tying the individual and their work, to their employer,” he says. “For those individuals wanting
the freedom to explore multiple opportunities and set up their own business(es), there are a number of options available, however the eligibility requirements and application processes, can be complex. “The planned
introduction
of new visa schemes, such as the High Potential Individual and Scale-up visa schemes could benefit tech migrants looking for alternative ways to work and establish themselves in the UK,” he says. These routes will build on the Student and Graduate visa options already in place in the UK. He says there is global competition for the strongest tech talent, with numerous national governments utilising
their
immigration systems to attract the best candidates into their respective countries. There are a number of other countries offering tech and STEM migrants the opportunity to move to and work in their specific fields of expertise, although a number of these require the investing of funds into the country as part of the application process:
• The US E-2 Treaty Investor visa for example allows certain nationals to be admitted to the United States when investing a substantial amount of capital in a U.S. business. It permits work for foreign nationals investing or in the process of investing in the United States for up to five years.
• Under the Spanish Entrepreneur visa scheme, applicants must demonstrate that the planned activities are of special interest and/or bring added value to the Spanish economy.
• There are similar schemes available in a host of other countries including Singapore, Australia, Canada etc.
“With the race between companies and countries and companies to secure the best tech talent across the globe, we will likely see the continued use and streamlining of visa categories such as these,” he says. FinTech and telecoms companies, particularly in London, are likely to be the beneficiaries of these open and welcoming markets over the coming years.
Students at Taunton School look at their IB results
7
“ The UK is the leading country for fintech in the EU. The UK is a huge consumer of lending, investment and real estate. Because the British have the most cash and highest borrowing, the industry that serves this ecosystem has to be the most developed. The UK is also more likely to try something new and innovative as compared to other more conservative countries in Europe.” PHILIPP BUSCHMANN, AAZZUR
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