Graduates from these 5 top European universities can now move to the UK for up to 3 years without a job offer

• A new UK visa aims to attract alumni from the world's best 50 universities.
• The High Potential Individual Visa lets graduates move to UK for up to 3 years without a job offer.

The UK government has revamped its immigration system in a bid to attract what it considers to be the world's top graduates.

Anyone who graduated from 50 of the world's top universities and colleges within the last five years can now apply for a High Potential Individual (HPI) visa. As Insider previously reported, they won't need to have a job offer lined up, and their families can join them too.

Those holding a Ph.D. will be able to stay for three years — alumni with a bachelor's or master's degree can stay for two. They'll have to apply for a different visa once their HPI visa runs out. It's not dependent on nationality but on the college they graduated from.

The visa costs £715. Applicants will also need to pay a surcharge towards the UK's National Health Service, and have £1,270, (about 1490 euros or $1,604) in funds to prove they can support themselves. A fee of £210 is needed to verify their qualifications are genuine.

It's all part of the UK government's switch to a "skills-based immigration system" since leaving the European Union. The country wants to attract highly skilled graduates to work in industries like finance, tech, and sciences.

Every year, UK officials compile a list of what they consider to be the 50 best higher education institutions globally. In order to qualify, a university must be included in two out of three of either; The Times Higher Education World University Rankings, Quacquarelli Symonds World University Rankings, or The Academy of Ranking World Universities.

The list, which has drawn some criticism for excluding colleges in Africa, South Asia, and Latin America, is dominated by North American institutions, but also includes colleges in France, Switzerland, Sweden, and Germany.

Insider listed the top 5 eligible European universities:

• Ecole Polytechnique Fédérale de Lausanne (EPFL), Switzerland
• ETH Zurich (Swiss Federal Institute of Technology), Switzerland
• Karolinska Institute, Sweden
• Paris Sciences et Lettres — PSL Research University, France
• University of Munich (LMU Munich), Germany

Read the full list on the UK government website.