The UK is currently battling an exodus of tech& fintech companies, as the current immigration system does not necessarily favour attracting and retaining talent. The newly released Visa Scale Up is intended for British companies that need to recruit these treasures internationally in order to accelerate their scalability.
Issued for 2 years, renewable as many times as necessary, the Scale Up Visa is intended for any highly qualified person (scientists, researchers, engineers, IT specialist, economists, financiers, …) who can prove his qualifications, his experience and the fact that they are adapted to the position offered by the company.
A minimum wage of £33K, passing an English test and having access to £1270 min/month is also required.
The Scale Up Visa, which is obtained via an initial sponsorship of 6 months, will remain valid without sponsorship beyond the 6 months. It can be renewed on the spot and will allow access to a permanent title after 5 years on British soil.
The applicant’s family can also be included in the application, and this visa also allows self-employment – subject to working for 6 months for the original sponsor.
In order to be able to sponsor a Scale Up Visa application, the company must prove to have over the last three years 1/ produced an annual growth of at least 20% (based on turnover) 2/ hired at least 10 people.
Faster, less cumbersome in terms of documents, the Scale Up Visa should be a winning combination for talents as well as for companies – the latter will however have to keep in mind that the talent really only “belongs” to them for 6 months.
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