The UK’s top high-growth businesses will have greater flexibility
and power to entice the world’s top talent through the new
Scale-up visa, the
government announced today (22 August).
UK businesses experiencing impressive success will be eligible to
sponsor talented individuals, from scientists and engineers to
architects and programmers, to support their growth and
contribute to boosting the UK’s economy.
Unlike other sponsored visas, the Scale-up visa allows businesses
to employ high-skilled individuals who will receive 2 years’
leave to remain in the UK without requiring further sponsorship
or permission beyond the first 6 months.
This will further enhance the government’s overall offer to
businesses through the points-based immigration system to hire
eligible employees from anywhere in the world. The Scale-up visa
will give them greater flexibility to hire, often in-demand,
talent they need so they can go to the next level, while boosting
the UK’s high-skilled pool.
Minister for Safe and Legal Migration said:
Rapidly growing businesses, like small enterprises, tech and
financial services, need the right level of support to go to the
next level. Through our Scale-up visa, we’re enabling businesses
to focus on their growth and innovation by giving them more
freedom to bring in the diverse skills and experience they need,
making them more attractive on an international stage.
By supporting our high-growth tech, financial services and small
businesses, we are ensuring the UK remains a global hub for
emerging technologies and innovation while enhancing productivity
across the economy – creating jobs, growth and prosperity across
Britain.
Irene Graham OBE, CEO of the ScaleUp Institute said:
The ScaleUp Institute welcomes the launch of the Scale-up visa.
This is something we have recommended since our inception and
should provide a much-needed fast track service to enable local
growth companies to access the talent they need more quickly.
Scaleups add over £1 trillion a year and more than 3 million jobs
to the UK economy, and are present in every community, hiring
people from at home and abroad, as they drive growth into their
local areas and beyond.
The visa should help with the skills demands. We look forward to
continuing to work with the government as this service evolves to
ensure it fully addresses scaling business needs and works
effectively.
Scaling up is an important phase for high-growth businesses to
continue growing and drive their international competitiveness.
By bringing in sought-after expertise and skills, enterprises can
boost their innovation and productivity and in turn keep
contributing to the UK’s economy.
Companies, including small businesses and those in the tech and
financial services sectors, that have achieved growth of 20% or
more in either employment or turnover year-on-year for at least 3
years and employed a minimum of 10 people at the start of the 3
years will be eligible to sponsor talented individuals through
the Scale-up visa.
Eligible businesses will be able to attract highly skilled talent
including:
- scientists
- engineers
- programmers
- software developers
- research and development professionals
- economists
- architects
- technicians
- financial and investment advisers
