EU entrepreneurs snub UK tech visas –

The visa lasts for five years and is not tied to a particular company, allowing workers to move jobs or set up their own business. It has fielded around 4,000 applications in the last seven years, with numbers rising in recent years after rules around the visa were relaxed.

Tech Nation said the most applications in the first eight months of 2021 had come from India, Nigeria, Russia and the US.

Applications from the EU are likely to have been depressed by the existence of some alternative programmes, such as the settlement scheme that allowed those already living in the UK to apply for residency.

The pandemic is also likely to have affected applications, although Tech Nation said 35pc of all applications since 2014 had been received in the last 12 months.

Rishi Sunak announced this year that the Government would overhaul the visa system for entrepreneurs that have received funding from “recognised sources” and a new “scale up visa” making it easier for fast-growing companies to hire from abroad.

Expanding the tech visa system to address demand for skilled workers in Britain was a key recommendation in a review of Britain’s financial technology sector led by the former WorldPay boss Ron Kalifa.

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