Britain used to be known as a nation of shopkeepers. Now it is a nation of startups. In 2015, a record 608,100 new companies were formed according to The Economist. Although Britain excels at starting companies, it seems we are not so skilled at scaling them up. Fewer than 4 percent of startups have ten or more employees after ten years of trading. This is not too bad compared with much of Europe, but well behind America, where firms are more likely either to soar or crash, rather than plodding along as many British enterprises do. Banks' lack of willingness to lend to SMEs is one reason why so many fail to expand, along with the difficulty of obtaining skilled workers. In his 2016 Autumn Statement, Chancellor Philip Hammond went some way to addressing the first problem, announcing he would give £400 million to venture capital funds specifically to invest in startups that want to scale up. But when it comes to providing desperately needed access to talent across all sectors, immigration is the only answer and a solution the current government has no interest in hearing. It is therefore up to employers, with the help of a good immigration solicitors, to think about not only how to acquire talent from abroad, but how to retain it. According to a report released by Oxford Economics, it costs an employer around £30,000 to replace an employee due to the lack of output whilst a new recruit is getting up to speed, including the overall cost of recruiting, training and absorbing a new team member. The message is clear, once you have a valuable employee, it is often in your best interests to keep them.
Since April 2016, most Tier 2 visa holders have been required to earn a minimum of £35,000 per year to successfully obtain ILR, after five years of working and residing in the UK. This requirement can take employers by surprise. Those who do not meet the new minimum income threshold will need to find some other way in which to stay in the UK or extend their Tier 2 visa by another year and then leave after a total of six years in the UK. The threshold will increase over time as illustrated below:
Former Prime Minister David Cameron, whose government brought in the new threshold, was committed to reducing immigration to the 'tens of thousands', something that is still yet to be achieved. This new requirement was predicted to reduce the number of Tier 2 visa holders and their families settling in the UK from around 60,000 to 20,000 per year. In a written statement to Parliament at the time the rule came into force, then Home Secretary, now Prime Minister, Theresa May stated, "Up to this point, settlement in the UK has been a virtually automatic consequence of five years' residency as a Tier 2 skilled worker. Those settling here are people often on lower wages and are lower-skilled, whereas higher earners and more skilled individuals are not settling."
The £35,000 earning requirement will not apply to roles on the shortage occupation list and to scientists and researchers in PhD level jobs.
It is advisable that employers who are recruiting talent from outside the EEA take pro-active steps to ensure that when a Tier 2 visa holder's right to apply for ILR transpires, they are earning the required income needed to ensure they can remain in the UK on a permanent basis. Failure to do so may result in the loss of a talented, highly-experienced employee, which could result in loss of productivity and a significant outlay of capital to replace them. By taking a strategic approach to recruiting talent from outside the EEA (and perhaps within the EEA after Article 50 is triggered) businesses can avoid the high financial and social cost of a highly-skilled migrant being forced to leave the country simply because they were not being paid enough.
The team at Reiss Edwards consists of some of London's leading immigration lawyers. If you require expert legal advice on obtaining a UK Sponsor Licence or a Tier 2 (General) Visa, please call us on 020 3744 2797.
It's a shame that you dont have an 'Excellent' star rating on here, as my experience with Reiss Edwards is nothing short of an excellent rating. They handled my application for an Indefinite Leave to remain in April 2014 and did my husband's one very recently including my daughter. Every time i have approached them, they have continued to treat me with courtesy, respect and patience. Amar was indeed a very thorough and professional gentleman. He is very knowledgeable, corporative and engaging. He responded to my emails, calls and enquiries promptly. He was always reassuring. I could not have asked for a better Immigration service. I would recommend them over and over again for anyone looking for an immigration advice. They gave me a free immigration advice when i called them, and the quality of the advice was something other charge thousands for. If you need a particular, name, Amar would be it. He exemplifies, for me, the true, professional gentleman. He is a valuable asset to Reiss Edwards.
I am glad that i instructed Reiss Edwards on my visa matter. It started with a 20 minutes free immigration advice. I met with Amar to discuss my ILR refusal. He gave me a great deal of quality advice and decided to take on my messy case. I had doubts on the merits of my case by he was relatively convinced he could win it. That made me quite secure. To be honest, things did not start as quick as I would have wanted, but they kept on communicating the process and state of things to me.A big thank you to Verusha and Foram. They were also very helpful. Brilliant and informative. Their fee was fair and reasonable, especially if you compare them to other law firms and immigration law firms in London; some of whom even told me that i would not be able to get an indefinte leave to remain in this country. The process was long but was worth it. In the end, a big thank you to Reiss Edwards.
Investing over 2 million pounds is defintely not a routine decision. We had to make sure that the Tier 1 investor immigration lawyers that we'd be picking has to be one of the best within the Tier 1 investor category. We contacted Reiss Edwards and they were able to get us not only the Tier 1 investor visa but also suggested profitable investment portfolios in addition to what we already had in mind.
TI have just had British Citizenship application approved. Prior to making the application, i was not sure which law firm i should hire to facilitate the paperwork. After a few hours of research, i decided to go with Reiss Edwards and i must confess that i wasnt disappointed. The immigration lawyers at Reiss Edwards handled my case well and they really knew what they were doing. They were fully aware of what documents I needed and it was easy for them to tell if my case was going to be easy or not. At the end of the day, I have not received my British citizenship within 3 months. If anyone is looking for a good immigration lawyer to handle thier case, contact Reiss Edwards.
My wife's spouse visa extension application was refused by the Home Office and they gave her 14 days to leave the country. We contacted Reiss Edwards and they said "OK don't worry we will sort this out". They put together the list of documents for me to obtain and they prepared a bundle which was as thick as the printer it came out from.We followed everything they asked us to do and in the end we won our appeal and got our spouse visa. We can't recommend them enough and we have promised ourselves never to make any more UK visa applications without them.
The team of lawyers at Reiss Edwards are very professional and friendly people. Their experience in and around UK immigration law is quite extensive; be sure that you application is in safe and competent hands. My immigration matter was an indefinite leave to remain application based on Tier 1 on a self-employment basis. The immigration lawyers at Reiss Edwards made sure that the application was perfect and ready to be accepted. I got a positive decision and I recommend them highly for anyone who needs a UK immigration help.
I contacted Reiss Edwards to help me with my wife's UK settlement visa. They acted with utmost professionalism throughout the entire application. I spoke with Joe Dinh, he is an immigration solicitor and he is one of the best solicitors out there. He ensured that there was little to no room for error. At some point I thought he was over cautious. He remained calmed and continued to assure us on our immigration matter. Most people in his position would have panicked but he was calmed and continued to assure us. We received out positive outcome very quickly.
I have been using Reiss Edwards for three years now for my family's immigration application. Both for my initial application and extension. They are really affordable. The team of solicitors at this firm are probably one of the most efficient and economical in terms of cost. They offered free advice over the phone and spent good time with us before inviting us for consultation.
Reiss Edwards is a top notch immigration service company. The way they handled our documentation and also the list of documents they sent was efficient and top quality. They helped us professionally throughout the process. We are very happy with the immigration advice we received from the team. We highly recommend them.
I used Reiss Edwards immigration lawyers to assist with my immigration matter and that of my family. It was an EX1 application. They dealt with the matter properly and even when complications were coming up from the Home Office, they helped resolve the issue properly. They are very professional and are very popular in London. I am happy to have worked with them.
This is the only firm that i spoke with that didn't ask for money before listening to me, will be using them again.
I used Reiss Edwards for my Tier 2 visa application and it was successful. The team was ever present and happy to answer my question. The caseworker that dealing with my case went on holiday yet by case did not suffer one bit. Another lawyer stepped and took over the case without any hassle.
My Tier 1 Investor Visa was dealt with quickly and without issue. Would recommend Reiss Edwards as an Immigration law firm in London. Thank you to the team.
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