Innovator Visa:
The following changes have been set out in the UK Innovation Strategy:
- has potential to grow
- will stay innovative
- 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.
High Potential individual Visa
This visa aims to attract individuals with high potential who have graduated from top global universities. Graduates are allowed to move to the UK even if they do not have a job offer.
As always the case with new rules, there is currently no clear understanding on what qualifies as a top university or the exact meaning of ‘high potential’. What is however clearly evident is that a top university would mean a well-reputed government-approved institution. The graduate’s age, grades and type of qualification are likely to play a significant role in determining if he/she qualifies for the visa.
Scale-up Visa
Scale-up visa makes it easier for companies experiencing rapid growth to employ highly skilled labour from other parts of the world. Scale-up companies are able to use fast-track service to get employees to the UK.
Below are the requirements individual must meet to qualify:
- have a high-skilled job offer from a scale-up company
- get a minimum salary of £33,000
- meet the English Language requirement
Scale-up visa is part of the points-based immigration system but the applicant under scale-up visa route does not require an official sponsor as required for the skilled worker visa.
The following are the requirement for a business to qualify as a scale-up company:
- 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
Global Business Mobility Visa
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 also allow entrepreneurs to start and build their business in the UK without hassle.
Entrepreneurs are allowed the following under this visa:
- Carry out intra-company transfers
- Establish branches or subsidiaries
- Bring employees for short-term assignments in the UK
Contact DeeLegals for more information about the new visas!