New UK Visa rules have been announced for investors and entrepreneurs who can make significant contributions to the country.
17 March 2011
New UK Visa rules will reward entrepreneurs, investors
New UK Visa rules announced yesterday will reward entrepreneurs and investors who come to the UK and contribute to society, the UK immigration minister has announced.
Under the new rules, those who invest large sums of money or create new jobs will be given the right to settle permanently in the UK faster, which in turn will lead to British Citizenship.
UK Immigration Minister Damian Green said: “Today I have sent out a clear message – the UK remains open for business and we want those who have the most to offer to come and settle here.
“Entrepreneurs and investors can play a major part in our economic recovery and I want to do everything I can to ensure that Britain remains an attractive destination for them.
From April 6, investors who come to the UK and invest £5m will be allowed to settle here after three years and those that invest £10m or more will be allowed to settle after two. This compares with the minimum five year requirement that is currently in place.
Greater flexibility will also be given to investors as they will be allowed 180 days a year, rather than 90, outside of the UK before they lose their right to settlement.
Those investors who are already in the UK now and have invested large sums will also qualify for accelerated settlement.
Entrepreneurs will also be able to settle in the UK more quickly if they create ten jobs or turn over £5m in a three year period and a new visiting UK Visa will be created for prospective entrepreneurs.
This will allow them to enter the UK in order to secure their funding and make arrangements for starting their business before they transfer onto a full entrepreneur visa.
The UK Government has also announced how the new Exceptional Talent route under tier one of the points-based system will operate from April 6 this year.
The new immigration route is for exceptionally talented migrants, and will be limited to 1,000 visas annually. The Exceptional Talent Visa will allow those who have the potential to be recognised as a leader in the fields of science, arts and humanities to come to the UK.
Mr Green said the new exceptional talent route will ensure that the UK will continue to allow the brightest and the best make a valued contribution.