Global talent visa reform
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UK needs radical talent visa reform: 20VC's Stebbings
Youtubeยท 2025-09-23 12:15
Group 1: Global Talent Visa Program - The UK needs to attract the best talent by simplifying the global talent visa application process, currently costing around 750 pounds [1][2] - Suggestions include making the visa application free and using AI to reduce processing time to 7 days [2] - Pre-authorizing individuals with existing H-1B visas in the US could incentivize them to relocate to the UK [2][3] Group 2: Tax Incentives - Proposing a 0% capital gains tax for those coming to the UK on the global talent visa to attract entrepreneurs [4][5] - The potential revenue from income tax generated by new businesses could outweigh the loss from waiving capital gains tax [5] - The current tax structure is seen as a barrier for talent, and reforming it could enhance the UK's appeal [16] Group 3: Economic and Political Context - There is a political divide regarding the perception of wealthy immigrants, with some viewing them as a burden rather than a benefit [6][7] - The argument is made that talented immigrants earning an average of $118,000 are not wealthy in the context of living costs in London [7][8] - The UK is in competition with other global cities like Dubai and Milan for talent, emphasizing the need for a favorable business environment [13][14] Group 4: Business Environment and Vibes - The overall atmosphere or "vibes" in the UK is considered crucial for attracting talent, with a need for a more positive narrative [12][13] - The UK must revitalize its image as an economic hub to compete effectively against other cities [14][15] - Suggestions for improving the business environment include updating outdated EMI schemes and ensuring transparency in the visa process [16][17]