While with the launch of UK’s new immigration cap for non-European Union immigrants in April 2010 many overseas people are going to face disappointment, a particular genre of overseas people may find it easier as compared to the current trend in making UK their home. And that genre is the affluent and wealthy investors and entrepreneurs! This is of course, a good news for those who have the desire to be in the UK for permanent stay and have money for making this happen!
In one hand when the UK’s David Cameron-led coalition government is committed to its pledge to introduce an annual permanent immigration limit on non-EU immigrants, it seems the government has relied on to a new strategy to attract investors and entrepreneurs in order to retain the nation’s economy in accordance with other well-doing economies in the world.
With a purposeful strategy to captivate the rich, the United Kingdom is now all set to introduce an entrepreneur visa. While the details of this visa category are yet to be revealed for public, it can be speculated that it is likely to ease out immigration rules for the millionaires from outside European Union nations, like India. At the time of announcing the new visa category, UK’s Prime Minister David Cameron was caught saying that people are welcome to reside permanently and then obtain citizenship in the nation, if they have the adequate amount of money to make an investment.
As hinted, foreign investors (non-EU immigrants) with high net worth and with the willingness to invest over 5 million Pounds in the UK are likely to be eligible for permanent residence in between 2-3 years, as opposed to earlier time span of obtaining PR in 5 years. With the changes, investors could also get full citizenship in the nation in maximum 5 years. In addition, foreign nationals may not be required to physically present in the UK for as long as 9 months (in a year), as required as of now.
Thus, it can be drawn as the bottom-line that in an effort to remain competitive in the global labor market United Kingdom is trying to attract wealthy individuals who have the potential to build their companies or enterprises and create jobs in the nation.
Even if the UK’s permanent immigration cap is going to discourage a lot of people who were aspired to immigrate to the nation, it will continue to reap the benefit of its immigration system with the influx of wealthy investors from across the globe!