immigration system with the aim of bringing highly skilled talent to the country. Here, in this article, we discuss the new visas introduced in the budget.
The primary goal of the scale-up visa is to make it easier for companies experiencing rapid growth to hire highly skilled labour from other parts of the world. Scale-up companies can use the fast-track service to get employees to the UK.
To qualify for the visa, the individual must
- Have a high-skilled job offer from a scale-up company
- Get a minimum salary of £33,000
- Meet the English Language requirement
Like the skilled worker visa, the scale-up visa is also part of the points-based immigration system. However, the applicant for a scale-up visa does not require an official sponsor whereas an applicant for the skilled worker visa requires an official sponsor.
Note: A business qualifies as a scale-up company if
- It has experienced 20% growth in average annual revenue or employment in a 3-year period and
- It had at least 10 employees at the beginning of that 3-year period
High Potential individual Visa
The aim of this visa is to attract individuals with high potential who have graduated from top global universities. The visa allows graduates to move to the UK even if they do not have a job offer.
At the moment, we do not have complete clarity on what qualifies as a top university or what ‘high potential’ exactly means. However, it is quite evident that a top university would mean a well-reputed government-approved institution. The graduate’s age, grades and type of qualification may play a significant role in determining if he qualifies for the visa.
Global Business Mobility Visa
Simply put, the Global Business Mobility Visa will make it easier for innovative businesses to transfer employees from other parts of the world to the UK. It will allow entrepreneurs to start and build their business in the UK with ease.
With this visa, entrepreneurs can easily
- Carry out intra-company transfers
- Establish branches or subsidiaries
- Bring employees for short-term assignments in the UK
Revised Innovator Visa:
Qualifying for the innovator visa has become a lot simpler. Now, you are only required to show that your business
- Has potential to grow
- Will stay innovative and
- Will benefit the UK.
You no longer need to have a minimum investment fund of £50,000. You only need to prove that you have sufficient funds for the business.
If you qualify for the innovator visa, you can now work for another company in the UK along with handling your business.
If your business idea is very innovative, you may even become eligible for the fast-track service, contact us to know more about the application process.