UK opens the gate to skilled migrants

Under the UK government's new Highly Skilled Migrant Programme, some are being allowed to stay in the country while looking for a new job.

Law firms report a high rate of success at getting individuals on to the programme, which was introduced six months ago. At CMS Cameron McKenna, all 40 applicants for a place have been successful; 30 were former investment bankers.

Julia Onslow-Cole, a partner in the firm's immigration practice, says people with an investment banking background are ideally suited to the scheme. "A lot of the people just made redundant from banks will qualify," she says.

Since the introduction of the migrant programme, there have been 950 applicants in total, of which 338 have been approved. The programme aims to attract more skilled foreign nationals to the UK.

Approval is easy to obtain for many bankers. It depends on achieving 75 points in a scoring system that considers earnings, work experience and academic qualification.

Individuals must have a first degree and must have earned more than 40,000 in the past year, or sometimes less if they are applying from a poor country. Five years' work experience, an MBA or further degree, and employment at senior level, all boost the score.

Onslow-Cole says many of the successful applicants are Americans and Singaporeans. "The bulk want to stay in the UK so that they can find jobs working in private equity."