UK to open doors wider for global talent as US tightens visa rules

The UK will expand opportunities for overseas talent just as the United States raises new barriers, Chancellor Rachel Reeves announced on Tuesday, directly contrasting Britain’s approach with U.S. President Donald Trump’s latest visa overhaul.

Trump’s move last week to raise the cost of skilled-worker permits fifty-fold to $100,000 triggered chaos in Silicon Valley, with foreign-born staff rushing back to the U.S. to safeguard their immigration status. Though the White House later clarified the fee would apply only to new applicants, uncertainty continues to loom over the H-1B visa programme, long relied on by U.S. tech giants.

Speaking at the launch of Revolut’s new global headquarters in Canary Wharf, Reeves said Britain intends to double the number of high-skilled visas to around 18,000 annually. She stressed that London, “one of the two financial capitals of the world,” must remain open to international talent.

“While President Trump announced late last week that it will make it harder to bring talent to the US, we want to make it easier to bring talent to the UK,” Reeves said.

Her remarks coincided with Revolut’s pledge to invest £3 billion in the UK and create 1,000 new jobs. The fintech firm—founded in 2015 by Russian-born entrepreneur Nik Storonsky—has grown to 65 million customers across 40 countries and now holds a $75 billion valuation, outstripping Barclays.

Despite its rapid rise, Revolut still lacks a full UK banking licence, having applied in 2021. Regulators have been cautious, citing the company’s unprecedented growth and past fraud concerns. A BBC investigation previously revealed Revolut was cited in more fraud reports in 2023/24 than any major High Street bank. The firm maintains it has “robust controls” in place and is hopeful approval will come soon.

Reeves has pushed regulators to prioritise growth, underscoring her commitment to making the UK more competitive. As Britain seeks to differentiate itself from the U.S., the government is expanding visa routes for global talent and high-potential individuals, with the aim of making them faster and easier for firms to use.

The UK is Revolut’s largest market with 11 million customers, and while London will serve as its global HQ, the company has not confirmed whether it will eventually pursue a London stock market listing.