Immigration cap changes: you'll still struggle to get into the UK if you're from outside the EU

The UK's immigration caps have been causing issues for banks.

As we have observed, since July it's been a lot harder for banks in the UK to employ people on Tier 2 General Visas.

This is because the number of Tier 2 General Visas that can be issued by each institution has been capped at the level of last year, when banks didn't issue many of them. Moreover, when banks have attempted to apply for additional certificates of sponsorship for additional Tier 2 Visas, their applications have been denied.

Banks have been lobbying hard, both about this and about immigration caps in general. Today, there are two signs that their lobbying is bearing fruit.

Sign one: Priority for anyone earning more than 40k

The first good sign is that, henceforth, people earning more than 40k will be given priority when the government's assigning the additional certificates of sponsorship related to Tier 2 Visas.

Given that most people working in financial services earn >40k, this sounds like a good thing. Julia Onslow Cole, head of PWC Legal's global immigration practice, certainly makes it sound like one. She told the Telegraph that employers are now getting, "absolute reassurance" that applications from people earning more than 40k will go through.

Financial services professionals who want to work in the UK under a Tier 2 visa (ie anyone who doesn't meet the increasingly strict requirements for a Tier 1 visa) should therefore be excited.

However, they shouldn't be too excited. Another senior immigration lawyer told us the change won't make any difference at all. Priority is apparently being given to existing staff already working in the UK under Tier 2 visas. New recruits still won't be able to get in.

Tony Haque, a business immigration lawyer at Baker McKenzie confirms this: "For existing employees it's going to be easier to get a renewal, but it won't make much difference for new employees," he sighs.

Sign two: Rumours that anyone will be able to transfer internally into the UK for less than two years

The second good omen for would-be non-EU migrants is in the Financial Times today.

The FT claims that the government is contemplating exempting 'intracompany transfers' from the new immigration cap to be imposed from next April. The parliamentary home affairs committee has apparently requested that all transfers where people come to work in the UK for less than two years should be allowed.

While this is also reason for excitement, it is not yet a done deal. Haque says there should be finality by the end of this month when various government bodies are due to publish both the level of immigration caps for next year and the manner in which they'll be implemented,

For the moment, banks heads of recruitment say there's no change. "I have heard absolutely nothing about these developments," confesses one, sadly.