What are the Global Talent Visa benefits?
Today, the UK has one of the world's most attractive environments for tech professionals and entrepreneurs. Indeed, if living and working in London is your childish dream, now it’s a perfect moment to relocate, as the country offers a wealth of advantages for your career, lifestyle, and personal growth.
Pro-Business Regulation
The UK’s regulatory environment deeply supports entrepreneurship, innovation, and growth. It offers a streamlined process for company formation. Compared to Germany, for example, where the GmbH formation process involves more bureaucracy and higher capital requirements, the UK's approach is much more seamless and straightforward.
Employment Laws
UK employment laws strike a balance between protecting workers and providing businesses with operational flexibility. In France and Germany the hiring (and especially firing) process is way more complex and time-consuming than in the UK. This includes longer notice periods, severance pay, and consultation requirements with workers' councils. And while some European countries may offer additional employment security, the UK has a much more dynamic job market.
Tax System
The UK has one of the lowest corporate tax rates in the G20 countries, improving companies' profitability. Moreover, the UK government offers generous R&D tax relief schemes for companies investing in innovation. SMEs can return up to 33% for every ￡1 spent on R&D activities, while larger companies can claim a special credit worth up to 13% of their R&D costs.
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As for individuals, ￡12,570 of annual profit is not taxed, which is much higher than in Europe: €9,984 (about ￡8,600) in Germany, and €10,225 (￡8,800) in France. Moreover, UK’s non-domiciled residents are only taxed on the income they bring into the country. These are large tax savings compared to other G20 countries where residents are taxed on their worldwide income.
Supportive Ecosystem for Businesses
On top of that, The UK provides a variety of funding sources for businesses, from venture capital and angel investors to government grants and loan schemes. Lots of innovation hubs, and accelerators across the country are designed to support startups and innovative projects. At the forefront are Innovate UK Grants, Balderton Capital, CodeBase, and UK Business Angels Association.
The Global Talent Visa is access to the very essence of the UK’s benefits. Unlike many other visas, this one does not require a job offer before moving to the country. With GTV, you can change your job without the need to inform the Home Office or apply for a new visa. GTV gives all the opportunities to set up or run a business in the UK, making it an excellent choice for entrepreneurs to start new ventures or bring an existing business to the country. Ultimately, as a visa holder, you become a part of the thought leaders community, which brings value to every aspect of your professional path.
Embrace these opportunities, start your UK journey, and boost your career and life with us! Check our webpage to discover your step-by-step relocation path!