UK will refund visa fees to attract ‘trailblazer’ investment

LONDON

The U.K. government will reimburse certain visa fees and create fast-track processing for select international companies in a bid to attract highly skilled global talent and investment, said the country’s Treasury chief.

Chancellor of the Exchequer Rachel Reeves, who arrived at the annual World Economic Forum in Davos on Jan. 20 said the measures aim to position Britain as a hub for stability, talent, and capital.

“In a volatile world Britain stands out. This government is making sure Britain is home to the stability, talent, and capital that businesses and investors want and that drive greater growth," she said in a statement.

The government plans to reimburse visa fees for “select trailblazers in deep tech sectors and those joining the most promising U.K. companies in priority sectors.”

Global firms expanding in the U.K. will also benefit from a new fast-track offer for sponsor licenses, intended to speed up their growth and investment footprint.

She added that the U.K. would continue to focus on attracting global talent in key industries, including artificial intelligence, life sciences, and clean energy.

The move forms part of a broader effort to replace what the government describes as a “broken immigration system built on cheap overseas labor” with one aimed at welcoming “the world’s brightest and best.”