As a result of the United Kingdom (“UK”) exiting the European Union (“EU”) on 1 January 2021, a number of financial institutions in the UK lost their “exclusive” right of access to utilize the European Economic Area (“EEA”) passporting rules. These changes have also been felt by financial institutions based in Gibraltar.
Back in 2016, it was reported around 5,500 UK companies with licensed activities which have passported their authorization (i.e., a licensed activity) into the EEA are impacted as a result of the UK exiting the EEA bloc.
While the UK certainly has a more favorable corporate tax regime when compared to the other Member States, wider access to a larger marketplace seems to be the more favorable option in the long run for most companies. It is also without a word of doubt, the UK’s focus on retaining its presence as a financial services leader is ever strong, for example, the recent relaxation of some of the eligibility requirements for companies seeking to IPO.3
Following the recent memorandum of understanding agreed between the EU-UK, concerning financial services cooperation, no visible guarantee was given to hold UK rules as equivalent to EU rules.4 While this mist of uncertainty hovers above the UK financial services industry, institutions are gearing up for plans B and C.
Seeking the necessary permissions and compliance via each individual Member State’s national regimes adds complexity and substantial costs for FinTech companies based in the UK. This is something that all FinTech companies would ideally like to avoid or circumvent.
WATCH OUR WEBINAR ON DOING BUSINESS IN A POST-BREXIT EUROPE.
In the last couple of years, the Baltic states (i.e., Latvia, Lithuania, and Estonia) have geared up and responded by implementing favorable regulatory frameworks for all FinTech institutions. With this FinTech focus and benefits stemming from the passporting rules, the Baltic states are slowly driving the industry and attracting all the major market players, including Revolut.
In this series of articles, we outline the important practical considerations one needs to consider for each of the Baltic states; their regulatory advancements, licensing benefits, stock options, capital markets, and alternative financing mechanisms. These tools provide a beneficial and attractive environment for financial service institutions to either start out in life or continue growing their business.
LATVIA
In terms of numbers, one in five new Latvian startups belong to the Financial Technology sector.15
The Latvian Financial and Capital Market Commission (“FCMC”) has made available the Innovation Hub and Regulatory Sandbox to any market player for professional support and consultancy services in relation to existing and upcoming regulation.16
A good example of highlighting the FCMC’s readiness and competence to supervise the financial services industry is in relation to the upcoming EU crowdfunding rules. The European Parliament has recently adopted the Regulation on European Crowdfunding Service Providers (“ECSP”) for businesses.17 The ECSP is already in force and is applicable from 10 November 2021. The ECSP is binding in its entirety across the EU and will provide a new and comprehensive set-up for crowdfunding platforms to operate under. In Latvia, the FCMC has already begun working and consulting with companies establishing or established to correspond with the upcoming rules in the ECSP.
Several of the largest European peer-to-peer marketplace platforms have originated in Latvia, such as Mintos and Twino, which are currently adapting to the recently adopted regulatory
changes, by either acquiring an investment firm license and/or electronic money institutions license.18
In order to obtain a license to operate an electronic money institution or for the operation of a payment institution, the company must submit a complete application to the FCMC.
Depending on the licensed activities, the minimum capital requirement for an EMI is EUR 350,000 and for PIs starting from around EUR 20,000 up to EUR 125,000.
The FCMC shall take a decision on the issuance of a license or refusal to issue a license and inform the applicant within three months after receipt of all the necessary documents, as well as detailing the reasons in the event of a refusal. If all relevant documents are not submitted or submitted incomplete, the FCMC can prolong the duration for an additional three months, and therefore the licensing process can take up to 6 months (and as we have seen in practice, sometimes even longer).
In the event, a FinTech company already holds the respective documentation for a UK-issued EMI or PI license, it could save time in adapting the documents and reduce the assessment period before the FCMC.
For FinTechs who intend to provide innovative payment services, FCF reduces state fees for the examination of documents submitted for the respectively chosen license of either electronic money institutions or payment institutions. Following the registration or authorization, the annual charge is also set lower than average for the first three years.19 In other words, these instruments assist with limiting the financial burden (i.e., licensing and maintenance costs) at the early stage.
The main demand for employee stock options originates from FinTechs and other start-ups, which attract strong and high-level candidates for skyrocketing their ideas into a profitable company with promising equity.
Employee stock options, if developed thoughtfully, can attract employees for the long-term and set the ownerships’ mindset. Especially within the startup community, stock options are also used in cases when a company is not able to afford the increases in employees’ salaries at the time.
At the beginning of 2021, the Latvian Personal Income Tax Law and Commercial Law brought about favorable changes. These changes expanded the possibilities to grant stock options not only to joint-stock companies but also to limited liability companies’ employees, board and supervisory board members, and other related companies’ employees.
The minimum holding period has been reduced from 36 months to 12 months and in addition, it is possible to exercise the option within 6 months after employment is terminated without losing the tax exemption.
The FCMC has undertaken (until 31 December 2021) to create a development and support model enabling enterprises to prepare for their participation in the capital market in case of the issuance of shares and/or bonds.20
Similar to Lithuania, Latvian SMEs can apply to reimburse the costs incurred by acquiring third-party advisory services necessary exclusively for the listing of shares and/or bonds.
Expanding into Latvia or any other Baltic country can be a challenging process, but we have the technology to make it a streamlined and much simpler journey.
Explore Centuro Connect, a FREE business expansion platform tailored to businesses and industries of all types, with a bank of valuable information and guidance all on expanding your business to a choice of 100+ countries. There’s no risk, no hidden costs, and no endless documentation to fill out. Just a wealth of information and like-minded experts to help you throughout your international business expansion. Sign up today by clicking HERE.
Preparations are fully underway for our Annual Global Expansion Conference on 3-4 May in London, and we cannot wait to see you. In the lead-up to May 3, we will be keeping you apprised of our great lineup of highly influential and prominent speakers who will share their perspectives and the latest innovative progress made across various industries and countries in helping to drive international business growth.The Centuro Global Expansion Conference continues to have an undeniable impact on transforming the global expansion space by forging promising and collaborative partnerships that have enabled progress towards navigating risk and compliance anywhere in the world – creating a sustainable, inclusive future of international business.The conference has moved beyond its depth of content and diversity of attendees to create greater outcomes in organizations and across industries. The question at this critical moment in time is: How will today's global challenges impact the future of work and cross-border business as we know it? This is the question our speakers will explore as they delve into discussions around ESG/sustainability, Leadership, Remote and Hybrid work, Global Mobility, Compliance, DE&I, the Metaverse and more.As a global community, we are at the very beginning of this frontier, and Centuro Global Expansion Conference will provide the platform to unpack key trends, themes, and technologies that will define the rapidly evolving future of work and international business.We kicked off the conversation at the inaugural Centuro Global Expansion Conference in May 2022, and we’re excited to continue at this year's event.Check out some of our talks from last year to learn more about why we hold our speakers in such high esteem, and why we are so excited to welcome you to #CenturoGEC2023 on May 3-4!Meet our speakers The future of work and cross-border business is a very complex subject of discussion, that’s why we are inviting top leading experts on the topic for each perspective.Our speakers include thought leaders, subject matter experts and innovators leading today’s most successful global workplaces and creating the next generation of employee experiences and innovation. A Q&A session will follow each speaker’s sessions, enabling delegates to interact directly with the speakers and during the networking breaks following the keynotes and panel discussions.Juliet Slot, the Chief Commercial Officer of Arsenal F.C., will explore what the future holds for Senior Executives as the future of work exerts pressures on companies to evolve and change.David Palmer, Blockchain Lead from Vodafone Business, will share opportunities that exist in the Metaverse and how to create new business models through a digital experience.Simon Massie-Taylor, the Chief Executive of Premiership Rugby, will focus on revenue generation, marketing and brand partnerships and digital and data transformation, specifically on how global business leaders can use them in creating visions for their companies to compete at an international level.Nina Jane Patel, Co-founder and VP of Metaverse Research, Kabuni, will ensure that we will learn about how the Metaverse is being built and how to get involved in that process.Peter Knight, Head of Global Mobility at Rolls Royce, will address a variety of global topics while looking at local approaches to improve employee development, mobility management, and compliance.The list of Speakers doesn’t end here! Many more of them are ready to freshen up your view during our 2-day action-packed event!Learn more about our speakers here.What they'll be speaking aboutMetaverse and Web3: Regulatory risk of what is to come, how does this impact people and remote workIs the metaverse futureproofing remote and hybrid working? Or is it creating greater risk? Employers are leveraging metaverse technologies to help improve connection, innovation and collaboration for remote working opportunities. From 3D virtual meetings in a ''metaverse office'', to global off-site team building ''retreats'', the possibilities of working in the metaverse are limited only by imagination. Will the Metaverse also render overseas assignments redundant?Nonetheless, risks within the metaverse are still unknown and could cause compliance and regulatory challenges for companies. What does a metaverse policy entail? Is a metaverse office legitimate based on global guidance and legislation? What are some of the risks and data protection considerations? What rights do employees have within the metaverse and who is helping to govern employee interaction?Sleepless in the C Suite: what’s keeping business leaders awake in 2023?New realities, new strategies: what is keeping leadership teams awake? Companies are laser-focused on transformation – embracing the changes initiated or accelerated by the pandemic. Their concerns include People, Purpose, Prices and Productivity. But they're also grappling with exogenous risks – geopolitical tension, political market interference and the climate emergency. How do various cross-border teams come together to deal with global challenges whilst focusing on business growth and expansion? Learn from top C-Suite experts in this panel session.Future flash: Latin America at the centre of the new global order Latin America may be the world's most consequential yet under-discussed geography – despite arguably lying at the centre of the New Global Order. Conversations involving Latin America tend to be siloed, unlike those involving China, India, Southeast Asia, or Africa, which are woven into the global discourse. Yet Latin America is situated in the crosshairs of the biggest questions about humanity's collective future: climate and environmental destruction; natural resources; de- globalisation; and societal inclusion....and many more.Get ready and join us for a journey through the wonders of an innovative, inclusive and sustainable future of work and cross-border business. We eagerly invite you to be a part of the conversation!Have you registered yet? Visit www.globalexpansionconference.com or fill out the form below to register and save your spot!
What would you like your work view to be like? Snow-covered slopes in Aspen or a warm sandy beach in Bali or serene cityscape in Cape Town? If we had asked someone this ten years ago, they would have scoffed at the ludicrousness of the suggestion. Until recently, work meant trudging to an office and working in your boring cubicle. But the pandemic-induced lockdown changed how and where people work. Productivity rather than conformity has been established in the last few years.Being a digital nomad and digital nomad visas have been the trend for a few years but have seen massive growth since 2020. Do you want to become a digital nomad and work from almost any location, then it's essential to know the countries offering digital nomad visas, and how to apply. The application process, eligibility requirements, visa length, costs, etc., vary from one country to another.You must carefully look into each factor while applying for digital nomad visas. This guide will help you understand the titbits of digital nomad visas.What are digital nomads?A digital nomad is an individual who travels to different locations, adopts a nomadic lifestyle, uses modern technology and works with Wi-Fi-connected laptops, and enjoys location independence workstyle. They mostly work in the IT or creative services domain.There are an estimated 35 million digital nomads worldwide. In 2022, over 50% of the total digital nomads worldwide were from the US, and the rest, 7% from the UK, 5% from Russia, 4% from Canada, and other nationalities, made up the remainder. Digital nomads contribute a global economic value of $787 billion per year.The average age of a digital nomad is 32 and most digital nomads start their nomad journey at the age of 29. Millennials comprise around 44% of digital nomads. On average, they make around $117,959 yearly, and 70% of digital nomads work 40 hours or less in a week and 33% work above 40 hours.Benefits of being a digital nomadThere are several benefits of working as a digital nomad, likeAffordable cost of livingThe flexibility of choosing a work locationOffice politics has no impact on your work patternExperience a new culture and meet new peopleLearn a new languageBroaden your knowledge with regular travelling experienceEnjoy flexible work timingIn most cases, zero income tax!Documents required for digital nomad visasA digital nomad visa is a temporary resident visa for remote workers, freelancers, self-employed, or students (depending on the country's norms), allowing them to stay in a foreign country and work remotely. Different countries offer these digital nomad visas. While most of them have a duration of up to one year, an extension is possible. The digital nomad visa program and document needed to process for each country vary, but we have compiled a list of standard requirements that are needed.Proof of applicant's nationality (usually a valid passport)Applicant's visa historyProof of applicant's ageDigital Nomad visa application formPassport having a validity of at least six months at the time of applicationRecent photographProof of monthly income sourceEvidence of remote workCivil documents ( it needs to be translated if required by the country and certified with an apostille stamp)Digital nomad visas application processThe digital nomad visa application process differs in different countries, but the application process follows a sequence.Fill out the application form online or offlineCarefully review the instructions provided by the country norms you are applying for a digital nomad visa, and fill out the form.Visit your nearest embassy or consulateApplicants usually fill out and submit these applications from their home country. Visit the nearest embassy or consulate, schedule an appointment to submit your application, and appear for an interview.Prepare relevant documentsYou must keep all necessary documents handy and have them translated (if required). Some documents must have an apostille stamp.Application SubmissionCompile all the documents and the application form and submit them to the embassy, clear the interview, and pay the visa fee (if required). Keep the payment receipt safe.Top Countries Offering Digital Nomad Visas in EuropePortugalPorto is one of the well-known digital nomad communities in Portugal and C’alma cafe is one of the best spots for working and having good vibes.Portugal recently launched their digital nomad visa program for digital nomads and remote workers. Earlier, there was no direct visa for digital nomads and remote workers willing to stay in Portugal without making a significant investment through the Portugal Golden visa or having proof of passive monthly income through the Portugal D7 visa.Requirements for application:Anyone outside the EU, EEA, or Switzerland can apply for a digital nomad visa to enter and work in Portugal.You must be self-employed or work for any company outside of Portugal.You can also apply remotely from anywhere in the world at the closest Portuguese Consulate or the Portuguese Immigration and Border Service or SEF.The standard tax rate is 15%, but the country has an affordable cost of living and excellent working conditions.Cost: You pay approximately €180 for the initial visa application and €320 for the residence permit once you are in the country.Length of visa: Apply for up to one year, but can be extended up to 5 years.Income requirements: You must make four times the minimum wage in the country, €2,800 per month in the last three months, before applying for the visa.Can you take your family:You can apply for the visa with your spouse and children.Path for citizenship available: If you have proof of living in Portugal for five years or more, you can apply for permanent residence and receive an ID card like any other Portuguese.SpainThe Shed CoWorking is one of the best cafes and coworking spaces in Madrid, Spain.Requirements for applicationNon-EU nationals working remotely for non-Spanish companies or freelancers with multiple clients can apply for a digital nomad visa.You need to prove to work with a particular client or company for more than three months before applying for the visa, and that company must have been operational for at least one year.Applicants require health insurance and must have no criminal records in a country they have resided in for the past five years.You can either apply for a digital nomad visa directly from a consulate or embassy in your country or enter Spain on a tourist visa and apply for it within the first three months.Required documents: Application formAdministrative fees payment proofCopy of your passportQualification or work experience proofEmployment and income proofLetter of authorization from your company to work in SpainProof of clear criminal record Proof of health insurance.Cost: The cost of applying for a digital nomad visa in Spain is roughly €75-€80 and can be a little higher while applying for a residence card.Length of visa: You can stay for up to one year or throughout the employment period if it is less than 12 months. However, it can be renewed for up to 5 years.Income requirements: 200% of the country's monthly minimum income, which is €2,334 per month or €28,000 per year. However, it is likely to rise slightly as the country reevaluates the minimum wage.Can you take your family: Children and spouses can join the visa holder with proof of sufficient funds. A family with two people, including the visa holder, must have an additional 75% of the country's minimum monthly wage, and 25% is added for each member after that.Path for citizenship available: After five years of living in Spain continuously, one is eligible to apply for permanent residence, and after ten years of residency, one will be eligible for citizenship.GermanyMunich in Germany is very famous for its beer, food and historic vibes!Requirements for applicationAnyone working in a specific liberal profession, including freelancers, digital nomads, and self-employed, can apply for a freelancer visa.Documents required: Local address proof in GermanyProof of health insuranceProof of financial self-sustainabilityProof of working with a client based in GermanyCost: You would need to pay around €100.Length of visa: It is available for around six months to 3 years.Income requirements: You need at least €9,000 per year to live comfortably in Germany.Can you take your family:Yes, you can immigrate with your family.Path for citizenship available: After five years, you can apply for permanent residency, and after six years, German citizenship.Top Countries Offering Digital Nomad Visas in North and Central America MexicoPuerto Vallarta is the gay capital of Mexico providing a safe environment for lots of LGBTQ digital nomads. Requirements for applicationIf you stay in Mexico for up to six months, you will receive a tourist visa with no income requirements, and you don't need any digital nomad visa in the country. However, above that, you must apply for a temporary residence visa.Documents required:Valid passportVisa application formA colour photographOriginal and copy of the legal permit to stay in the country where the appointment is taking place Proof of incomeCost:The interview fee is $40 to get the visa at the Mexico consulate and to get the temporary permit card, and you need to pay an additional fee of $150 to $350.Length of visa:You can stay anywhere between 6 months to 4 years.Income requirements:The minimum is $2,600 per month; however, if you bring a spouse or dependent, the amount increases by $861 for each family member.Can you take your family:Yes, but the income threshold increases.Path for citizenship available:You can apply for permanent residency after four years of temporary residence in the country.Top Countries Offering Digital Nomad Visas in the Middle East and AsiaDubaiDubai is the third country with the best internet connection in the world, with an average internet speed of 118.52 Mbps according to the Digital Quality of Life Index (DQL). Requirements for application:The Remote Working Visa Scheme of Dubai allows anyone qualified to move to the country and enjoy the same rights as other residents.Documents required:Application formValid passportDigital passport photoProof of confirmed accommodationMedical insurance. For business owners, you must provide proof of company ownership for one year or more and bank statements for the last three months. For employees, you must provide proof of employment with a one-year contract, last month's payslip, and bank statement for the previous three months.Cost:It costs around $611, including the application fee of $287.Length of visa:You can stay for one year, but it is renewable upon reapplication.Income requirements:The minimum is $5,000 per month for business owners and employees.Can you take your family:Yes, you can bring family members with you.Top Countries Offering Digital Nomad Visas in South AmericaColumbiaMedellin in Colombia is where you’ll find the most co-working spaces and backpacker hostels such as Selina. Documents required: Valid passportProof of working as an employee freelancer or self-employed outside of ColumbiaEvidence of international health insuranceCompany letter of employmentCost: It costs around $170 and $230 for a visa application.Length of visa: You can stay for 180 days or six months in a year to 2 years.Income requirements: You need a minimum income of around $670 per month.Can you take your family:Applicants can bring their spouses and dependents on a digital nomad visa.ArgentinaBuenos Aires is one of the most exciting places in Argentina with a rich architectural and cultural heritage, modern creative energy, electric nightlife, unique traditions, and a vibrant arts scene!Documents required: Valid passportApplication formA CV stating your experience in the field and level of studies or training achievedPhotoProof of employment or receipt of incomeCost: It costs around $80 to apply.Length of visa: You can stay for one to three years.Path for citizenship available: After two years of stay in Argentina, you can apply for citizenship.Top Countries Offering Digital Nomad Visas in the CaribbeanBermudaThe Bermudian dollar (BMD) is the official currency of Bermuda and is pegged to the U.S. dollar at a rate of 1:1. American currency is also often used interchangeably on the island.Requirements for application:Anyone looking to work as a freelancer or for a foreign country remotely from Bermuda or an online university or college student can apply for the digital Nomad visa.Documents required: A colour scan of the passportScan of visa to enter BermudaProof of employmentProof of enrollment at the university if you are a studentValid health insuranceClean criminal recordProof of income taxCost: The application fee is $263.Length of visa: You can stay for 12 months, and it is renewable, depending on your circumstances.Income requirements: There is no specific income requirement.Can you take your family:Yes, you can.AnguillaAnguilla launched the "Lose The Crowd Find Yourself. Work. Life. Bliss. Program" to target digital nomads or remote workers, their families, and students.Anguilla is tunning! The whole island is essentially one beach after another!Requirements for application:You must provide details of self-employment or employment as a remote worker by a company outside Anguilla to apply for the visa.Documents required: Application formProof of employment or business incorporation certificateProof of visaValid police clearanceEvidence of applicant's relationship to dependentsPre-arranged transfer details to and from AnguillaValid health insuranceAccommodation bookingCost: The visa application fee is $2,000 for individuals and $3,000 per family of four members and $250 for each additional dependent. For students, the fee is $2,000.Length of visa: You can stay for three to twelve months, it cannot be extended, and you need to reapply for the visa upon completion of the validity.Can you take your family:Yes. But you need additional documents like a copy of a birth certificate, a copy of a passport picture, a brief description of the applicant's work, and proof of school enrollment for students.Path for citizenship available: You will get an Anguilla residency if you are married and the spouse is a citizen or a permanent resident of the country.Top Countries Offering Digital Nomad Visas in AfricaMauritiusIf you want to have some work done without spending on coffee or coworking spaces, libraries in Mauritius are the solution. They are located in every city and town with amazing internet speed.Requirements for application:Digital nomads can now apply for Premium Travel Visa in Mauritius from October 2020. If you are not eligible, get a tourist visa for Mauritius from your home country's corresponding embassy or consulate.Documents required: Application formCopy of the biometric data page of your passportPassport size photographCopy of airline ticket, Travel and health insuranceAccommodation proofProof of incomeProof of dependentsCost: The visa application is made free of cost.Length of visa: You can stay for one year and can be extended.Income requirements: You need to earn a minimum of $1,500 per month.Can you take your family:Yes, but you need to show an extra income part-dependent Learn how to convince your employer to allow you to work remotely!How can Centuro Global help with Digital Nomad visas?We help you understand the liabilities of international remote working and guide you throughout the process, from dealing with accommodation requests to applying and getting a visa or work permit or simply ensuring you meet the tax thresholds. Our experts help you find the best visa option to ensure a smooth application process.ConclusionIf you are looking for a job that doesn't tie you for hours in the office, try being a digital nomad. You can work out at cafes, beaches, or hotel rooms and anywhere worldwide, thus enjoying location independence, a flexible work schedule, and an outstanding work-life balance. However, while travelling to a new country for work, you must apply for a digital nomad visa.For expert assistance, ask us at Centuro Global. We provide strategic advice and guidance that saves you time and is a cost-effective way of finding the best country for a digital nomad visa and more.FAQs1. What is a digital nomad visa?The digital nomad visa permits you to stay, travel and work remotely in a foreign destination.2. Where can I submit the digital nomad visa application?You can submit the digital nomad visa application at the nearest embassy or consulate after carefully filling out the form and attaching the required documents.3. Do I have to pay income tax under a digital nomad visa?You must file a tax return in your residential country if you own a digital nomad visa. However, whether to pay taxes depends on the country you are applying for the visa. For example, in Estonia, if you stay for more than 183 days, you will be considered a tax resident of the country.
The Digital TransformationWith the immigration backlogs in some countries, including the UK, there is a growing appetite for digitisation to facilitate visa and work permit applications across all visa application centres.Around the world, governments have spent the past few years moving towards online services for visa applications. Canada implemented a platform to support the IRCC in 2021, whilst Sweden launched the Kraftsamling in December 2022. South Africa has also undertaken a digitisation project and is looking to implement self-service kiosks to help citizens and residents obtain official documents in a more streamlined manner.However, in many countries tech advancements for immigration procedures are lagging behind the need for more streamlined processes, and there are also concerns about whether digital technology will create new challenges of its own. Considering Immigration Rules and Document Collection Shifting away from manual paperwork collection and submission, digital technologies, in many jurisdictions enable employers and employees to submit online application forms to the official processing bodies. Depending on the type of application, some countries have already started taking to steps to eliminate the requirement for providing hard copies during in-person appointments. In New Zealand, temporary permit types can be lodged with digital copies, though permanent residence types still require originals to be presented. One of the greatest challenges, however, is that in many countries existing “wet-signature” requirements on certain documents add a considerable amount of time to the application process.In one example, a Russian National living in Thailand and moving to Luxembourg is required to order their Police Clearance Certificate (PCC) from Gosislugi, have the document posted to a friend, family member or POA within Russia, and have the document forwarded to Luxembourg via a third country (e.g. Georgia), due the shipping ban from Russia in the EU member states.The complete process often takes between 2-3 months for the procurement of a single document. In an effort to move away from cumbersome processes, more countries are taking steps to accept scanned documents.Concerns with Digital Innovation Risk Even with the digitisation movement, immigration is still a challenging subject to navigate, and officials can sometimes request unnecessary documents, original copies, or other details before making a final decision. In these circumstances, it is helpful to have an expert provide guidance and support along the process and liaise with the public authorities on behalf of the applicant. Further advancements in the digitisation of immigration consider the biometric data collection and storage of applicants through passports, ID cards, and permits. The digital biometric collection is susceptible to “spoofing”, in which applicants sometimes remove blemishes or other distinguishing marks from digital images that can impact the validity of the identification document at a later stage.When biometric photos are collected during office appointments, this risk is mitigated. In even more advanced processing centres, facial recognition software has been found to be disproportionately biased towards people of colour – misidentifying them as individuals with criminal backgrounds. In the immigration process, this technology error could have a devastating impact on the success of an application.Conclusion By eliminating manual paperwork where possible in the application process, creating platforms for tracking the status of applications, and loosening restrictions on the format of the accepted documentation, government departments around the world are enabling a higher processing capacity for applications and reducing immigration backlogs.We can expect more countries to move towards modernisation in the coming years, allowing for globally expanding companies to make faster hiring decisions. However the digitisation process has its limits (for now) and doesn’t completely eliminate the need for humanitarian assistance, and some experts have concerns that too much dependence on technology can have negative impacts on the immigration process. If you want to hear more about this subject, and the legislative considerations with deep-tech advancements, join us at the Centuro Global Expansion Conference in London this May.
The traditional workplace has been rapidly changing since the onset of the COVID-19 pandemic. With remote working becoming the new normal, businesses are looking for ways to maximise the potential of the new reality.There are a number of practical challenges to successfully and compliantly implementing a work-from-anywhere policy. One of the most talked about is Airbnb’s “Work from Anywhere” policy, which offers most employees the freedom to work from any location in the world.How did they do it and how can others learn from Airbnb's approach to compliantly offer their staff the same benefits? Read on to find out.Introduction to the “Work from Anywhere” PolicyAirbnb’s “Work from Anywhere” policy is designed to address compliance challenges and unlock the potential of remote working. This policy is different from a traditional telecommuting policy, as it gives employees the option of working from anywhere in the world.The policy requires employees to spend at least three months in each location they choose to work from, in order to foster a sense of community and build relationships with colleagues. This ensures the most meaningful connections happen and individuals can meet regularly for team gatherings.Additionally, the policy has a built-in security measure, as employees are required to use a VPN when working from public networks.Why did Airbnb introduce this policy?Brian Chesky, the CEO and co-founder of Airbnb, stated that "people are no longer just travelling in Airbnb’s. They are living in them". This is a statement that has a profound impact on the travel industry, as it proves that people are spending more time in locations outside of their home country, or home location, and are looking for more flexibility in where they choose to reside.Airbnb made significant profits and success due to the millions of people who chose to work from Airbnb apartments during the COVID-19 pandemic. It led to "the most productive two-year period in our company's history," according to CEO Brian Chesky.Thus, it makes sense that they wish to encourage remote working themselves, as it is that very model which has brought increased success to their business.The policy creates a culture or work-life balance, where Airbnb employees have the freedom to work remotely be it from anywhere in the country, a temporary move or a permanent international move. The policy seeks to promote amazing creativity, whilst ensuring meaningful human connection whether meeting in the same room at the office, at company off-sites or in various locations around the world from San Francisco to Tokyo.In this new world, companies that fail to implement such a policy will be considered dinosaurs from decades ago, will struggle to attract top talent from diverse backgrounds and will have lower access to the global talent pool.However, to successfully implement this policy on a global scale, Airbnb has had to implement a 30-person team within HR to approve work-from-anywhere requests and ensure the vast majority of their employees can work from their desired location compliantly.This is because international remote working comes with a host of tax, legal, employment and wider compliance risks. So how can you implement such a policy without such a significant burden?International Tax Risks of Remote WorkingOne of the biggest challenges of remote working is the issue of international taxes.Some of the key points include:Permanent Establishment (PE) Risk:If an employee is working remotely in a foreign country for an extended period, it can create a risk of the employer having a Permanent Establishment in that country. This can trigger tax obligations such as corporate income tax, withholding tax, and social security contributions.Double Taxation Risk:Remote workers may be subject to tax in multiple jurisdictions, which can lead to double taxation. For example, an employee who is a tax resident in one country but is working remotely in another country may be subject to tax in both countries on their income. This can result in a higher tax burden and can create compliance challenges for both the employee and employer.Compliance Risk:Remote workers may be subject to different tax laws, regulations, and reporting requirements in the countries where they are working. This can create compliance risks for both employees and employers, who may be required to register with tax authorities, file tax returns, and pay taxes in those countries.Transfer Pricing Risk:Remote working can also create transfer pricing risks, which arise when related parties (such as an employer and an employee) engage in cross-border transactions. Transfer pricing rules require that these transactions be conducted at arm's length, and if they are not, it can result in additional tax liabilities, penalties, and interest charges.To mitigate these risks, employers and employees should seek advice from tax professionals and review their contracts, policies, and procedures to ensure compliance with international tax laws and regulations.Employers may also need to consider the impact of remote working on their tax strategies and corporate structures, and employees may need to consider their tax residency status and the tax implications of their remote work arrangements.Centuro Global offers the right solution to ensure your staff can work from anywhere compliantly.Download a free complete guide to work from anywhere compliantlyInternational Remote Work and VisasCompanies must also be aware of the visa requirements for employees working in different countries. Companies must ensure that their employees are compliant with the visa laws of each country they are working in.Some of the key immigration and visa risks of international remote working include:Right To Work Checks: Working remotely from a foreign country without proper work authorization can violate local laws and regulations. This can result in fines, penalties, and deportation for both the employee and the employer.Visa Compliance Risk: Employees who are working remotely from a foreign country may be required to obtain a specific visa or work permit, even if they are not physically present in the country. Failure to obtain the proper visa or work permit can result in visa violations and can impact future visa applications.Immigration Policy Changes: Immigration policies and regulations can change rapidly, particularly in response to global events such as the COVID-19 pandemic. This can create uncertainty for employers and employees who may need to adjust their work arrangements or visa applications.Many countries and local governments are starting to launch digital nomad visas to attract international visitors and so some companies may wish to be selective and pick a specific location where remote work is permitted rather than allow staff to work from anywhere fully remote.Remote Work Policy and ComplianceWhen building remote work policies, companies must ensure that they are compliant with the laws and regulations of each country in which their employees are working.This includes ensuring that the policies are in line with the country’s labor laws, tax laws, and visa requirements are met.Furthermore, companies must ensure that their remote work policies are up-to-date and compliant with the ever-changing laws and regulations. This can be achieved by regularly reviewing the policies and making necessary changes to ensure compliance.Centuro Global can help you create your policy and ensure you operate internationally fully compliantly.The Future of Remote WorkingThe future of remote working is bright, as more and more companies are beginning to embrace its potential. Companies are looking to take advantage of remote working by investing in the right tools and technologies and offering employees the freedom to work from anywhere in the world. Those who fail to do so will be at a significant disadvantage in attracting new job seekers.Ultimately, the future of remote working will be shaped by the policies implemented by companies. Airbnb’s “Work from Anywhere” policy is a great example of this, as it offers employees the freedom to work from anywhere in the world while still maintaining a sense of team cohesion and collaboration whilst maintaining relationships whether they work from home or the office or overseas.ConclusionRemote working is here to stay, and companies must be prepared to unlock the potential of remote working.Airbnb’s “Work from Anywhere” policy is a great example of how companies can maximize the potential of remote working, while still being compliant with the laws and regulations of each country.Companies must ensure that their remote work policies are up-to-date and compliant with the ever-changing laws and regulations. Additionally, companies must be aware of the potential tax liabilities and visa requirements for their employees.By investing in the right tools and technologies, and offering employees the freedom to work from anywhere in the world, companies can unlock the potential of remote working and experience the many benefits it has to offer.Rather than build out huge teams to review and permit work from anywhere, companies can now use technology and outsourced support from Centuro Global to effectively and compliantly permit international remote work.Get in touch now to learn how we can support your work-from-anywhere program.Services include right-to-work checks, visa and immigration support, tax compliance, policy writing and much more, for every country in the world, all tracked and managed via one centralised platform, Centuro Connect.
The UK Home Office has released details relating to the India Young Professionals Scheme Visa. The new scheme is bespoke and reciprocal similar to the existing Youth Mobility Scheme. However, unlike the Youth Mobility Scheme, which requires no qualification, the India Young Professionals Scheme requires applicants to hold a qualification of bachelor’s degree or above, or an equivalent foreign qualification at degree level or above.Indian nationals and citizens aged between 18 and 30 who have an eligible qualification, savings to support themselves, and do not have any children who live with them or for whom they are financially responsible can be granted a visa through this scheme.Successful applicants will be able to live and work in the UK for up to two years. They are also able to enter and exit the country at will while their Young Professionals Visa is valid.India Young Professionals Scheme ballot Opens On 28 FebruaryThe first ballot for the 2023 India Young Professionals Scheme is set to open on 28 February and close on 2 March with 2,400 visas available.We understand successful entries will be picked at random and results will be sent within 2 weeks of the ballot closing. Successful applicants will have 30 days from the date of the email to apply online, and pay the visa application fee and immigration health surcharge.Below, we outline the eligibility criteria, application process and permitted activities under the India Young Professionals Scheme visa.Eligibility RequirementsApplicants must first submit their details to the India Young Professional Scheme ballot and will only be invited to apply for the visa if their name is selected. Names will be chosen at random, and the ballot is free to enter.The first ballot of the year officially opens on Tuesday, 28 February 2023, at 8.30 am GMT and closes on Thursday, 2 March 2023, at 8.30 am GMT.Those individuals considering applying to the ballot should be aware of the following eligibility criteria:The applicant must be an Indian citizen;Aged between 18 and 30; andHolds a qualification equal to or above a bachelor’s degree (RQF Level 6).Individuals must provide a local police certificate or a police clearance certificate issued no more than 6 months before the date of application. They must also be able to demonstrate they have at least £2,530 available in a bank account to support themselves in the UK.The Ballot StageYou can enter the ballot if you are an Indian citizen and you meet the above eligibility requirements for the India Young Professionals Scheme. If you’re successful in the ballot, you’ll receive an invitation to apply for the visa.The link to enter the free online ballot will appear HERE once it is live. You can enter the ballot at any time whilst it is open. You will need to provide your:NameDate of birthPassport detailsA scan or photo of your passportPhone numberEmail addressThose who are not successful in this ballot can enter future ballots if they meet the requirements of the visa scheme.What Is Needed For The Ballot?First and foremost, you have to make sure you are eligible for the scheme. You must be a citizen of India and meet the other eligibility requirements listed HERE.To take part in the ballot, please visit the Home Office webpage, where a link to the ballot will appear during the stated period of time: 2:30 pm India Standard Time on 28 February 2023, and close at 2:30 pm India Standard Time on 2 March.It's free to enter the ballot.If you're successful in the ballot but choose not to apply for the visa, you do not need to notify Home Office.Visa Application ProcessAn applicant selected through the ballot will be invited to submit their visa application within 30 days of receiving their selection notification.The applicant will be required to pay an application fee (currently £259) and an Immigration Health Surcharge fee (currently £954). At the application stage, you will be required to demonstrate your ability to meet the following educational and financial requirements of the visa scheme:Hold a UK bachelor’s degree certificate or equivalent. The college or university will be required to provide written confirmation that the applicant has completed their studies and graduated with the required qualification.Provide evidence that they have savings of at least £2,530, which must have been held on account for 28 days prior to the date of the application.Submit a police report or clearance certificate from India.Schedule an appointment at the visa application centre closest to their home. At this appointment, their photograph will be taken and fingerprints recorded to produce their biometric residence permits.Individuals who live in India or those who have been in India for more than six months directly preceding the date of the application will be required to submit a certificate confirming they are free of infectious tuberculosis. The applicant should arrange to be tested ahead of their visa appointment.The applicant can typically expect a decision on their visa within three weeks of attending the visa appointment unless they opt to purchase one of the priority services for a faster decision.If your visa application is successful, you’ll be given a visa to live and work in the UK for up to 24 months. You can enter the UK at any time while your visa is valid, and leave and come back at any time during your stay.How Long You Can StayThose granted visas under this scheme will be able to work, study and live in the UK for up to two years.Whilst in the UK on an India Young Professionals Scheme visa, you can:StudyWork in most jobsBe self-employed and set up a company – as long as your premises are rented, your equipment is not worth more than £5,000 and you do not have any employeesYou cannot:Extend your stayApply for most benefits (public funds)Include family members on your application – they must apply separatelyWork as a professional sportsperson (for example as a coach)Two years is the maximum validity period for this type of visa and cannot be extended. However, for those who wish to stay in the UK longer, this may be possible by later qualifying for a different visa category.For example, if a successful applicant finds sponsored employment before the expiry of their two-year permission, they could be eligible to apply for a different, longer-term form of immigration permission such as the Skilled Worker visa.Keep up to date with the India Young Professionals Scheme visaIf you require assistance or further information on the India Young Professionals Scheme visa, including eligibility, requirements and how to apply, please do not hesitate to contact us at hello@centuroglobal.com
The Centuro Int-X Awards are back and better than ever, and we're ready to honour the organisations and individuals who have pushed boundaries, taken risks, and achieved commercial success on the global stage. The Centuro Int-X Awards are where the best of the best in international business come together to showcase their achievements and be recognized for their contributions to the wider community of global expansion. If you've undertaken an international project or have an innovative solution that helps companies enter new markets, this is your chance to shine and be part of the Centuro Int-X Awards. Winning a Centuro Int-X award is not just an honour, but a powerful recognition and validation of the impact and value of your work and global expansion efforts. So if you're a company that is involved in or making a real difference in the world of cross-border business, what are you waiting for?! Submit your entries now and join the ranks of the most elite players in the game.KEY DATES:7 February – Award categories announced & registration opens 31 March – Deadline for nominations5 April- Shortlisted finalists announced and voting opens 11 & 13 April – Live Pitches Round 1 for shortlisted finalists 23 April – Voting closes 3rd May – Winners are announced at the Int-X Awards Ceremony JUDGING CRITERIAOur judges are looking for businesses that have demonstrated a variety of factors including but not limited to:Expertise and innovation in expansion Strategic vision Employee development Sustainable improvements in financial performance A commitment to CSR.THE PROCESSApplicants are asked to submit evidence of their suitability by completing the application for the relevant categories.Applications are then reviewed by Centuro, who will then shortlist finalists for each category.A public vote will then determine the winners, and shortlisted finalists will have the opportunity to pitch to the public via two live online events.Once the voting closes, winners will be announced at the Gala Awards ceremony taking place on 3 May 2023 at Hilton Syon Park, London, UK.CATEGORIES MOST INSPIRATIONAL GLOBAL EXPANSION This award celebrates organisations that have entered a new market and made a real impact.You may have:Streamlined your processes to successfully enter new markets in record time; Used your global expansion efforts to undertake a significant project supporting local communities and strengthening local economies and society; Leveraged your international growth to promote new levels of diversity and market success; or Implemented a pioneering strategy. Apply Now MOST INNOVATIVE GLOBAL MOBILITY TEAM As patterns of new ways of work continue to evolve, companies are adapting to the unprecedented challenges they are facing in the workplace. Across the globe, there has been a boom in remote work, with ‘’ work from anywhere’’ becoming an option for many. The compliance risks, as well as the cultural shifts and demands for how employees are working, require flexibility and innovation. This award celebrates the experts in Global Mobility and HR, who are helping to revolutionise global mobility best practices, shape future thinking policies and use employee engagement to pave the way for talent management. We are looking for pioneers who are setting the standards in terms of what leadership and management within Global Mobility and HR should look like.Apply Now OUTSTANDING FINTECH SOLUTION SOLUTION This award is the pinnacle of achievement for companies that are revolutionizing and making a positive impact on the way we do international business. It is designed to recognize and honour those organizations that are at the forefront of solving the complex and ever-evolving challenges of international commerce, particularly through banking and borderless payment solutions.Whether it's through the development of cutting-edge fintech solutions, the streamlining of FX payments, the optimization of supply chain and logistics, or any other innovative approach, the company that wins this award is one that's driving progress and shaping the future of global trade.Apply Now MOST INNOVATIVE WORKFORCE SOLUTION The world is changing and becoming more agile with how we offer new hiring, managing, and resourcing planning tools for talent globally. Workforce management tools meet a modern business need by allowing companies to quickly make strategic workforce planning decisions. Ranging from creating easier onboarding processes to allowing HR professionals to improve people management for teams and schedules, these tools have empowered employers to make data-driven decisions without the hassle. This award celebrates the best workforce management providers and seeks to recognise the most innovative and high-quality solutions in today's marketplace.Apply NowOUTSTANDING INTERNATIONAL RECRUITMENT FIRM This award is open to all recruitment firms providing impeccable service and helping businesses to build their global teams. They recognise the difficulties businesses are facing in tackling the war on talent and provide solutions that overcome compliance challenges in a global market. By partnering with relevant experts and leveraging a network of global players, they make it possible to seamlessly move talent across all corners of the globe. The global workforce landscape continues to shift dramatically and this award is aimed at those international recruitment firms that are stepping up to the challenge and adapting to help both candidates and employers alike across jurisdictions. If you’re helping shape the talent landscape, then this award is for you.Apply Now BEST COUNTRY INITIATIVE TO PROMOTE GLOBALISATION This award is a prestigious honour that recognises and celebrates the nations that are leading the charge in fostering a more interconnected and inclusive world. It targets those countries that have implemented innovative and effective initiatives to support ex-pats, open their borders, and promote the flow of people, goods, and ideas across the globe.This award is not just about recognizing the efforts of individual countries, but also the impact of their actions. We look for initiatives that have had a real and measurable impact on the lives of people and communities, through the sectors of creating more opportunities for ex-pats, improving cross-cultural understanding, or driving economic growth and development.Winning this award is a testament to a country's commitment to progress and its role as a leader in sectors of global growth. It's an opportunity to showcase the country's efforts to promote globalization and to be recognized among the elite of the world. The award is a powerful validation of the impact and value of a country's actions and a source of pride for its citizens.Apply Now See Past WinnersLAW FIRM OF THE YEAR (MEMBERS ONLY)Legal compliance is the bedrock of any successful international expansion. Through the Centuro Connect Platform, we have the pleasure to deal with true legal trailblazers whose primary focus is on achieving success for their clients.Legal services are typically regarded as being fairly traditional and conservative and we are looking for firms that have stepped away from traditional models to provide efficient, cost-effective and high-quality services tailored to the company of the future.Apply Now TAX AND ACCOUNTING FIRM OF THE YEAR (MEMBERS ONLY)Tax is often one of the biggest considerations for companies operating in multiple jurisdictions or looking to enter new markets. Financial matters can cause hours of demanding work and vast amounts of expenditure. This award celebrates those that ease the load on their clients by providing truly outstanding services that raise business performance in the field of tax and accounting.Apply Now IMMIGRATION FIRM OF THE YEAR (MEMBERS ONLY)Hiring and moving employees into foreign countries can be one of the most stressful and complicated elements of international expansion. The current global political economy and the shortage of talent continue to pose unprecedented levels of disruption and complications globally. This award will celebrate the companies that have gone above and beyond to help businesses relocate and move talent from all over the world. Apply Now See Past WinnersWHO WILL BE THERE?The awards ceremony will take place during The Centuro Global Expansion Conference 2023, Centuro Global's landmark annual event, designed to equip companies with the skills, resources and knowledge to survive and thrive in the future of work and cross-border business.The conference brings together a community of visionaries and leaders, including investors, HR, Legal and other professionals as well as government officials from every corner of the globe. REGISTER HEREOur inaugural event in 2022 broke all records, with nearly 35 companies and 10 countries represented at the finals!Enter the World's #1 Awards for Excellence in Global Expansion
Mauritius is located in the South-West Indian Ocean, making it an attractive gateway between Africa and Asia. With a population of 1.3 million, Mauritius has an estimated GDP growth rate of 3.8%, boasting one of the fastest-growing economies in Africa, backed by social and political stability. Successive governments have continued to show a commitment to a market-driven economy and encourage foreign investments. It is ranked first on the Ibrahim Index of African Governance 2020 and 13th on the World Bank’s Ease of Doing Business 2020 ranking. General Considerations for doing business in Mauritius Entity Set up in MauritiusMauritius Global Business Company (GBC) The Mauritius Global Business Company is an entity type which generally exists for foreign-controlled entities who intend to set up operations in Mauritius. In 2016, Mauritius agreed to the global BEPS agreement which relates to tax evasion, regulation etc. This introduced an amendment to the Mauritian laws which provides that all non-resident-controlled entities in Mauritius will be required to obtain a Global Business License if they wish to conduct business operations in the country. The benefits of this company include expanding your consumer market and an abundance of employees. Minimum shareholders – 1 Minimum capital USD 1 Minimum 2 directors (Residing in Mauritius) Local corporate bank account Mauritius Authorized Company The Mauritius Authorised company is one whose operations and business control/management exist outside of the country. This entity is regarded as a non-resident for tax reasons. Authorised entities will not be allowed to operate in the banking sector, provide trusteeship services, manage Collective Investment Schemes or provide registered office facilities to corporations. They are allowed to operate in investment and property holdings, IT, international trade, marketing etc. Minimum shareholders – 1 Minimum capital USD 1 Minimum 1 director (Can be foreign national) Local corporate bank account Mauritius Limited Liability Partnership The limited liability partnership consists of characteristics of both corporations and partnerships. This entity type consists of 2 or more partners whose personal liability is limited only to the amount each individual partner invested into the entity. This means that if the business is unsuccessful, creditors may not be allowed to attach any personal assets which belong to the partners. Some advantages of establishing a limited liability partnership are that it allows for increased capital investment, and less risk as it is spread between partners, individual skills and expertise and it is a flexible business type.The preferred partnership structure is usually the LLP since it bears the features of a partnership but also provides the comfort that the liabilities of the partners are limited to the extent of their contributions to the LLP. However, the choice between an LP and LLP will also hinge on the type of activities which it will be conducting.Minimum capital of USD 1 per partner Minimum two partners (both can be foreigners) It should have a resident manager Mauritius Limited Liability Company The LLC is a type of business entity that is similar to a partnership, however, its unique structure safeguards the owners from incurring any personal liability for the debts of the entity. LLCs do not pay direct tax on profits, instead, they pass profits to members who are subsequently taxed individually. There is a restriction that banks and insurance entities cannot be LLCs however any other individual/entity can. The regulation varies by State. Setting up an LLC will offer protection for owners from personal liability and it provides flexibility for investors. It is fairly easy to set up as well.Minimum shareholders – 1 Minimum capital USD 1 Minimum 1 director (Residing in Mauritius) Annual filing is mandatory TrustsA trust is an arrangement for holding and administering property, where the beneficial owner (known as the settlor) creates the trust and transfers property or legal rights to a trustee. In turn, the trustee has a fiduciary obligation to hold or deal with the property for or on behalf of the beneficiaries in accordance with the trust objectives (known as a beneficiaries trust) or for certain purposes (known as a purpose trust).A trust can have up to four trustees, one of whom must be a qualified trustee (i.e. a management company or a person resident in Mauritius and authorised by the FSC to provide trusteeship services). The deed creating the trust must be in writing. A trust is liable to tax its chargeable income. Trusts are commonly used to preserve family assets and are substantially free from taxation.Mauritius Tax Landscape The Mauritius economy relies heavily on tourism, exports and financial services. In recent years the country has been on an uptrend, and it is classified as an Upper-Middle Income economy. The tax landscape has been drastically changed due to the pandemic and other social and political factors which have affected the economy. The government has introduced new tax measures such as laws and guidelines to combat these changes.There have been various measures introduced due to the changes in the tax landscape. One of the most significant changes is the reforms in the global business sector. There is a new Global Business Licence (GBL) replacing the old licence from 2019 forwards, The tax exemption which entities received under the previous licence (GBC1) is abolished. The country has also introduced a new regulation which entities can benefit from. Companies that operate in deep sea exploration and make use of deep ocean water for air conditioning services, and facilities will be tax-exempt for the next 8 years. There is also a reduced tax rate granted to entities that are exporting goods. This rate of 3% is applied to exported goods. Corporate Tax This refers to the additional taxes which businesses are required to pay based on their operations and certain government requirements. Companies are taxed based on their operations as well as any relevant tax laws. Some examples of corporate taxes which may apply to your business will include payroll taxes, stamp duty taxes, social security contributions (made by the employer), transfer tax, and digital services tax along with any other additional taxes which apply based on operations (e.g. environmental tax). The employer's contribution to the social security fund (CSG) will be determined by the employee's salary. The contribution tax rate ranges between 3%, 4.5%, 6%, and 9%. There are additional contributions consisting of 2.5% (National Solidarity Fund) and 2.5% (Human Resource Development Council Levy). The stamp duty amount ranges between MUR 25-1000 and is applied to every document which is registered/inscripted. There is an additional campement site tax imposed on owners of campement sites in specific zones (MUR 2-6 per square metre). Customs and excise taxThis is a tax charged on any products and services which are imported and exported in Mauritius. There is a distinction between customs and excise duties. Excise duties refer to the tax which is imposed by the government on certain goods for their production licensing and sale. The excise duties apply to products which are locally manufactured whereas customs are charged on goods which are imported into the country. Customs and Excise duties are usually charged on luxury products, non-essential items (cosmetics or electrical equipment) as well as products which are consumed daily (alcohol, tobacco etc.) Excise duties are applied to spirits, vehicles, and petroleum products. Customs duties are applied to items imported into Mauritius. The rate applied is stipulated in the Customs Tariff Act. Pay As You Earn Pay As You Earn (PAYE) is a system whereby employers are required to withhold tax from the emoluments of employees chargeable to tax at the time the emoluments are received by or made available to the employees. To arrive at an employee’s chargeable income, an individual is entitled to deduct from his or her net income the appropriate Income Exemption Threshold based on the number of dependents of the employee, or other reliefs.Exemptions and ReliefsThe following reliefs or exemptions may be claimed by an employee under the tax laws of Mauritius:• exemption in respect of a dependent child pursuing an undergraduate course;• deduction for household employees; • interest relief on a secured housing loan;• relief for medical insurance premiums or contributions;• solar energy investment allowance;• rainwater harvesting investment allowance; and• deduction for contribution to the COVID-19 Solidarity Fund.Other information There has also been a new law passed (BEPS agreement) by members of G7, G20 and OECD, which sees a new minimum tax rate of 15% for corporations conducting their business in specific countries. The agreement aims to firstly, tax foreign nationals who have highly profitable businesses subjected to pay tax in the country in which they have their operations (under Pillar one). Secondly, there is an introduction of a new standard corporate tax of 15% for bigger organizations and companies (annual revenue exceeds 750 billion euros) operating their business activities overseas (under Pillar two). The agreement is aimed at being introduced before 2023. The agreement is to stop tax avoidance.Mauritius is presently a party to around 44 tax treaties, including with Botswana, Congo, France, Germany, Italy, Lesotho, Luxembourg, Madagascar, Mozambique, Namibia, Rwanda, South Africa, Swaziland, the United Kingdom, Zimbabwe and Uganda. In addition, a series of treaties are under negotiation.Mauritius Legal LandscapeMauritius has a ‘hybrid’ or ‘mixed’ legal system, inherited from its colonisation by the French and the British. The constitution of Mauritius is based on the Westminster model, while the substantive law (civil rights, property law, contract law) are French-derived and procedural laws are English based. Modern business laws such as company, insolvency and financial services law are modelled on the Anglo- Saxon jurisdictions.The government has recently enacted several pieces of legislation that have widely affected the corporate and financial sectors. National Payment Systems (Authorisation and Licensing) Regulations 2021.The Bank of Mauritius (BoM) has recently issued the National Payment Systems (Authorisation and Licensing) Regulations 2021 (Regulations), which were made operational as of 1 June 2021.The Regulations were issued two years after the promulgation of the National Payment Systems Act 2018 (NPS Act) in January 2019.The NPS Act sets the framework for the regulation, oversight and supervision of payment systems in Mauritius, and sparked the launching of the new National Payment System branded as MauCAS (Mauritius Central Automated Switch) by the BoM in August 2019. In a nutshell, the Regulations provide for the authorisation process of operators of payment systems, clearing systems or settlement systems, the licensing of payment service providers, the form and manner for applying for an authorisation or a licence, and the applicable fee for obtaining an authorisation or licence.Immigration Paths in MauritiusNon-Mauritian citizens can choose to work, invest, live or retire in Mauritius through the relevant permits, namely, Mauritius Business Visa, MAURITIUS WORK PERMIT (OCCUPATION PERMIT), the Permanent Residence Permit, the SELF-EMPLOYED MAURITIUS OCCUPATION PERMITand the Digital Nomad visa. Additionally, non-citizens and ex-pats are allowed to acquire residential property in Mauritius under schemes approved and managed by the Economic Development Board such as the Integrated Resort Scheme (IRS), the Real Estate Scheme (RES), the Property Development Scheme (PDS), the Smart City Scheme and Ground +2 apartments.Mauritius Business Visa It doesn’t take too long to obtain a Mauritius business visa. The process is in place to enable a businessman to institute the company. Business visas are non-immigrant visas for persons who wish to enter Mauritius temporarily for business. Depending on the purpose of the visit, as well as the timeframe visitors are planning to stay, this visa may suit your needs. This visa is only applicable for 90 days per 180 days (short-term visa).Permitted Activities Various activities are permitted when granted a business visa. These include:Conferences Seminars Training courses or activities Meetings Procedure The application for the Mauritian business visa is as follows:You need to fill out the necessary application forms available online, and initiate a case with Centuro for assistance. The required documents must be completed and submitted to the relevant government authorities. An average of five working days is required for processing applications and for a visa to be issued, provided all relevant documents are submitted. Timelines A business visa will take roughly three to five working days for processing applications and for a visa to be issued, provided all relevant documents are submitted.MAURITIUS WORK PERMIT (OCCUPATION PERMIT) To be eligible for a work permit in Mauritius, the applicant should be between 20 and 60 years old. Exceptions to this requirement may be made for workers with specific expertise. Foreign nationals will need a Residence Permit as well as a Work Permit to be employed in Mauritius legally.This type of permit enables non-citizens to reside or retire or open their own business in Mauritius and has also been extended from three to 10 years. Occupation permits issued in Mauritius should not be confused with work permits. An occupation permit is a combined work and residence permit that allows foreign nationals to live and work in Mauritius. However, this permit is only available to applicants who fall under one of three subcategories:sponsored professionals investors and self-employed workers. There are many types of visas available to citizens of foreign nations who wish to enter Mauritius. However, any individuals who plan to seek gainful employment in the country will need one of the following:Work Permit Occupation Permit Certificate of Exemption Most employees will need a Work Permit as well as a Residence Permit.ProcedureForeign nationals will need a Residence Permit as well as a Work Permit to be employed in Mauritius legally. Because both permits are necessary, applicants may fill out a common form for both permits. The form can be found on the website of the Ministry of Labour, Industrial Relations, Employment, and Training. Applicants should note that applications must be submitted online through the e-Work Permit Portal.PERMANENT RESIDENCE PERMIT It is a special category visa designed to attract foreign investment. The permanent residence permit is issued for ten years and is renewable, subject to the company having achieved a gross income of at least MUR4 million (approx. USD100,000) annually, as from the third year of registration. The holder is entitled to work and live. Here are the two essential conditions to hold the Mauritius permanent residence permit:An investor with an occupation permit and a turnover of his/ her company exceeds 45 million Mauritian Rupees during any consecutive period of 3 years. An investor desirous to invest at least US Dollar 500,000 in business activity stimulated by the Government of Mauritius, including Agriculture, Tourism, Banking, IT and Financials. SELF-EMPLOYED MAURITIUS OCCUPATION PERMITTo be eligible for this visa, you must work for yourself in a one-person business. Only people working in the service sector are eligible. The visa is valid for ten years. It is renewable if you can show that your business is successful. To do this, you’ll need to show you made at least MUR 800,000 (around USD$20,000) per year. The first two years are excluded, as the government recognizes that it takes time to start up a business.DIGITAL NOMAD VISA The Mauritius Digital Nomad Visa (Mauritius Premium Travel Visa) allows remote workers to live on the beautiful island of Mauritius. This visa is valid for one year but is renewable. If you intend to stay in Mauritius for 6 months or less then you are granted a Tourist visa. If you intend on staying for 12 months, then you need a Premium Visa also known as Digital Nomad Visa.Procedure To apply for the visa, firstly you need to check if you meet all the requirements, then head to the official EBD Mauritius Website and complete the form. It takes about 48 hours to process the application. Initiate a case for assistance. Documents Required Proof of Work: Your main place of business and source of income must be outside of the country. The government does not want you to compete or enter the Mauritius Labor Market. Proof of Funds: Bank statement showing that you make a minimum of (R23,000 | USD 1500) per month. If you have dependents under the age of 24 this is an additional (R7,500 | USD 500) per head. Negative Covid Test: a certificate of a negative COVID – 19 PCR test administered between 5 and 7 days before the date of boarding at the last point of embarkation. Flights: a valid return air ticket to and from Mauritius Accommodation: Where you’ll stay during your mandatory 14 days of quarantine and post-quarantine. Travel Insurance for Mauritius: Use travel insurance while visiting Mauritius so you are covered for theft and medical expenses. There are a lot of fun things to do in Mauritius, and it’s best to have peace of mind while driving, hiking, and trying some of the best food in the world. Timelines It may take between 3 to 7 days for the application to be processedIncentives for Doing Business in MauritiusMauritius offers numerous grants and incentives to investors, domestic and foreign alike. The noteworthy ones are set forth below: Tax exemptions for entities in certain zones As Mauritius has many export processing zones investors can take advantage of various incentives such as:exemption from corporate tax for up to 10 years exemption of customs duties on certain products Minimal regulation on foreign exchangeMauritius is also preferred as it is high on confidentiality allows unrestricted repatriation of profits has no controls on foreign exchange Tax incentives on CIT and withholding tax exemptionsSetting up a global business company in Mauritius is helpful as it offers 3% corporate tax on global earnings Absence of withholding tax on interest and dividends It can provide services to local customers Corporate tax exemption for IP development entitiesMauritius has favourable terms for several industries as it offers An 8-year exemption from corporate taxes for companies engaged in the development of IP Peer-to-peer lending businesses as well as e-commerce businesses can get up to a 5-year exemption from corporate taxes Access to a large African consumer market The location of Mauritius is perfect for a business focused on African markets.Low corruption levelsLow levels of corruption and low tax make Mauritius an ideal country to set up a business.Ease of Doing Business Mauritius is one of the most business-friendly countries on the African Continent. It has a strong framework for international business – with free trade agreements in place (SADC, COMESA, CECPA, AfCFTA, Mauritius-China FTA), 29 Investment Promotion and Protection Agreements, and 45 tax treaties. There is: No exchange control; no restriction on repatriation of profits/dividends, No tax on dividends and capital gains tax Friendly Country Mauritius has a diverse ex-pat community with an English & French-speaking population. It is also the safest country in Africa with a stable political, economic, and tropical stability climate. The country ranks 1st in Africa and 13th globally for Ease of Doing Business (World Bank’s 2020 report); the happiest country in Africa (World Happiness Report). There are daily flights to the world’s major international airports and state-of-the-art private hospitals and international schoolsConclusionWe have the local knowledge to help you navigate all these processes. Whether you want to set up in Mauritius or just want to streamline your Mauritian operations, contact us for guidance, support, and expert advice or register for Centuro Connect now to discover more information that will simplify the process of establishing entities.
All over the world, countries are facing the impacts and effects of climate change. Natural disasters such as fires, floods and earthquakes are inevitable – and their frequency and intensity continue to increase with the growing impacts of climate change. As a result, governments are taking action to incentivise organisations to reduce their impact on climate change and drive sustainability. In a ground-breaking move heralding the future of low-carbon aviation, the U.K. government has awarded Virgin Atlantic funding to operate the world’s first-ever net-zero transatlantic flight.Taking off in 2023, this flight will operate from London to New York using exclusively Sustainable Aviation Fuel (SAF), powered by Trent 1000 engines by Rolls-Royce. This collaborative project comes as a result of the shared vision of both companies to reduce carbon emissions and their commitment to sustainability. In the larger context, the use of SAF will potentially boom the wider SAF industry creating thousands of UK jobs while supporting the delivery of net zero aviation emissions by 2050.At our Global Expansion Conference 2022, the message was clear: The role of innovation and disruptive technologies in attaining a clean Net Zero is paramount. This was iterated by our keynote speakers, Mike Azlen (Founder and CEO, Carbon Cap Management) and Caroline Gorski (CEO - R² Factory, Rolls-Royce) who presented extensively on the concept of carbon cap and building digital sustainable ecosystems, respectively. Little did we know, we were helping make history! Trailblazing Net-Zero Emissions FlightsVirgin Atlantic, who are no strangers to pioneering new technologies, have been investing in sustainable aviation fuels since 2008. They have aimed to make their flights as carbon neutral as possible by offsetting any remaining carbon emissions through verified carbon offsetting schemes such as tree planting or renewable energy projects since 2009. Now, they are taking another step forward in their journey towards sustainability with this exciting new project.Rolls-Royce, who is known for producing some of the most efficient engines in the world, will be providing the power for this historic flight. The Trent 1000 engine delivers exceptional fuel efficiency and environmental performance. It has been optimised specifically to power the transatlantic flight, applying the latest technology whilst drawing on the experience of previous generations of Trent engines.Watch Caroline Gorski explain how Rolls Royce builds, engages and delivers a stronger ecosystem through collaboration and innovation internationally. Delivering the first net-zero transatlantic flight will help in further exploring how operational efficiency improvements, flight optimisation and carbon removals can contribute to achieving net-zero flights – not just in the UK, but for the global aviation industry. Doing our part for a Sustainable Future of BusinessOrganisations have a crucial role to play in protecting the environment and reducing their Carbon footprint. Within the business context, sustainability is defined as managing environmental, social, and governance issues and is extremely important in various areas, such as new product development, reputation building, and overall corporate strategy. The 2030 United Nations Sustainable Development Goals are often a good starting point for companies looking to improve their sustainability practices and reduce their Carbon footprint.Expanding companies who are looking to enter new markets should consider the physical risks that climate change could pose for them depending on the locations they are considering as well as the regulatory environment and policies that may impact your expansion.Currently, many countries offer sustainability incentives for companies that are investing in green and climate-friendly initiatives. Because of the relevance of ESG regulations on expanding businesses and the sustainability progress that is important to the ethos of Centuro Global, we are inviting key speakers to our Centuro Global Expansion Conference 2023 to speak about new challenges, changes, and improvements.Governments that offer incentives for green and climate-friendly initiatives.Education is an important tool in this and receiving expert advice can help to achieve optimal outcomes in the actions taken. To spread awareness, we’ve recapped some key takeaways from the “FUTUREPROOF YOUR BUSINESS TO PROGRESS SUSTAINABLE DEVELOPMENT IN 2022 AND BEYOND” Keynote address by Mike Azlen at Centuro GEC 2022.1. Globally, we’re emitting 40 billion tonnes of Carbon/year - about 150 million tonnes of emissions/day.2. The number of emissions for 1 passenger’s air travel from London to New York is about 2 tonnes of CO23. At our current run rate, we have a mere 8 years before we reach the 1.5-degree increase threshold set by The Paris Agreement.Watch Mike Azlen discuss the role of innovation and disruptive technologies in the fight against global warming, and the efforts of COP 26, the UN SDGs, and Business & Industry on our journey to a clean Net Zero.ConclusionThis revolutionary project between Virgin Atlantic and its partners has set a bold precedent for other airlines around the world and signals a strong collaboration between government and industry. It also serves as an inspiring example of what can be achieved with collaboration when there’s a shared goal of making air travel greener and more sustainable for everyone. The world’s first Net Zero Transatlantic Flight will pave the way for future generations of green air travel that will benefit us all in the long run. We can’t wait to get on board!
Here at Centuro Global, we take pride in connecting to people and networks. We’re a technology platform that is led by human expertise – and our network of experts and clients globally inspires us to help solve the various challenges of global expansion. Connecting with our network is therefore crucial, as their insights and knowledge are helping to solve some of the international business challenges companies are facing today. Our team has a wide background of expertise, and after attending many conferences across multiple industries; we are thrilled to have launched the world’s first Global Expansion Conference. In 2022, we brought together our global network as well as thought leaders, corporate clients, rapidly growing companies, influential government bodies and investors to discuss the future of global business and the challenges the world is expected to face over the next decade. In 2023 we will be hosting Centuro GEC 2023, this time with a focus on the Future of Work and Cross-Border Compliance Challenges. We aim to make this memorable and impactful, and with so many exciting things in store for all attendees, here are a few specific reasons why you should register to be a part of the Global Expansion Conference 2023 in London. 1. Flexibility of Learning Formats The varied structure of Centuro GEC 2023 will allow attendees to experience professional development in many different formats. We’ve invited a curated list of experts from a variety of industries and backgrounds to speak and host workshops. The objective is to inform delegates of different and new perspectives, enabling you to see possibilities for the future that will change and improve the way you do business.Delegate participation is at the heart of Centuro GEC 2023. Our panel discussions, fireside chats and interactive masterclass formats will ensure dynamic discussion and interactions with other delegates, as well as provide ample opportunities to pose questions to all expert panel of speakers. Finally, if you miss a session you wanted to attend or didn’t catch a keynote speech, all the sessions will be available on-demand after the conference concludes. There will also be an entire library of conference highlights available in our gallery.Watch Centuro GEC 2022 Highlights2. Sessions designed to help you take action We know that a lot of the time, professionals don’t always have time to attend a conference purely “on spec”, with vague ideas of what they’re going to get and what we can be employed. We have thoroughly researched international business trends and identified the most relevant hot topics in each industry, allowing us to put together an agenda specific to your industry function and tie it into the global expansion perspective.We’re excited for all attendees to enjoy the sessions we have planned. The conference will include over 15 sessions that speak to the theme of “Global Expansion: A New Frontier.” Centuro GEC 2023 will feature demonstrations of a variety of the latest disruptive technologies appealing to the various facets of our delegates. With applicable knowledge, insights, tools, advice and takeaways being the focus of all the sessions, you will leave the conference feeling enlightened and educated to benchmark your company’s systems and processes.Look back at our 2022 roster of keynote speakers, experienced business leaders and Centuro Global Network experts HERE3. Useful and Informative Networking opportunities With a cap on the number of delegates, Centuro GEC 2023 will be exclusive, and candid. Delegates will feel at ease in a room full of peers and meet just about everyone over two days whilst appreciating our Sponsors and Partners, who will be on hand for advice. We will also incorporate a social element into the conference’s programme. From breakfast networking and lunches to a prestigious dinner, Centuro GEC 2023 will balance engaging sessions with the opportunity to reconnect with your colleagues in the industry. The prestigious Centuro Global INT-X Awards 2023 and the associated gala dinner will be a high point – get together with other executives in the sector and celebrate the teams and organisations that have made a difference in the past year.We invite you to join us and take advantage of the many networking sessions, and one-on-one meetups to catch up, get inspiration and ideas, and do business. If you attended last year’s conference, you know how much energy and participation there was in the chats and exchanges, and we look forward to more of that in 2023.Catch some highlights from Centuro GEC2022 below4. A Signature Agenda Centuro GEC 2022 provided delegates with a toolkit for accelerating the future of business, focusing on thought leadership, AI, and Sustainability to enhance delegates’ effectiveness and success in their organisations. Next year, Centuro GEC2023 will feature insights from the brightest minds in tech and business, strategies for a better future of work, and forge a compliant way for doing business across borders. The remote work revolution, current market and economic challenges continue to transform the way we live and work. With more employees working from anywhere, it is becoming harder for companies to manage compliance on a global scale. The war on talent has also complicated how companies hire, manage and retain talent globally. This carries complications, with immigration, tax and varying local and international laws.Regulatory compliance is now at the heart of every organisation’s operation. In that regard, the Conference’s agenda is created in collaboration with some of the most influential business leaders across the globe who will identify and address any changes or shifts that are underway. This will help keep you well-positioned should any sweeping changes come to pass. In this regard, the conference will also feature government officials and policymakers discussing best practices and emerging themes with firsthand insights into fully understanding bureaucratic global laws and legislations.While we build the 2023 agenda, explore last year`s agenda built upon research that addressed the most critical trends and priorities for top senior business executives and their teams HERE.5. Bringing people together to create a once-in-a-lifetime experience In spending time at a good event location, you can extract a positive experience that can stay with you. Travelling, in general, broadens the mind but attending a well-organised conference in a quality location can overall be a relaxing and enriching experience. This is especially in the case of Centuro GEC 2023’s venue - Hilton London Syon Park.On the grounds of a 200-year-old estate, the Hilton Syon Park feels like a Country Escape, despite being only 15 minutes away from London Heathrow airport. The venue is part of the “Travel Sustainable” Programme and has taken steps to reduce waste, energy & greenhouse gases as well as water consumption, whilst celebrating nature and giving back to the local community.We work hard in the Global Expansion Industry, with the responsibility of ensuring the various needs of what is required for expanding into new markets globally. It’s a rewarding experience to delve into the rich theory and practice of our industry in a relaxed yet dedicated environment. Think of it as an opportunity to get back from the day-to-day routine, and take stock of the issues that are at hand.*Centuro Global has reserved a limited number of hotel rooms at special hotel rates for registered attendees. Reservations will open in the coming months. Please check back for more details. Not registered yet? You’ll need to register for the conference before you can book your hotel room. Register Now6. Bringing it All Together – Get Inspired! Centuro GEC isn’t just about learning and networking, though both are important. The conference is also about making an impact, accelerating change and being inspired! We at Centuro Global want every Centuro GEC 2023 delegate to walk away feeling invigorated and encouraged.Don’t take our word for it, here is a range of perspectives from experts who have spent plenty of time on the “front line” at Centuro GEC 2022. And with King Charles III’s coronation happening just a few days later, you never know who else you might bump into at Centuro GEC2023!Conclusion These are just 6 of the reasons we’re excited about Centuro GEC 2023, but there are many more. Register today to join us on 3-4 May 2023—we look forward to seeing you there!
If you're an international student studying in the United Kingdom, obtaining a work permit has just become a lot easier. The UK government has announced changes to the eligibility criteria for their Skilled Worker Visa. International students who are already in the UK and wish to stay there and switch over to a skilled worker visa can now do so. The new rules also allow applicants to apply for a skilled worker visa without having to complete their degree.A Skilled Worker visa allows you to travel to, reside in the UK and undertake an eligible job with an approved employer. This category of visa is only available to those companies that hold a valid UK sponsor license and have allocations to issue certificates of sponsorships to candidates. A skilled worker visa was typically only available to overseas employees as well as new hires who met the relevant eligibility requirements. However, it is now also available to international students who wish to study in the UK.To qualify for a Skilled Worker visa, you must:Work for a UK employer that's been approved by the Home Office and has a sponsor licenseHave a 'certificate of sponsorship' from your employer with information about the role you've been offered in the UKDo a job that's on the list of eligible occupationsBe paid a minimum salary - how much depends on the type of work you doYou must meet all of the following requirements to qualify for a Skilled Worker visa:Your job is eligible for this visaYou'll be paid the minimum salary or the "going rate" for the type of work you'll be doing - whichever is higherYou'll be working for a UK employer that's been approved by the Home OfficeSalary requirements: You'll usually need to be paid at least £25,600 per year unless the "going rate" for your job is higher than this.You must have a job offer from an approved UK employer before applying for a Skilled Worker visa. Approved employers are also known as sponsors because they are sponsoring you to come to or stay in the UK. If you already have a job offer from an approved employer Your employer (also known as your sponsor) will check that you meet the eligibility requirements. They'll give you a 'certificate of sponsorship' to prove this. You must apply for your visa within three months of getting your certificate of sponsorship.English LanguageThere are a number of immigration routes with an English language requirement for applicants. This may be to support integration and/ or to demonstrate they have the English language ability needed for that particular route. The level of English language ability required is set as appropriate for each relevant route based on the Common European Framework of Reference for languages. For example, students at the degree level must demonstrate their ability at level B2 (A-Level or equivalent) and skilled workers B1 (AS-Level or equivalent). The ways an applicant can show they meet the English language requirement are:Being a national of a majority English-speaking country.Having an academic degree taught in English.Passing a secure English language test.Having shown they meet the required level in a previous successful immigration application. In some routes, there are additional ways of meeting the English language requirement. We will not make any changes to these route-specific provisions:Skilled workers who are sponsored as a doctor, dentists, nurses or midwives can rely on the assessment of their professional body as proof of their English language ability.Students who are studying a course at a degree level or above at a UK Higher Education provider with a track record of compliance can meet the English requirement if their sponsor assesses their ability. The UK’s Points-Based Immigration System 15Students who are applying to complete a short-term study abroad programme in the UK, as part of a course equivalent to a UK degree being studied at a Higher Education Institution in the USA do not need to prove their English language ability. We will also extend the list of majority English-speaking countries to include Ireland (so applicants who are neither British nor Irish citizens and who have studied at Irish universities can rely on their qualifications to show they have met the English language requirement) and Malta.International students can apply for this visa while they are studying. They must have an offer of employment from an approved employer to accompany their application but can switch over to the visa once it has been approved. This new visa route is expected to help students ease their living costs, by being able to support themselves whilst studying.What is the UK Skilled Worker Visa?For many international students studying in the UK, this is a faster and more affordable route to a work permit in the UK. The Skilled Worker visa is a long-term employment visa that allows applicants to remain and work in the UK for up to five years. This visa, which replaced the previous Tier 2 (general) work visa, was redesigned to allow for a lower threshold of salary threshold and to remove the resident labour market test. The skilled worker visa is valid for up to five years. Applicants can decide whether they wish to extend their visa or apply for indefinite leave to remain or British citizenship.Timeline to receiving the skilled worker visaIf applicants meet all of the requirements for a work permit, the average processing time is currently up to 11 weeks. This timeline may be extended or reduced depending on the capacity of the home office.What other visa routes should applicants consider if they do not meet the eligibility requirements?If you're temporarily wanting to enter the UK, try the Permitted Paid Engagement visa route. Depending on your nationality, this visa may apply to you. Some nationalities will not need to apply for this visa. Please contact us to find out if you are eligible.Candidates may apply for a Permitted Paid Engagement Visa if a company has invited them as an expert in their profession to work on certain projects or tasks. You may stay in the UK for up to 1 month. Permitted Paid Engagement visas are usually issued when:A UK-based organisation or client has invited certain individualsCandidates come to the UK to do specific paid work without having to be sponsored under the points-based visa system Other eligibility requirements are met. EligibilityIndividuals may be able to visit the UK for paid engagements if they have been invited as an expert in a particular profession. The general rule is that in order to be eligible for the visa the person must demonstrate they are:Invited by a UK-based organisation or clientWant to come to the UK to do specific paid work without having to be sponsored under the points-based visa systemMeet the other eligibility requirements listed below.A visa is only required for those who need a visa to enter the UK. Check here for further requirements.You must show that:You're 18 or overYou're visiting the UK for no more than one monthYou've been formally invited and paid by a UK-based organisation to attend an event or other permitted engagementYou'll leave the UK at the end of your visitYou will not live in the UK for extended periods through frequent or successive visits, or make the UK your main homeYou're able to support yourself during your trip (or have funding from someone else to support you)You're able to pay for your return or onward journey (or have a budget from someone else to pay for the trip)You have proof of any business or other activities you want to do in the UK, as allowed by the Visitor RulesPermitted ActivitiesA person can be invited by a UK-based organisation or client to:Be a student examiner or assessorTake part in selection panels as a highly qualified academic if you’re invited by an education, arts or research organisationGive lectures at a higher education institution, as long as it’s not a part-time or full-time roleExamine UK-based pilots so they meet the standards of the country you come from if you’re invited by an approved UK training organisation regulated by the UK Civil Aviation AuthorityProvide advocacy in a particular area of lawTake part in arts, entertainment or sporting activities including broadcastingTake part in fashion modelling assignmentsA person can also do minor activities related to their work or business overseas, such as attending meetings.The below activities are not permitted under this visa category:Do pay work unrelated to your main job or area of expertise at home, other than what’s allowed by your visaExtend this visa or switch to another visaLive in the UK for extended periodsGet public funds (benefits)StudyMarry or register a civil partnership, or give notice of marriage or civil partnershipBring family members (‘dependants’) - they must apply separatelyDocuments RequiredIn order to process your visa, please ensure you have prepared the following documents. Once prepared, we can assist you in initiating a case.A current passport or other valid travel documents - your passport must have a blank page for your visaA formal invitation from a UK-based organisation or the client you'll be paid byProof that the paid engagement relates to your expertise, qualifications, and main job in your home country, for example, a letter from your employer on company headed paper, detailing your role, salary and length of employmentBusiness registration documents or recent invoices that confirm ongoing self-employmentPrevious travel documents/passports, which show previous travel *confirmation of legal residenceFinancial documents that show that you have sufficient funds available. These must clearly show that you have access to the funds, such as bank statements, proof of earnings (payslips, salary statement)You'll need to provide an invitation letter showing why you're carrying out the engagement and how long it's for from a relevant UK-based organisation, such as:a Higher Education institutionan organisation in the creative arts or entertainment industriesa sports organisation, agent or broadcastera research organisationan aviation training organisation regulated by the United Kingdom Civil Aviation Authoritya client, if you are a lawyerYou will be required to provide evidence of professional status in your home country or expertise, depending on the engagement.Start-up visaThis visa category is for those people who have an innovative idea and wish to set up a new technology business in the UK with the potential to innovate or disrupt. The requirements are stringent, and the expectation is that your business must be something that’s different from anything else on the market.EligibilityYou must be endorsed by an authorised body that is either:a UK higher education institutiona business organisation with a history of supporting UK entrepreneursYou must be able to show that your business idea is:a new idea - you cannot join a business that is already tradinginnovative - you must have an original business idea which is different from anything else on the marketviable - it has the potential for growthDocuments RequiredA valid passport or other documents that shows your identity and nationalityBank statements showing you've had at least £1270 in savings in your bank account for 28 consecutive days before you applyProof that you meet the English language requirement:passing a Secure English Language Test (SELT) from an approved providerhaving a GCSE, A level, Scottish National Qualification level 4 or 5, Scottish Higher or Advanced Higher in English , gained through study undertaken in a UK school when you were under 18having a degree-level academic qualification that was taught in English - if you studied abroad, you'll need to apply for confirmation through UK NARIC that your qualification is equivalent to a UK bachelor's degree, master's degree or PhDYour tuberculosis test results if you're from a country where you have to take the test.TimelinesOnce you've applied, proved your identity and provided your documents, you'll usually get a decision within three weeks.In conclusion, there are many other visa types that may be relevant depending on the experience of each candidate and the company they are looking to work for in the United Kingdom. For more information on these, or for assistance with your application, please do not hesitate to contact us.