The City of London Corporation has published draft proposals for a regional visa system to address possible shortages of key staff post Brexit.
London has long been an internal assignment destination of choice, with the finance and banking sectors particularly large employers of expats; International employees make up 32% of employees in the City of London today.
The proposals, provided by consulting firm PwC, looked at the visa systems in place in Australia and Canada before providing two options for further review.
With the continuing uncertainty around Brexit influencing International Banks to consider relocating parts of their operations outside of the UK, any innovative ideas to address potential skills shortages should be welcomed.
City of London Corporation published the proposals, drawn up by accountants PriceWaterhouseCoopers, after scrutinising the visa systems used in Australia and Canada. It outlines two ideas: one could be run by the local authorities which would listen to the business case for needing to recruit from abroad; the other would be run by UK Visas and Immigration (UKVI) which would judge the merits of cases put forward.